Bitcoin has just shaken the entire crypto market with a sharp breakdown — plunging from its recent peak of $123,218 to a daily low of $112,722, wiping out nearly $10,500 in value in days. The current price hovers around $113,141, signaling a -2.47% dip in 24 hours.
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📊 Live Market Snapshot (Aug 1, 2025):
Current Price: $113,141
24h High: $116,362
24h Low: $112,722
24h Volume: 25,214 BTC (~$2.9 Billion)
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❗ What’s Fueling This Aggressive Drop?
🔹 1. Major Support Levels Cracked:
Bitcoin sliced through crucial supports at $118,900 → $115,500 → $113,776 — once solid demand zones, now acting as resistance.
🔹 2. Whale Exit Liquidity Play:
Massive sell-offs around the $123K region suggest whales cashed out, setting off liquidation dominoes and triggering cascading stop-losses.
🔹 3. Weak Buyer Defense:
No significant bounce near the $112.7K low indicates bulls are hesitating — not a good sign for short-term recovery.
🔹 4. Risk-Off Sentiment Rising Globally:
Market jitters are being amplified by geopolitical friction — including Trump's controversial India-Russia remarks — spooking investors across the board.
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📉 Multi-Timeframe Breakdown:
🕐 1-Hour Chart
Freefall from $118.9K
Weak bounce = likely a bearish retest of $113.7K
Volume favors sellers
⏱️ 4-Hour Chart
Steady downtrend
Sharp rejection from $119.8K
Bearish MA(5/10) crossover
Eyes on $112.7K — break here, and we fall further
📅 Daily Chart
Bearish engulfing candle closes below $115K
Lost steam after peaking at $123K
Next support zones: $107,957 → $102,453
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🔮 What Comes Next?
📌 Scenario 1: Relief Bounce (Low Odds)
If BTC reclaims $115.5K with convincing volume, we might revisit the $117.8K–$118.9K range.
🔺 Watch for: RSI divergence, positive macro triggers.
📌 Scenario 2: Deeper Breakdown (Higher Probability)
Failure to hold $112.7K could see BTC spiral down toward:
👉 $110K → $107K → $102K
🔻 Triggers: Whale selloffs, weak bounce volumes, broader market fear.
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🧠 Pro Trader Playbook:
✅ Scalpers: Wait for rejection/reclaim of $113.7K before entry.
✅ Swing Traders: Stay cautious — no longs unless $115.5K flips into support.
✅ Spot Investors: Watch zones between $107K–$102K for strategic DCA entries.
⚠️ Leverage Traders: Use tight stops — volatility is hunting overexposed positions.
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🔥 Final Word:
Bitcoin is officially in correction territory. While this may just be a temporary dip in a broader uptrend, the next 48 hours will be critical. A failure to defend $112.7K could quickly turn this into a freefall toward $102K.
Smart money is patient. Panic sellers and FOMO buyers are usually the ones left holding the bags.
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📍 Key Levels to Watch:
Resistance: $113.7K / $115.5K / $118.9K
#WhiteHouseDigitalAssetReport $BTC
Support: $112.7K / $110K / $107K / $102K
📌 Stay sharp. Stay unemotional. Trade the chart, not the hype.
