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Bitcoin (BTC/USD) faced a sharp rejection recently, but despite heavy turbulence—including a $9 billion whale dump after a decade-long hold and Coinbase shares sliding over 30%—the market showed remarkable resilience. While BTC briefly lost a key support level, it’s now positioning for a potential breakout. Analysts are eyeing the previous all-time high near $112K as the next major target. Volatility is high, but so is anticipation. With talk of a looming short squeeze and growing institutional interest, the next leg up could be explosive. #BTCUnbound $BTC

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Bitcoin’s recent price action is affecting the altcoin market

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Bitcoin’s price action, depicting its rise above $68K and the pullback from peak levels in recent quarters. --- 📈 Price Snapshot Current Price: Approximately $113,400 USD, reflecting a slight pullback of around –0.7% over the past 24 hours . 24‑Hour Trading Volume: In the vicinity of $60–61 billion USD, indicating robust market activity . Market Cap: Around $2.26 trillion USD, with nearly 19.9 million BTC in circulation . --- 🔍 What’s Driving the Market Momentum Pause: Bitcoin recently surpassed $114K but then briefly lost the $115K support level, causing some technical tightening and amplified skepticism among short-term traders . Institutional Holding: Despite price dip, net outflows on centralized exchanges suggest strong off-exchange accumulation—signaling sustained institutional demand . Macro Influence: Renewed prospects of a Federal Reserve rate cut in September—spurred by softer employment data—have buoyed sentiment for risk assets like crypto . --- 🔮 Looking Ahead: Key Forecasts Intra-month Range: Analysts anticipate BTC trading between $109K and $115K during August, with potential upside if market conditions stabilize . Bullish Scenario: Some models suggest a breakout to $120K–$135K later this month if momentum resumes, though broader market caution lingers . Long-Term Outlook: Elliott wave analysis points to a possible peak around $140K in 2025, with heightened volatility and potential retracement anticipated in 2026 . --- 🗒️ Key Levels & Strategy Highlights Support Level Resistance Level Investor View ~$109K–110K ~$115K–120K Monitor support for signs of resilience ~$100K $120K–$135K (upside view) Watch for institutional entries at dips Several analysts, including Michaël van de Poppe, recommend viewing dip below $112K as potential buying opportunity—if support holds firm around key levels .

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XRP Wealth Gap Shocks the Crypto Community

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Nuclear tensions are rising. Major job revision data just dropped. Tariffs slapped on multiple countries. Yet, the altcoin market cap is holding strong above key support. Sellers look tapped out — this could be the prime opportunity to start bidding. HODL tight. Q4 could change everything. $BTC $ETH $XRP

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