Analysis: BTC is currently maintaining above $110,000, and an upward momentum may be about to emerge.

Odaily News As August comes to a close, the mild pullback in Bitcoin may also be nearing its end. Bitcoin has fallen about 4% this month, down 12% from its historic high of $124,500, and is currently hovering around $110,580. Encouragingly, August's performance has been better than the past three years, and with the holiday season ending, trading activity in September should pick up. The options market points to a "max pain" level of $116,000, which refers to the strike price at which the maximum number of options expire worthless, typically causing the greatest financial pain to option holders while providing the greatest profit to option sellers. Given that this level is above the current Bitcoin spot price, it suggests that there may be upward potential ahead. (CoinDesk)