Bitcoin Consolidates at $114K as Weak Bid-Ask Ratio Signals Caution
Bitcoin (BTC) has stabilized around $114,000 following a modest weekly pullback that formed its fourth post-ATH weekly candle. This correction mirrors past re-accumulation phases below $120K and may be setting up a third base in the $110K–$119K range. A liquidity cluster near $114,500 holds nearly $24 million in short positions, but on-chain data shows muted buy-side activity. Binance Spot’s 10% bid-ask ratio remains tilted toward sellers at -0.208, indicating weak demand. Lower green volume bars compared to previous consolidation phases further suggest bulls have yet to fully commit. Traders should watch for a shift to stronger bids and increased on-chain accumulation to validate any sustainable breakout above $114K.
Neutral
Bitcoin’s consolidation around $114K reflects a typical re-accumulation phase after a modest weekly pullback, aligning with past patterns below $120K. However, the persistent sell-side bias in the 10% bid-ask ratio and subdued green volume bars signal that bullish conviction remains limited. This cautionary data suggests limited immediate upside momentum unless on-chain accumulation accelerates. Historically, similar setups have led to neutral to modestly bullish outcomes once buying interest resurfaces. In the short term, traders may see continued sideways movement as market participants await stronger bids. In the long term, a confirmed shift toward bid-side dominance could spark a renewed rally, but failure to attract buyers could result in further consolidation or a deeper correction.