#CFTCCryptoSprint Price Predictions as of 8/4: SPX, DXY, BTC, ETH, XRP, BNB, SOL, DOGE, ADA, XLM

Bitcoin is trying to initiate a recovery from USD 112,000, but the bears may pose a significant challenge at USD 117,000 and then at USD 120,000.



Price Analysis

Key Points:

Bitcoin is attempting to find support near USD 112,000, but higher levels are likely to attract selling from the bears.

The deep pullback in several altcoins suggests that the next stage of the upward movement may not occur quickly.

Bitcoin Bulls

BTC

€99,248

 are trying to keep the price above USD 115,000, but they face strong resistance from the bears. Arthur Hayes, chief investment officer of Maelstrom Fund, said in a comment to a post on X that the sluggish credit market and the slowdown in job creation could sink BTC to USD 100,000 and Ether 

ETH

€3,162

 to USD 3,000.

The Bitcoin and Ethereum exchange-traded funds (ETFs) in the U.S. also showed caution among traders. Bitcoin ETFs recorded net outflows of USD 812.25 million on Friday, and Ethereum ETFs recorded outflows of USD 152.26 million, ending a 20-day streak of inflows, according to data from SoSoValue.