Bitcoin’s Bullish Momentum Shows Signs of Cooling as ETF Traders Adjust Positions
Bitcoin's meteoric rise above $110,000 has hit a pause, with the cryptocurrency now trading sideways. This stagnation coincides with a notable shift in sentiment among options traders in BlackRock's spot Bitcoin ETF (IBIT), who are showing reduced enthusiasm for upside bets. The one-year put-call skew for IBIT options has rebounded to near zero from -3.8 just two weeks ago, suggesting traders are no longer aggressively positioning for further gains. This development raises questions about whether Bitcoin's bullish momentum is waning or if this is merely a temporary consolidation phase before another upward move. As of July 21, 2025, market participants are closely watching these indicators for clues about Bitcoin's next major price direction.
Bitcoin's Bullish Momentum Wanes as ETF Traders Shift Sentiment
Bitcoin's record-breaking rally above $110,000 has stalled, with the cryptocurrency now trading sideways. The pause comes as options traders in BlackRock's spot Bitcoin ETF (IBIT) show diminished appetite for upside bets, signaling a potential shift in market sentiment.
The one-year put-call skew for IBIT options has rebounded to NEAR zero from -3.8 two weeks prior, indicating traders are no longer aggressively positioning for price appreciation. Similar caution appears in Deribit's options market, where short-term calls trade at parity with puts for the first time in months.
All eyes now turn to the $10 billion BTC options expiry looming overhead, with the $95,000-$105,000 range emerging as a critical battleground for Bitcoin's next directional move.
BlackRock’s iShares Bitcoin Trust (IBIT) Continues Market Domination with Record Inflows
BlackRock’s iShares bitcoin Trust (IBIT) has solidified its position as the dominant player in the US spot Bitcoin ETF market, absorbing nearly all of the $432.7 million inflows on May 28. This marks the tenth consecutive day of net positive flows, bringing the sector's total to $4.26 billion since the streak began. While Ark Invest’s ARKB and Fidelity’s FBTC saw minor outflows, other issuers remained stagnant, allowing IBIT to extend its lead with $49 billion in cumulative inflows since January.
The fund’s performance defies expectations. Since April 9, IBIT has recorded inflows on 30 of 33 trading days, amassing $9.31 billion and pushing its assets under management to $72 billion. Bloomberg’s Eric Balchunas notes this places IBIT among the top 25 ETFs globally—a staggering feat for a product launched just months ago. "The market projected $10 billion for the entire spot Bitcoin ETF category," said ETF Store President Nate Geraci. "IBIT alone hit that threshold in weeks."
Pakistan Announces Strategic Bitcoin Reserve Amid Economic Challenges
Pakistan is making a bold foray into the cryptocurrency market with plans to establish a state-backed "Strategic Bitcoin Reserve." Bilal bin Saqib, President of the Pakistan Cryptocurrency Council, revealed the initiative at the Bitcoin 2025 Conference in Las Vegas. The reserve, supervised by the central bank, will hold BTC indefinitely, mirroring long-term strategies employed by the U.S. government.
The MOVE positions Pakistan as the first South Asian nation to adopt such a reserve, aiming to create a financial buffer rather than engage in speculative trading. With the U.S. holding an estimated 463,741 BTC, Pakistan seeks to build its own "strategic shield" through this unprecedented commitment.
Bitcoin’s Open Interest Hits Record High As Traders Eye Big Moves Ahead
Bitcoin’s price is back in the spotlight as open interest for its options contracts surges to an unprecedented $46.2 billion, marking a 126% increase since January. The cryptocurrency currently trades around $108,567, showing modest retreat from recent highs.
Glassnode data reveals this explosive growth in derivatives activity, with open interest more than doubling from $20 billion in early 2025. The record-breaking metric signals intensified speculation from both bullish and bearish traders positioning for Bitcoin’s next major price movement.
Open interest serves as a critical gauge of market participation, reflecting fresh capital entering derivatives markets. The current surge coincides with growing caution near the $110,000 resistance level, suggesting traders are hedging against potential volatility.
Bitcoin Could Rally to $160,000 as MACD Turns Bullish, Says Analyst Dave the Wave
Bitcoin's long-term monthly MACD indicator has flipped positive, signaling potential for a major price surge. Analyst Dave the Wave—known for accurately predicting the 2021 crash—now forecasts a climb to $160,000. The cryptocurrency currently fluctuates between $75,000 and $160,000, with $100,000 serving as critical support.
Historical patterns suggest MACD crossovers often precede significant rallies. Weekly candlestick patterns show rising lows, reinforcing the bullish technical structure. However, volatility remains a persistent risk factor for traders.
Bitcoin Solaris Projected for 4X Growth from Presale to Launch, Outperforming Market Averages
Bitcoin Solaris (BTC-S) is generating significant attention with Live Coin Watch confirming a projected 4X return from presale to launch. The token's dual-layer blockchain architecture combines SHA-256 PoW for security with DPoS for efficient smart contract execution, achieving 2-second finality and up to 100,000 TPS.
The upcoming Solaris Nova app aims to democratize mining by enabling smartphone participation, eliminating the need for expensive rigs. Reward distribution is designed to benefit mobile miners, validators, and stakers alike, creating a more inclusive economic model.
This development represents a tangible evolution of Bitcoin's original ideals, focusing on scalability and programmability while maintaining decentralization. The project's technical capabilities position it to support DeFi, NFTs, and advanced dApps at scale.
