$BTC slipped over 2% today, with prices dipping below $113,000 after briefly struggling to hold the $115,000 threshold. This pullback reflects a confluence of market-wide headwinds rather than a liquidation cascade.
Key drivers of today’s decline include:
Weak U.S. jobs data & tariff fears
Disappointing July non-farm payroll figures combined with fresh commentary on potential new tariffs have sown uncertainty across all asset classes, prompting short-term traders to reduce crypto exposure.
Short-term profit-taking
With BTC recently flirting near its cycle highs, many holders have booked profits, especially as leveraged positions remain relatively low—liquidations amounted to just \$110 million, suggesting no systemic deleveraging is underway.
Near-term outlook
Technical and on-chain indicators point to a likely stabilization.
The low liquidation environment and continued institutional purchases (notably by MicroStrategy and other corporate treasuries) argue against a deeper crash.
Should U.S. economic data improve, expect a rebound toward $116,000–$118,000.
However, if macro sentiment sours further, support at $110,000 may come into focus as the next defensive barrier.
Traders should monitor U.S. data releases and regulatory updates closely to gauge whether these dips represent buying opportunities or the start of a deeper correction.
