{"id":40872,"date":"2025-08-07T01:47:14","date_gmt":"2025-08-07T01:47:14","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=40872"},"modified":"2025-08-07T01:47:14","modified_gmt":"2025-08-07T01:47:14","slug":"asia-morning-briefing-btc-slips-into-low-liquidity-air-gap-as-post-ath-drift-continues","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=40872","title":{"rendered":"Asia Morning Briefing: BTC Slips Into Low-Liquidity \u201cAir Gap\u201d as Post-ATH Drift Continues"},"content":{"rendered":"
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Good Morning, Asia. Here’s what’s making news in the markets:<\/strong><\/h2>\n

Welcome to Asia Morning Briefing, a daily summary of top stories during U.S. hours and an overview of market moves and analysis. For a detailed overview of U.S. markets, see CoinDesk’s Crypto Daybook Americas.<\/a><\/em><\/p>\n

Bitcoin (BTC) is treading water around $115K Thursday morning in Asia, up 1% in the last 24 hours, as the post-all-time-high correction continues to play out across low volume and weak conviction.<\/p>\n

According to Glassnode<\/a>, BTC has entered what it calls an \u201cair gap\u201d, a low-liquidity zone between $110,000 and $116,000, after breaking down from a major supply cluster where short-term holders had previously found support.<\/p>\n

These areas typically see little trading activity and can either serve as a base for accumulation or become a trapdoor for deeper downside if demand fails to return.<\/p>\n

\u201cThe market is effectively re-finding its footing,\u201d Glassnode analysts wrote, describing the range between $110K (the prior ATH) and $116K (recent buyer cost basis) as the new battleground.<\/p>\n

They noted that while opportunistic buying has emerged, with 120,000 BTC acquired on the dip, prices have yet to reclaim resistance levels convincingly, particularly the ~$116.9K threshold that marks recent short-term holder entry points.<\/p>\n

Short-term holder profitability has dropped from 100% to 70%, which Glassnode frames as typical for a bull market mid-phase. But without fresh inflows, this could quickly erode sentiment. ETF flows have turned negative, with a -1.5K BTC outflow earlier this week, the largest since April. At the same time, funding rates in the derivatives market have cooled, reflecting reduced leverage and a more cautious stance among speculators.<\/p>\n

Market maker Enflux offered a similar take: \u201cCrypto markets remain in a fragile holding pattern. Despite some relief in the altcoin space, majors like BTC and ETH are still struggling to inspire confidence,\u201d it wrote in a client note. \u201cThe broader trend? Heavy legs with more or less light volume.\u201d<\/p>\n

ETH is up 2% in the last 24 hours, trading just below $3,600. The CoinDesk 20 Index<\/a>, which tracks a broad basket of crypto assets, gained 1.69% to 3,815.22.<\/p>\n

\u201cUntil BTC and ETH reclaim strength with volume,\u201d Enflux added, \u201cthe path of least resistance could remain sideways to down.\u201d<\/p>\n

The market\u2019s next move likely hinges on whether buyers are willing to step in and build a base within this low-volume zone, or whether another flush toward $110K is needed to reset the trend. For now, traders remain cautious, and the bulls remain unproven.<\/p>\n

\"(CoinDesk)\"<\/p>\n

Market Movers:<\/strong><\/h2>\n

BTC: <\/strong>A potential Bitcoin supply shock, driven by drying OTC desk reserves and steady corporate accumulation, could \u201cuncork\u201d BTC price action after a dip below $110K, market observers say.<\/p>\n

ETH: <\/strong>Ethereum may have formed a local top as sell pressure hits $419 million, its second-highest on record, while ETH retests a major resistance zone near $4,000 that preceded a 66% drop in late 2024, raising the risk of a 25\u201335% decline by September; meanwhile, Polymarket bettors remain split, with 48% backing a rally to $5,000 despite the bearish signals.<\/p>\n

Gold: <\/strong>Gold’s rally stalled Wednesday as traders took profits and weighed rising Fed rate cut odds, U.S. trade tensions, and a looming Fed leadership shakeup, leaving prices flat after a three-day gain driven by economic weakness; spot gold last traded at $3,372.11, down 0.24% on the day.<\/p>\n

Nikkei 225: <\/strong>Asia-Pacific markets opened mixed Thursday, with Japan\u2019s Nikkei 225 flat, as investors shrugged off new U.S. semiconductor tariff threats.<\/p>\n

S&P 500: <\/strong>U.S. stock futures were flat Wednesday night as traders digested Trump\u2019s new semiconductor tariffs, with the S&P 500 still up 1.7% for the week.<\/p>\n

Elsewhere in Crypto:<\/h2>\n