Bitcoin News
By MikeT
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Bitcoin Starts August in the Red. According to analysts, Bitcoin is currently at a critical level.
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Macroeconomic Pressures Mount. The broader market sentiment is shaky following a weak U.S. jobs report and rising trade tensions.
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August: A Historically Bearish Month for Bitcoin. Data from Glassnode shows that since 2013, Bitcoin has posted negative returns in August in eight…
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What’s Next for Bitcoin?. Despite the bearish tone, some analysts remain cautiously optimistic.
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Key Levels to Watch
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Bitcoin is off to a rocky start this August, falling nearly 5% over the weekend as it dipped from $118,330 on Friday to around $112,300 by Sunday.
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According to analysts, Bitcoin is currently at a critical level. The price drop tested support near $112,000—its previous all-time high—and held it, but there's little room for…
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He said, “The recent pullback was logical, returning to the previous record high of $112,000, which acted as a support zone.
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However, breaking past the $125,000 resistance will be difficult without a strong market catalyst.
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The broader market sentiment is shaky following a weak U.S. jobs report and rising trade tensions. These macroeconomic factors are affecting risk assets, including Bitcoin.
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Arthur Hayes, former CEO of BitMEX, echoed similar concerns. In his latest market outlook, he warned that macro headwinds could push Bitcoin back down to $100,000.
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Data from Glassnode shows that since 2013, Bitcoin has posted negative returns in August in eight out of 12 years. The average decline during this month has been 11.4%.
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If 2025 follows this pattern, Bitcoin could potentially fall to around $105,000 before any recovery is possible.
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Despite the bearish tone, some analysts remain cautiously optimistic. The last time Bitcoin had a positive August was during the 2021 bull market when it gained nearly 14%,…
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For now, the next few weeks will be critical. Holding the $110,000 support zone could provide the base for a potential rebound.
The Currency Analytics
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