Bitcoin News Today: Conferences Spark Paradox: Bullish Buzz Follows by Bitcoin Sell-Offs

Bitcoin's price has recently exhibited bearish signals, including a so-called "death cross," as the asset continues to grapple with volatility and uncertainty. As of late August 2025, Bitcoin has dropped to approximately $108,400, marking a nearly 8% decline from its recent high and the lowest level since July. This downturn coincided with the Bitcoin Asia conference in Hong Kong, an event known for its influence on market sentiment. The pattern of declining prices during such conferences is not new; the same dynamic was observed during the Bitcoin Magazine's annual U.S. conference in early June. These events are often accompanied by strong bullish narratives, which can later give way to a reevaluation by the market, leading to sell-offs [1].

The "death cross" is a technical indicator formed when a short-term moving average crosses below a long-term moving average. While the indicator is widely used in traditional markets, its significance in the context of Bitcoin is still being interpreted. Some analysts suggest that it may indicate a potential macro top, although this remains speculative and subject to market conditions. The recent price action has triggered caution among investors, with spot demand appearing neutral and perpetual futures leaning bearish but fragile. This sentiment is reflected in the market's reaction to the Bitcoin Asia conference, which, despite drawing high-profile speakers like Eric Trump, Changpeng Zhao, and Adam Back, has not spurred a sustained rally [2].

Amid the pullback, Bitcoin has found some support around the 100-day Exponential Moving Average (EMA), currently at $110,884. As of early September, the price has rebounded above $113,000, offering a slight sense of optimism. However, the Relative Strength Index (RSI) remains at 46, below its neutral level of 50, indicating that bearish momentum is still prevalent. For the upward trend to solidify, the RSI would need to move above this threshold. If Bitcoin continues its descent, it could face further support at $103,922, the 200-day EMA [2].

Bitcoin's institutional adoption remains a key factor in its performance. According to recent data, spot ETFs have recorded a mild inflow of $81.25 million over the past three days, suggesting continued interest from institutional players. This trend could support a potential recovery, especially if the inflows intensify. However, the derivatives market shows a more bearish outlook. Glassnode data indicate that the Cumulative Volume Delta (CVD) has turned negative, reflecting a shift in sentiment among speculative traders [2].

The broader macroeconomic environment and regulatory developments also play a role in Bitcoin’s valuation. The recent Policy Statement 2.0 in Hong Kong and the Stablecoins Ordinance have positioned the region as a testing ground for crypto innovation in China, where the asset class remains banned on the mainland. These regulatory shifts may influence future adoption rates and investor sentiment, particularly in the Asia-Pacific region, where 43% of the world's crypto ownership was recorded in 2023 [2].

Source:

[1] Bitcoin Hammered Below $109k as Conference Indicator Strikes Again (https://www.coindesk.com/markets/2025/08/29/bitcoin-hammered-below-usd109k-as-conference-indicator-strikes-again)

[2] BTC Recovers as Bitcoin Asia Kicks Off in Hong Kong (https://www.mitrade.com/insights/news/live-news/article-3-1076193-20250828)