This week marks a critical period for Bitcoin as both technical signals and broader macroeconomic trends intertwine, creating uncertainty about the cryptocurrency’s future direction. Recent comments by Jerome Powell suggesting possible interest rate cuts in September have fueled growth across risky assets, prompting Bitcoin to inch higher despite a lack of decisive strength. While macro liquidity may still offer room for expansion, on-chain data suggests that current market conditions are characterized by a lack of fresh inflows, leading to a stagnant network and muted price action. The absence of both new buyers and institutional demand has prevented Bitcoin from breaking through resistance levels. Even though dovish macroeconomic tailwinds might drive short-term gains, the cryptocurrency’s recent struggles highlight the vital need for fresh buying pressure.