Bitcoin (BTC) has just triggered market-wide panic, crashing from its recent high of $123,218 to a daily low of $112,722 ā 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: $113,141
24h High: $116,362
24h Low: $112,722
Volume (USDT): $2.9 Billion
Volume (BTC): 25,214 BTC
ā Whatās Triggering This Sharp Sell-Off?
šø 1. Technical Breakdown:
BTC has broken down from key supports:
$118,900 ā $115,500 ā $113,776
These levels were acting as strong demand zones, but now flipped into resistance, confirming a bearish structure.
šø 2. Whale Selling at Peak Levels:
Whales likely offloaded huge volumes at the $123K region, creating cascading liquidations and triggering automated stop-losses.
šø 3. Weak Buyer Reaction at Supports:
Even as BTC touched $112,722, there was no significant bounce volume, indicating weak confidence from bulls.
šø 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.
š Multi-Timeframe Technical Breakdown
š 1H Chart:
Rapid drop from $118.9K
Current bounce looks weak ā likely a bearish retest of the $113.7K zone
Volume suggests sellers still in control
ā±ļø 4H Chart:
Downtrend clearly intact
Major rejection from $119.8K
MA(5) and MA(10) show a bearish crossover
Price struggling to hold $113.2K ā risk of slipping below $112.7K again
š 1D Chart:
Massive bearish engulfing candle
Lost bullish momentum after peak at $123K
If $112.7K breaks decisively, next strong support lies at $107,957, then $102,453
š® Whatās Next for Bitcoin?
š Short-Term Scenarios:
ā
Scenario A ā Relief Rally (Low Probability):
If BTC reclaims $115.5K with volume, it may retest $117.8Kā$118.9K.
šŗ Trigger for bounce: RSI divergence or macro news boost.
ā Scenario B ā Breakdown Continues (More Likely):
Failure to hold $112.7K opens the path to $110K ā $107K ā $102K.
š» Trigger: Further whale exits, low-volume bounces, or broader market fear.
š§ Pro Traderās Correction Strategy:
Scalpers: Wait for clear rejection or reclaim at $113.7K before entry
Swing Traders: Avoid longs unless $115.5K flips support
Spot Buyers: Consider DCA near $107Kā$102K, long-term support
Leverage Users: Use tight stops ā high volatility will hunt overexposed positions
š„ 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, weāre likely heading toward $107K and below.
Smart money is sitting tight. FOMO or panic = REKT.
š Key Levels to Watch:
Resistance: $113.7K / $115.5K / $118.9K
Support: $112.7K / $110K / $107K / $102K
