Here’s a recent Bitcoin price chart, reflecting market movement as of August 1, 2025—the shaded CME‑futures gap is visible just above the current price level.



📉 Crypto Market Update — August 1, 2025


Market Overview




  • The global cryptocurrency market capitalization dropped sharply, down about 6–7%, now sitting near $3.83 trillion with all major coins showing red across the board (CoinGecko).



  • 24-hour trading volume surged to between $163–205 billion, indicating heightened activity despite the decline (CoinMarketCap, Cryptonews).


Bitcoin (BTC)




  • BTC has fallen roughly 2.3–3.2%, trading between $114,800 and $115,000, sliding below the $115.2K support level amid market jitters (Coinpedia Fintech News).



  • Market analysts note a CME futures gap in the $114.7K–$115K zone, which BTC is attempting to fill. Historically, over 80% of these gaps are eventually closed—a technical setup that could trigger a rebound if filled swiftly (Coinpedia Fintech News).


Ethereum (ETH) & Altcoins




  • ETH dropped approximately 2.5–4%, trading below $3,700, with rising pressure toward support levels around $3,600–$3,550 and bearish risk extending to $3,400 or lower (Barron's, CoinMarketCap, m.economictimes.com).



  • Broader markets saw sharp declines: XRP down ~6%, Solana ~9.5%, and Dogecoin ~6%, reflecting widespread deleveraging in risk assets (Barron's).


Macro Drivers




  • The sell‑off was largely triggered by new U.S. tariff announcements, including a 10% global baseline and a 35% tariff on Canadian imports, which spooked markets and caused a shift to safe-haven assets (Barron's).



  • Liquidations of leveraged crypto positions added further downward momentum, with over $600 million in crypto longs reportedly wiped out in volatile trading (coindesk.com).



  • A stronger U.S. dollar, including the Dollar Index topping 100, weighed on crypto sentiment and reduced risk appetite (coindesk.com).


Institutional and Regulatory Outlook




  • Despite volatility, institutional interest remains strong: Bitcoin and Ethereum spot ETFs continue attracting inflows, even as BTC ETF volumes saw a recent pullback nightly outflows (Cryptonews).



  • Ethereum, in particular, has gained traction—growing ~54% in July alone versus 10% for Bitcoin—supported by ETF launches (BlackRock, Fidelity, Grayscale) and the passage of the GENIUS Act paving way for stablecoin issuance and broader adoption (businessinsider.com).


Technical Angle & Forecast




  • Bitcoin: The immediate range is $114.7K–$118K; successful gap fill and buyer support here may pave way to test $120K–$123K next. However, breaking below $114K could risk targeting $106K–$110K (binance.com, m.economictimes.com).



  • Ethereum: Key levels are $3,550 support and resistance at $3,700–$4,100. A sustained breakout past $4K could fuel continuation scenarios, while a drop to $3,400–$3,000 remains possible under negative sentiment (m.economictimes.com, Cryptonews).



🧭 Bottom Line




  • Crypto markets are in retreat amid tariff worries, institutional profit-taking, and dollar strength.



  • Bitcoin is testing critical technical support and may rebound if it fills the CME gap.



  • Ethereum continues to benefit from ETF flows and regulatory advances, though its path is volatile.



  • Broader sentiment remains fragile: a rebound is possible if macro stress eases—but continued downside risk shouldn’t be ignored.


Let me know if you’d like a deeper technical breakdown, altcoin highlights, or trend tracking around ETFs or sentiment.



  • Barron's


  • The Economic Times


  • businessinsider.com