**Price Context:** - Bitcoin is currently trading around **…

**Price Context:**
- Bitcoin is currently trading around **$117,000** (down from recent highs)
- The market has been in a **consolidation phase** between $115,000-$118,000 through July 2025
- **Volatility has increased** recently, with implied volatility jumping from 33% to 37%
- Recent price drops are attributed to **macroeconomic concerns** and shifting investor sentiment