Bitcoin News Today: Smarter Web Embraces Bitcoin Treasury Strategy as Bull Run Nears 150 Weeks

The Smarter Web Company, a London-listed web design and marketing firm, has elevated Bitcoin analyst Jesse Myers to a full-time role as it formalizes a cash-and-Bitcoin treasury policy. Myers, known for his work on Bitcoin valuation frameworks, previously inspired the “Bitcoin 24” model adopted by Michael Saylor at MicroStrategy. The company aims to emulate Bitcoin treasury strategies seen in firms like Metaplanet in Japan and MicroStrategy in the U.S., positioning itself as a leading player in the UK market. Smarter Web recently disclosed that Myers invested £970,000 in its fundraising round and now holds a full-time post overseeing the firm’s dual cash and Bitcoin reserve strategy [1].

Bitcoin’s price recently pushed above $113,000, with traders and analysts closely monitoring key levels for signs of a sustained bullish recovery. The cryptocurrency reclaimed its 100-day exponential moving average (EMA-100) at $110,850, a critical level for confirming a bottom formation. Traders like BitBull and Roman have expressed contrasting views on the price action, with some suggesting a rally toward $116,000–$117,000 could follow if the support at $112,000 holds. Conversely, others have warned of a potential “double top” formation, with a breakdown below $112,000 potentially triggering a move toward $102,000 [2].

The debate over the longevity of the current bull market continues, with market participants divided on the timing of the next bearish phase. Historical data suggests that the current bull run has lasted 144 weeks, trailing the previous 152-week cycle. Some analysts, like Rekt Capital, argue that the bull market is nearing a critical juncture, with October likely serving as a deadline for a potential bearish shift. This view contrasts with optimism from figures like David Bailey, the dedicated Bitcoin adviser to U.S. President Donald Trump, who believes the next bear market is years away due to the growing institutional adoption of Bitcoin [2].

The CME Group’s Commitments of Traders (COT) report for Bitcoin futures as of August 19, 2025, reveals a mixed landscape of long and short positions. Non-commercial traders hold the majority of the long positions, with 23,064 long contracts compared to 24,264 short positions. Commercial traders maintain a smaller but significant presence, with 1,552 long and 794 short contracts. The data reflects ongoing uncertainty in the market, with longs and shorts evenly split and indicating a lack of consensus on Bitcoin’s near-term direction [3].

On-chain metrics and price models provide additional insight into Bitcoin’s current state. The Cost Basis Distribution (CBD) Heatmap highlights a dense accumulation zone between $93,000 and $110,000, acting as a potential support level. Bitcoin’s recent pullback to $111,000 has allowed for supply redistribution at discounted prices, gradually filling the “air gap” observed in earlier reports. Short-term holders, particularly those with a cost basis around $113,600 and $107,000, remain under stress, increasing the likelihood of selling pressure during any rally. The market’s resilience above $110,000 suggests that further correction would require significant short-term sell pressure or a prolonged period of weak demand to trigger capitulation among these investors [4].

Exchange data and sentiment indicators reinforce the fragile state of the Bitcoin market. The spot market has neutralized, with Cumulative Volume Delta (CVD) converging toward zero, indicating a lack of strong buying or selling pressure. In contrast, perpetual futures markets have shown a bearish tilt, with CVD bias declining into negative territory across major exchanges like Binance and Bybit. Funding rates have remained near 0.01%, signaling a fragile equilibrium where a slight shift in sentiment could tip the market further downward. The absence of significant SOPR (Spent Output Profit Ratio) activity below 1 suggests that investors are not aggressively realizing losses, which contrasts with the deep capitulation seen in prior bear markets [4].

Source:

[1] Smarter Taps Bitcoin Analyst Jesse Myers as Treasury Consultant (https://finance.yahoo.com/news/smarter-taps-bitcoin-analyst-jesse-155008457.html)

[2] Bitcoin Trader Sees $117K Coming as BTC Price Reclaims Key Trend Line (https://cointelegraph.com/news/bitcoin-trader-sees-117k-coming-btc-price-reclaims-key-trend-line)

[3] CFTC Commitments of Traders Report - CME (Futures Only) (https://www.cftc.gov/dea/futures/deacmesf.htm)

[4] Top Buyers Under Stress (https://insights.glassnode.com/the-week-onchain-week-34-2025/)