The deadline for Trump's tariffs has ended, and Donald, wanting to show that he doesn't always back down, quite the opposite, signed an order to impose tariffs against many countries.
Interestingly, the rates are set quite chaotically - the friendly USA (to say the least) Israel received the same 15% as Venezuela, Switzerland received 39%, and Canada 35%.
Markets went down, and the dollar index went up. Bitcoin fell below 115K several times, with a local maximum set at 113988.
But then the labor market data came out. They were unexpected for the market. 258K jobs, which were mentioned in May-June, somehow disappeared. This significantly changes the probability of a Fed rate cut in September - that probability immediately doubled.
The dollar index fell by more than 1%, bond yields also went down; however, stock indices are also falling, as such a reduction in the labor market already hints at a recession. The S&P 500 is currently down more than 1.6%.
But the decline of the dollar index in the medium term is much more important and beneficial for the crypto market. So everything is going right.
Bitcoin struggled to reach 120K for a long time, moving in the range of 115000-12000. Now, the lower boundary of the range has shifted to 114000-115000. If, against the backdrop of further decline, Bitcoin funds drop below 114K with consolidation, the next support area will be at 112500-112000.
BUT that is IF it goes down.
So far, the priority option for Bitcoin is a range with a lower boundary at 114000-115000 and an upper boundary at 118000-118500.
An alternative option is consolidation below 114K.
Important levels (120K Bitcoin, 4K Ether, 4 trillion market capitalization of the crypto market) will be reached after refueling and further improvement in audience quality).
But refueling (even IF it happens below 114K) is temporary and short-term.
And the next movement of Bitcoin to 120K may be permanent.
Let's remember August of last year.
Bitcoin dropped to 60K, and then slightly lower.
Now it is also falling, but already towards 114K.
Perhaps, at the beginning of August 2026, there will also be a drop. For example, after prolonged unsuccessful attempts to reach 200K, it will fall below 185K. There will be panic and fear in the market).
Draw the right conclusions from these facts. The situation should be used as an opportunity. So that on August 1, 2026, we do not suffer like those who did not want to buy Bitcoin at 60K.
“TAKEN FROM THE MAIN CRYPTO CHANNEL”
