Bitcoin Fall Below $115K as Binance Buying Power Ratio Crash
Bitcoin don drop for below $115,000 for di first time since August 6 after Binance Buying Power Ratio fall from 2.01 peak on August 14 to –0.81 by August 17. Dis ratio wey dey track stablecoin inflows against BTC outflows for Binance, mean say market liquidity dey weak and buying demand no strong again. After di crash, Bitcoin slide from high of $124,474 go low of $114,786, wey be 4.7% fall for seven days. Analysts Crazzyblockk (CryptoQuant) and KillaXBT dey warn say next big support dey around $110,000 and resistance dey near $127,000. Di collapse of Binance Buying Power Ratio show say correction risk high and e prove say we gats watch Binance capital flows well for early market warning.
Bearish
Di sharp drop wey happen for Binance Buying Power Ratio dey show say stablecoin inflows no fit keep BTC demand for di exchange again, e dey mimic di past times (like mid-2021 corrections) weh liquidity run finish before big big price pullbacks. Di way e break down under $115K plus di quick drop for di ratio dey show say risk for short term correction high. If dem still dey sell and $110K support no hold, e fit drop more. For long term, di ratio fit bounce back and new stablecoin inflows go need to bring back di bullish momentum.