Bitcoin (BTC) has just triggered market-wide panic, crashing from its recent high of $123,218 to a daily low of $112,722 â wiping out nearly $10,500 in value within a few days. As of now, BTC is trading around $113,141, marking a sharp -2.47% drop in the last 24 hours.
Real-Time Price Snapshot (Aug 1, 2025):
Current Price: $113,14124h High: $116,36224h Low: $112,722Volume (USDT): $2.9 BillionVolume (BTC): 25,214 BTC
â Whatâs Triggering This Sharp Sell-Off?
đ¸ 1. Technical Breakdown:
BTC has broken down from key supports:
$118,900 â $115,500 â $113,776
These levels were acting as strong demand zones, but now flipped into resistance, confirming a bearish structure.
đ¸ 2. Whale Selling at Peak Levels:
Whales likely offloaded huge volumes at the $123K region, creating cascading liquidations and triggering automated stop-losses.
đ¸ 3. Weak Buyer Reaction at Supports:
Even as BTC touched $112,722, there was no significant bounce volume, indicating weak confidence from bulls.
đ¸ 4. Global Risk Sentiment Shifting:
Geopolitical comments, including Trump's controversial remark on India-Russia economic ties, and broader macro jitters may have shaken investor confidence.
đ Multi-Timeframe Technical Breakdown
đ 1H Chart:
Rapid drop from $118.9KCurrent bounce looks weak â likely a bearish retest of the $113.7K zoneVolume suggests sellers still in control
âąď¸ 4H Chart:
Downtrend clearly intactMajor rejection from $119.8KMA(5) and MA(10) show a bearish crossoverPrice struggling to hold $113.2K â risk of slipping below $112.7K again
đ 1D Chart:
Massive bearish engulfing candleLost bullish momentum after peak at $123KIf $112.7K breaks decisively, next strong support lies at $107,957, then $102,453
đŽ Whatâs Next for Bitcoin?
đ Short-Term Scenarios:
â
Scenario A â Relief Rally (Low Probability):
If BTC reclaims $115.5K with volume, it may retest $117.8Kâ$118.9K.
đş Trigger for bounce: RSI divergence or macro news boost.
â Scenario B â Breakdown Continues (More Likely):
Failure to hold $112.7K opens the path to $110K â $107K â $102K.
đť Trigger: Further whale exits, low-volume bounces, or broader market fear.
đ§ Pro Traderâs Correction Strategy:
Scalpers: Wait for clear rejection or reclaim at $113.7K before entrySwing Traders: Avoid longs unless $115.5K flips supportSpot Buyers: Consider DCA near $107Kâ$102K, long-term support
Leverage Users: Use tight stops â high volatility will hunt overexposed positions
đĽ Final Take
Bitcoin just entered a short-term bear zone. While this could be a healthy correction in a longer bull market, the next 48 hours are critical. If BTC loses $112.7K, weâre likely heading toward $107K and below.
Smart money is sitting tight. FOMO or panic = REKT.
đ Key Levels to Watch:
Resistance: $113.7K / $115.5K / $118.9KSupport: $112.7K / $110K / $107K / $102K
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