Bitcoin traders absorb the dips but ‘ghost month’ could extend woes

3 days ago

Key takeaways:

Bitcoin marks its steepest pullback successful a month, with the shade period inclination hinting astatine further downside to $105,000.
Onchain information shows a emergence successful US and Korean spot demand, pointing to a short-term recovery.

Bitcoin (BTC) saw a crisp correction connected Thursday, slipping beneath $117,000 connected Aug. 14, marking its steepest pullback successful a month. The regular illustration flashed a bearish engulfing signifier for the archetypal clip since July 15, raising concerns that seasonal weakness during Asia’s “ghost month” could widen the downturn.

Despite the dip, onchain information constituent to resilient dip-buying activity. The Coinbase Premium Index climbed to a monthly precocious yesterday, signaling beardown US spot demand. In Asia, the Kimchi Premium Index turned positive, indicating renewed Korean buying pressure.

Crypto trader Hansolar summed up the sentiment and said corporate bargain bids were dispersed crossed Coinbase, Bitfinex, and the South Korean market.

The bullish undertone is further supported by stablecoin flows. According to crypto expert Maartunn, USDC inflows to exchanges surged to $3.88 cardinal since the terms dip, suggesting traders are gearing up to deploy capital.

Data besides indicates that capitulation signs were muted. Just 16,800 BTC were moved to exchanges astatine a nonaccomplishment by short-term holders (STHs), good beneath volumes seen successful past sell-offs. For context, previously, erstwhile Bitcoin dipped much than 5%, implicit 48,000 BTC were sold astatine a nonaccomplishment by STHs.

📊MARKET UPDATE: #Bitcoin slipped 5% connected Aug. 14, but capitulation signs were muted with conscionable 16.8K $BTC moved to exchanges astatine a nonaccomplishment from Short-Term Holders, acold little than successful past drawdowns.

Blue arrow inclination shows shrinking STH merchantability pressure. 👍 pic.twitter.com/sVUvRSVXj5

— Cointelegraph Markets & Research (@CointelegraphMT) August 15, 2025

Can ‘ghost month’ widen BTC’s correction period?

Anonymous expert Exitpump notes that Bitcoin could find enactment betwixt $116,000 and $117,000, wherever some spot and futures buying involvement is showing up successful the bid books.

While this could pb to swift recovery, a recurring seasonal signifier tied to Asia’s “ghost month” has often coincided with crisp pullbacks.

This year’s ghost month runs from Aug. 23 to Sept. 21. In the Chinese lunar calendar, it marks the seventh period of the year, a play often associated with atrocious luck successful Asian culture. While the improvement doesn’t straight interaction markets, its intelligence effect connected traders tin beryllium significant, influencing hazard appetite and profit-taking behavior.

Historically, Bitcoin has shown a inclination to merchantability disconnected during shade month. Since 2017, BTC’s mean highest diminution successful this play has been astir 21.7%, with notable drops specified arsenic -39.8% successful 2017 and -23% successful 2021.

With Bitcoin presently hovering adjacent $117,320, a drawdown successful enactment with the humanities mean could resistance prices into the $105,000–$100,000 scope earlier immoderate meaningful rebound. This aligns with cardinal method enactment zones, wherever semipermanent buyers whitethorn look to measurement in.

While immoderate years person ended shade period with affirmative ROI, the recurring mid-period volatility means traders should stay cautious. Any deeper correction into precocious August could acceptable the signifier for a stronger betterment successful Q4, aft investigating the resoluteness of short-term bulls.

This nonfiction does not incorporate concern proposal oregon recommendations. Every concern and trading determination involves risk, and readers should behaviour their ain probe erstwhile making a decision.

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