Bitcoin and major cryptocurrencies suffered steep declines amid mounting global instability and disappointing U.S. economic indicators. Bitcoin dropped 5.6% to $113,411 over the past week, while Ethereum and XRP recorded heavier losses of 10.5% and 10.2%, respectively.
The downturn was fueled by escalating geopolitical tensions and a weak U.S. jobs report, triggering $905 million in cryptocurrency liquidations. Long positions accounted for the majority of these forced closures, reflecting heightened market vulnerability.
Analysts forecast continued volatility through August and September, with Bitcoin potentially testing the $80,000 support level. Despite bearish projections, predictive models suggest a 53% probability of Bitcoin recovering to a new peak of $125,000—outweighing short-term downside risks to $105,000.
Recent U.S. tariff policies, military conflicts, and regulatory uncertainties have amplified market turbulence. While near-term weakness is expected, analysts anticipate a potential recovery phase emerging later this year.