Bitcoin (BTC) Analysis - August 8, 2025:
Current Price: $116,551 (+1.01% daily, -3.7% weekly).
Technical Analysis:
Support: $110,500, $108,000.
Resistance: $118,000, $120,000.
RSI indicates short-term oversold conditions, potential for a rebound.
Ascending channel, may target $125,000 if it breaks $118,000.
Fundamental Analysis:
Scarcity of supply (19.9M/21M coins) supports demand.
Strong ETF inflows (+$1.2 billion daily).
Whale influence and trade tensions cause volatility.
Sentiment: Mixed, institutional optimism with caution due to regulations.
Forecast: Potential rise to $120,000 if it surpasses resistance, or correction to $108,000 if it breaks support.