This matters because it highlights the potential for Bitcoin's recovery and growth, which could impact investors and the broader cryptocurrency market.

After hitting its latest all-time high (ATH) on August 14, Bitcoin (BTC) has been on a steady decline, trading just above the $110,000 level at the time of writing. While some analysts opine that the crypto bull run may be over, on-chain data suggests that there is at least one more major leg up ahead for BTC. Bitcoin Bull Market Over? Not Quite According to a CryptoQuant Quicktake post by contributor CoinCare, as much as 50,000 BTC has been withdrawn over the past two days from crypto exchange Kraken. This was followed by another major withdrawal of 15,000 BTC. The CryptoQuant analyst stated that such significant withdrawals are not something that is typically observed near the peak of a bull market cycle. Instead, at market tops, exchanges witness an influx of BTC or other cryptocurrencies, signalling distribution. Related Reading: Bitcoin Eyes $150,000 As Binance Illiquid Supply Hits Record Highs Although retail demand for BTC is currently fragile, a few big wallets are still accumulating BTC in large quantities. Past data shows that retail demand for BTC surges rapidly at bull market tops. However, the current tepid demand suggests that BTC has “at least one major leg up ahead.” That said, fellow CryptoQuant analyst caueconomy offered a contrasting take. According to their analysis, major BTC holders continue to reduce their exposure to the digital asset, recently reaching the largest coin distribution in 2025. Notably, BTC whale reserves have tumbled by 100,000 coins in the past 30 days, showing high risk aversion among large investors. As a result, heightened selling pressure has been weighing down on the BTC price, pushing it below $108,000 in late August. The analyst added: At this time, we are still seeing these reductions in the portfolios of major players, which may continue to pressure Bitcoin in the coming weeks. Technicals Point Toward Renewed Strength While BTC whales &#8211; investors holding 1,000 to 10,000 BTC &#8211; may be reducing their exposure to the cryptocurrency, technicals point toward further room for growth for the leading digital asset by market cap. Related Reading: Bitcoin Delta Cap And Coinbase Premium Gap Signal Resilient Market Structure – Details For instance, noted crypto analyst Titan of Crypto shared the following chart on X, saying that BTC is close to invalidating the bearish double-top pattern on the daily chart. Once BTC convincingly pushes above the neckline, it could provide new bullish momentum to the asset. That said, there are some signs of caution. For instance, crypto analyst Doctor Profit recently stated that if BTC fails to defend the $107,000 &#8211; $108,000 support level, then it may risk falling all the way down to $90,000. Similarly, a breakdown below the $98,000 level could spell disaster for the flagship cryptocurrency. However, the long-term bull case for BTC remains intact. At press time, BTC trades at $110,460, down 0.9% in the past 24 hours. Featured image from Unsplash, charts from CryptoQuant and TradingView.com

هذا مهم لأنه يسلط الضوء على إمكانية انتعاش بيتكوين ونموها، مما قد يؤثر على المستثمرين والسوق الأوسع للعملات المشفرة.

على الرغم من الانخفاض الأخير، يقترح المحللون أن بيتكوين قد تشهد ارتفاعًا كبيرًا آخر في دورة الصعود الخاصة بها، مع بيانات حديثة تشير إلى سحوبات كبيرة من البورصات.

Esto es relevante porque destaca el potencial de recuperación y crecimiento de Bitcoin, lo que podría afectar a los inversores y al mercado de criptomonedas en general.

A pesar de un reciente declive, los analistas sugieren que Bitcoin podría experimentar otro aumento significativo en su ciclo alcista, con datos recientes que indican retiros sustanciales de los intercambios.

Cela est important car cela met en évidence le potentiel de reprise et de croissance de Bitcoin, ce qui pourrait avoir un impact sur les investisseurs et le marché des cryptomonnaies dans son ensemble.

Malgré un déclin récent, des analystes suggèrent que Bitcoin pourrait connaître une nouvelle hausse significative dans son cycle haussier, avec des données récentes indiquant des retraits substantiels des échanges.

Despite a recent decline, analysts suggest Bitcoin may experience another significant rise in its bull cycle, with recent data indicating substantial withdrawals from exchanges.