BTC Price: $113,800 (↓1.9% 24h)
Market sentiment: Neutral (Fear & Greed Index: 51)
⚠️ Factors Causing Pressure:
1. Weak US employment data
→ Lowest growth since 2020, raising concerns of recession
→ Investors are shifting to gold (↑1.5%)
→ Increasing expectations that the Fed will cut interest rates in September
2. Technical pressure
→ Breaking support at $119,364 (Fib 23.6%), targeting $114,500
→ Bad indicators: RSI 41.99 | MACD -867
3. Negative signals from the crypto market
→ Coinbase shares fell 18%
→ ETH reversed, losing 6% after gaining 40% in July
🔍 Outlook:
Monitoring the support level of $114,500 closely
Recovery needs cash flow from organizations
The strength of the USD remains a hindrance