Bitcoin remains below $80K – THIS divergence can help BTC’s September breakout

A significant divergence is forming, one that you should keep an eye on.

After a powerful almost 25% weekly increase, Bitcoin’s price peaked at the level of almost $79k, pushing short-term holders (STHs) deeper into profit. Against this backdrop, BTC’s 1% intraday pullback could point to a supply zone forming near $80k, as some STHs took profits off the table.

Bitcoin’s Fear & Greed Index is the one exposing this divergence. As the chart below shows, the index closed the week more than 9% lower from the 70-level, moving away from the “Greed” territory even as BTC remains close to its recent highs.

To summarize, the divergence between price and sentiment, although still short-term, has caught analysts’ attention, raising speculation about a potential manipulation tactic developing underneath Bitcoin’s [BTC] price action.

In this context, the pullback in the index could signal cooling sentiment.

And yet, the cooldown appears to have had little effect on demand. In fact, ETFs have bought the lion’s share of BTC in the past few days, and the on-chain spot bids forming around $80k are still holding up.

This raises the question: Are bigger players “deliberately” cooling sentiment to shake out weak hands before a potential move back above $82k?