Recent data shows that Bitcoin holdings by companies are decreasing. Even though Bitcoin is still popular, companies labeled as “Bitcoin treasury companies” are buying less, taking a more cautious stance. Reports reveal these companies currently hold a record 840,000 Bitcoin but are buying less with each transaction. For example, Strategy’s purchases have plummeted by 86% from earlier this year, indicating possible financial strain or increased caution. El Salvador has bought gold for the first time since 1990, moving away from Bitcoin, hinting at a bearish outlook for Bitcoin. Japan is also considering tightening crypto regulations, which may calm speculative investments. However, institutional adoption of Bitcoin is still growing, even though it doesn’t clarify the market’s direction. The current Bitcoin price is at $112,035, showing a positive outlook when above $112,000. A drop below $111,520 would signal a downward trend. Plans for Bitcoin futures suggest bullish targets above $112,000, with key levels identified at $112,465 and $113,945. On the bearish side, targets below $111,520 start at $111,250. Strategies recommend careful trading and focus on risk management. The technical outlook is bullish as long as prices remain above $112,000. Still, caution is warranted since large corporate buyers are significantly slowing their purchases. This indicates that although prices are stable for now, the institutional momentum that helped boost them may be dwindling. In the derivatives market, we see signs of this uncertainty. Data from early September 2025 shows that open interest in futures has stayed flat, even with high prices. Additionally, the 30-day options skew has increased slightly, revealing a higher demand for put options that investors might use to hedge their long positions. For traders with a positive outlook, this environment favors risk-defined strategies instead of straightforward long futures. Call spreads can help in aiming for targets like $112,895 while limiting losses if support at $112,000 fails. Selling cash-secured puts below the bearish trigger of $111,520 can also offer market exposure or generate premium if the market stays steady. However, a clear break below $111,520 should signal a shift in sentiment. This would invalidate the current bullish setup and open targets for a decline, especially around the major support cluster near $110,755. Aggressive traders might seize this opportunity to start short futures positions or purchase puts. The mixed signals imply that volatility could rise in the upcoming weeks. The current hold above the 2021 all-time highs is a significant test, suggesting the market is ready for a larger movement. This makes strategies like long straddles or strangles appealing, particularly before any important political or regulatory announcements.

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