Yesterday, the net outflow of Spot Ethereum ETF reached $465.1 million, setting a new historical record, and the probability of the Fed cutting interest rates in September surged to 94.4%.

In July, the volatility of Bitcoin prices fell to the lowest level in over a year. According to URPD data, as of today, 351,000 BTC have been exchanged around the price range of 112,000 to 114,000, an increase of 80,000 compared to August 3rd. Some of these transactions were due to sell-offs from trapped positions above, but there is still an accumulation of 1,100,000 BTC in Area A. Therefore, the price range of 117,000 to 118,000 is currently the most critical resistance level.
Before a breakthrough at this resistance level, BTC still has the possibility of retreating back to 112000. The best scenario would be to consolidate back and forth between 112000 and 117000 to absorb more indecisive chips and re-establish price consensus, thereby accumulating energy for the next upward breakthrough.
Short-term reference: Short at 114300, look down to 112300. Risk control 1200 points! #BTC#