The price of Bitcoin has dropped by $10,000 from its recent peak, falling from its record high of over $123,000 in mid-July to $113,000.
This retreat came after a period of relative stability within a range of $117,000 to $120,000, without any decisive breakthroughs.
The actual decline began at the end of July, following a failed attempt to break through the $119,000 level, with a three-week low recorded at less than $112,000.
Analyses indicate that this drop is due to a combination of macroeconomic pressures and an increase in Bitcoin sell-offs by investors, including mining companies offloading more than 3,000 Bitcoin over two weeks, according to analyst 'Ali Martinez'.
Miners have offloaded over 3,000 Bitcoin $BTC in the past two weeks! pic.twitter.com/enP4JtUyMs
— Ali (@ali_charts) August 2, 2025
This sharp decline led to the liquidation of nearly a billion dollars in high-leverage trading positions, exacerbating the downturn.
Analyst 'Martinez' identified the next support zones between $105,000 and $107,000, emphasizing the importance of the $107,100 level as a pivotal accumulation point that could play a role in determining the future direction of Bitcoin's price.
Despite the decline, the cryptocurrency is still trading above critical support levels, but volatility is expected to continue, especially with the opening of financial markets on Monday and the possibility of impactful statements from U.S. President 'Donald Trump', who is known for making significant announcements every Sunday that could affect the markets.
