Bitcoin’s sideways trading is influenced by negative Binance taker volume and weak spot demand in the US and Korea. Despite hitting an all-time high of $123,100, retail-driven sell pressure is stalling momentum. Bearish sentiment is growing among retail participants, with Bitcoin Net Taker Volume dropping below $60 million.

Regional demand trends reflect caution, with the US Coinbase Premium Index flat and the Korea Premium Index in negative territory. Bitcoin’s price gap on Korean exchanges signals ongoing selling pressure. Despite this, Bitcoin holding above $110,000 to $115,000 shows a healthy two-sided market.

Aggressive sell pressure on Binance is being absorbed, indicating resilient demand at lower levels. Bitcoin must defend the mid-$110,000 region to maintain structural control, with a potential breakout favoring the prevailing uptrend. A move above $120,000 could trigger a strong rally past the current all-time high of $123,100.

Researcher Axel Adler Jr. notes that BTC remains in the growth zone, with market participants supporting buying activity. There is room for further upside towards $139,000 without a serious risk of overheating. This analysis suggests a positive outlook for Bitcoin’s price potential.

Read more at Cointelegraph: Bitcoin Liquidity Wars Persist But Bulls Aim For $140K