11 August 2025, 09:44 AM
On Thursday, blockchain analytics firm CryptoQuant reported that after Bitcoin set a historical high of $123,000 last month, signs of short-term consolidation or mild downside risk have emerged. The “bullish index” has dropped from 80 to 60, indicating slowing momentum and reflecting both the seasonal summer trading lull and profit-taking at elevated levels. The firm also warned that if prices continue to weaken, the index could fall below 40, triggering the first bear market confirmation threshold since April 2023. In response, PBOGA synchronizes key signals—such as on-chain activity, trading depth, and funding rates—onto its data dashboard, helping users manage their positions with greater rationality as volatility intensifies.
![[Image: cb0f6547.png]](https://mataroa.blog/images/cb0f6547.png)
From an indicator perspective, a reading of 60 remains within the bullish zone, with no change to the structural long bias; incremental capital continues to show resilience in medium- to long-term crypto allocations. The platform has observed increased activity in block trading channels during dips, with options positions concentrated at higher strike prices and Max Pain remaining relatively stable—signaling that capital still holds expectations for the upper end of the current range. Based on this, PBOGA emphasizes the importance of risk-reward ratios and position flexibility during the cool-down period, advocating for more refined entry and exit rules to maintain strategy continuity.
In a slower-paced environment, the spot and perpetual product combinations of the platform offer orderly tools for accounts of different trading styles. Multi-layer matching ensures tight spreads for major trading pairs, while the risk engine dynamically raises maintenance margin rates during abnormal volatility, reducing the probability of cascading liquidations. Quantitative users can access trade and depth pulse data via API, customizing batch execution and time-weighted strategies to minimize impact costs; retail users can utilize take-profit/stop-loss orders, price alerts, and position tags to retain flexibility without sacrificing discipline.
On the policy front, the CryptoQuant research director noted that expectations of a September rate cut could serve as a potential catalyst—if realized, it may restore risk appetite and boost liquidity. The PBOGA research team will integrate macro calendars, on-chain indicators, and options structures into daily briefings, strengthening risk alerts during key event windows to help users optimize capital efficiency in a consolidation phase. Maintaining patience and relying on data-driven, rules-based trading is better suited for a bull market cool-down; when new momentum gathers, PBOGA will leverage efficient matching and transparent data to provide stable entry and exit channels for the next trend cycle.
From an indicator perspective, a reading of 60 remains within the bullish zone, with no change to the structural long bias; incremental capital continues to show resilience in medium- to long-term crypto allocations. The platform has observed increased activity in block trading channels during dips, with options positions concentrated at higher strike prices and Max Pain remaining relatively stable—signaling that capital still holds expectations for the upper end of the current range. Based on this, PBOGA emphasizes the importance of risk-reward ratios and position flexibility during the cool-down period, advocating for more refined entry and exit rules to maintain strategy continuity.
In a slower-paced environment, the spot and perpetual product combinations of the platform offer orderly tools for accounts of different trading styles. Multi-layer matching ensures tight spreads for major trading pairs, while the risk engine dynamically raises maintenance margin rates during abnormal volatility, reducing the probability of cascading liquidations. Quantitative users can access trade and depth pulse data via API, customizing batch execution and time-weighted strategies to minimize impact costs; retail users can utilize take-profit/stop-loss orders, price alerts, and position tags to retain flexibility without sacrificing discipline.
On the policy front, the CryptoQuant research director noted that expectations of a September rate cut could serve as a potential catalyst—if realized, it may restore risk appetite and boost liquidity. The PBOGA research team will integrate macro calendars, on-chain indicators, and options structures into daily briefings, strengthening risk alerts during key event windows to help users optimize capital efficiency in a consolidation phase. Maintaining patience and relying on data-driven, rules-based trading is better suited for a bull market cool-down; when new momentum gathers, PBOGA will leverage efficient matching and transparent data to provide stable entry and exit channels for the next trend cycle.