Bitcoin is trading sideways against the backdrop of lower oil prices and ongoing negotiations between the United States and Iran.
Notable Statistics:
- Coinglass data shows 82,705 traders were liquidated in the past 24 hours for $330.36 million.
- SoSoValue data shows net outflows of $90.7 million from spot Bitcoin ETFs on Thursday. Spot Ethereum ETFs saw net outflows of $12.8 million.
- In the past 24 hours, top gainers include DeXe, Celestia and OKB.
Notable Developments:
Trader Notes:
Trader Poseidon believes Bitcoin has likely already seen its price bottom for this cycle, with the major capitulation phase now complete. Instead of another sharp selloff, he expects a prolonged period of sideways consolidation, or “time capitulation,” through the end of the year.
His outlook sees Bitcoin potentially reaching around $85,000, but they consider a move to $100,000 in 2026 unlikely.
Trader KillaXBT is watching Bitcoin’s higher-timeframe candle closes, especially the 3-month and 6-month structures, for signs of continuation.
He predicts BTC to sweep recent highs by next month at the latest, which would signal strength and potentially confirm the next bullish move.
Bitcoin OG Lucky explained that the share of Bitcoin held for more than five years has reached a new high, signaling that long-term holders continue to accumulate and are reluctant to sell.
The analyst views this as a bullish sign, as strong hands are absorbing supply from weaker participants, reducing available Bitcoin and potentially setting the stage for higher prices if demand increases.
Image: Shutterstock
