COINOTAG News reported on September 7 that CryptoQuant analyst Axel Adler Jr. observed a Bitcoin consolidation, writing that price action had been concentrated in the $110,000–$112,000 corridor—hovering around a noted key support level. Adler highlighted that derivative sellers had relinquished short-term dominance, yet the overall upward momentum remained muted, signaling a period of measured market equilibrium rather than directional conviction.

According to the analyst, several on-chain signals point to lower transactional activity and sustained exchanges’ net outflows, while macro factors—falling yields and a softer US labor market—provide conditional support for risk assets. Adler emphasized the market’s sensitivity to upcoming inflation data and imminent options expiry, framing the current phase as a cautious, consolidation-driven environment for traders and institutional allocators.