Bitcoin Momentum Slows, Volume Falls; $110K Support Looms
Bitcoin momentum is slowing as trading volume declines and the On-Balance Volume (OBV) indicator drops from 1.83 million to 1.69 million, signaling reduced buying pressure. The critical $110K support level could give way to a pullback toward $104K–$96K and trigger accelerated futures liquidations. Conversely, a decisive breakout above $115K, confirmed by rising trading volume and OBV, may push prices into the $120K–$125K range. On-chain data shows reduced whale activity and slight net inflows to exchanges—indicative of profit-taking after Federal Reserve remarks. Ethereum trades around $3,950 and BNB near $1,120, reflecting broader market stagnation. Traders should monitor Bitcoin momentum, volume, and OBV trends closely, using support and resistance levels to manage risk and identify buying opportunities on pullbacks.
Bearish
The news highlights declining trading volume and a falling OBV, signaling reduced buying pressure and a high risk of a short-term correction below the $110K support. While a breakout above $115K could restore bullish momentum, current on-chain signs of profit-taking and weaker whale activity point to limited near-term upside. These factors suggest increased downside risk and heightened caution among traders.