BTC: As of August 4, 2025, the current price of BTC is $114,500; yesterday's closing pattern was a "small bullish candle," with relatively low trading volume, indicating a temporary advantage for bulls, but momentum has not fully released.

On-chain data shows that yesterday's turnover rate significantly decreased, and panic sentiment did not continue; the outflow of funds mainly came from short-term losing players, while early holders adopted a wait-and-see attitude.

URPD data shows that there are 1.512 million bitcoins accumulated in the $103,500 to $108,500 range, making it the first strong support level; in the $93,500 to $98,500 range, there are 1.625 million bitcoins accumulated, serving as the second strong support level.

Overall, the current price has successfully filled the critical gap area below $112,000. According to chip distribution data, this range is located between two major accumulation zones from the previous period, representing the "critical zone" of market supply and demand game. If a new round of chip turnover can form around $112,000, the possibility of challenging the highs again cannot be ruled out; conversely, if the buying power is insufficient and it breaks through support, Bitcoin may enter the strong support area between $103,500 and $108,500, where nearly 1.512 million bitcoin chips are supporting, providing strong defensiveness. Clearly, for traders, this pullback may be a good opportunity for bargain hunting.