Date: August 1, 2025
Current BTC Price: \$113,141
24-Hour Change: -2.47%
Bitcoin (BTC) has triggered a wave of panic across the crypto markets, plummeting from a recent high of \$123,218 to a daily low of \$112,722, erasing nearly \$10,500 in value. As of now, BTC trades around \$113,141, leaving traders and analysts scrambling to assess whatโs behind the sudden drop โ and what lies ahead.
---
## ๐ Real-Time Market Snapshot
*Price:** \$113,141
*24H High:** \$116,362
*24H Low:** \$112,722
*24H Volume:**
*USDT Volume:** \$2.9 Billion
*BTC Volume:** 25,214 BTC
---
## โ Why Is Bitcoin Dumping?
### ๐ธ 1. Technical Breakdown
BTC has decisively broken multiple support zones:
* \$118,900 โ \$115,500 โ \$113,776
These key levels have now flipped into resistance, confirming a short-term bearish structure.
### ๐ธ 2. Whale Selling at Local Highs
On-chain data suggests whales offloaded large positions near the \$123K level, triggering cascading liquidations and stop-loss hunts across exchanges.
### ๐ธ 3. Weak Bullish Response
Despite testing \$112,722, Bitcoin failed to attract strong buying interest โ a sign that bullish confidence is weakening.
### ๐ธ 4. Risk-Off Sentiment Globally
Global macro tension is rising, especially after controversial geopolitical statements like Trumpโs remarks on India-Russia ties, further spooking investors.
---
## ๐ Technical Breakdown โ Multiple Timeframes
### ๐ 1-Hour Chart:
* Sharp drop from \$118.9K
Current price action suggests a *bearish retest** of \$113.7K
* Volume remains seller-dominated
### โฑ๏ธ 4-Hour Chart:
* Trend remains firmly downward
* Strong rejection at \$119.8K
* Bearish crossover on MA(5) and MA(10)
* Holding \$113.2K is critical โ or risk revisiting \$112.7K
### ๐ Daily Chart:
* Bearish engulfing candle pattern
* Momentum lost post-\$123K peak
* A clean break below \$112.7K could lead to:
First support: *\$107,957**
Next: *\$102,453**
---
## ๐ฎ Whatโs Next for Bitcoin?
### ๐ Scenario A โ Relief Rally (Less Likely)
If BTC reclaims \$115.5K with strong volume, we could see a bounce toward \$117.8Kโ\$118.9K.
Trigger: RSI bullish divergence, positive macro news.
### โ Scenario B โ Further Breakdown (More Likely)
If \$112.7K fails to hold, expect deeper pullbacks toward:
* \$110K
* \$107K
* \$102K
Trigger: Whale selling, lack of volume, or worsening market sentiment.
---
## ๐ง Pro Traderโs Strategy
*Scalpers:** Look for reactions near \$113.7K for short-term entries
*Swing Traders:** Avoid long positions unless \$115.5K becomes support again
*Spot Buyers (DCA):** Target accumulation near \$107Kโ\$102K
*Leverage Users:** Use strict stop-losses โ extreme volatility ahead
---
## ๐ฅ Final Thoughts
Bitcoin has entered a short-term bearish phase within what may still be a larger bull cycle. However, the next 24โ48 hours are critical. If BTC loses its footing at \$112.7K, the road to \$107K and possibly \$102K is wide open.
Avoid FOMO. Avoid panic. Trade smart.
---
## ๐ Key Technical Levels to Watch
Resistance:
* \$113.7K
* \$115.5K
* \$118.9K
Support:
* \$112.7K
* \$110K
* \$107K
* \$102K
---
#BTC่ตฐๅฟๅๆ #Binance #bitcoin #CryptoMarkets #TechnicalAnalysis
