Bitcoin Briefly Dips to $114.5K as Tariff Fears and Profit-Taking Hit Markets
Main Idea
Bitcoin experienced a price dip due to profit-taking and tariff fears, but remains range-bound with potential for future highs.
Key Points
1. Bitcoin's price briefly dropped below $114,500, a 2.56% decline in 24 hours, after hitting a record high of over $123,000 on July 14.
2. CryptoQuant reported Bitcoin's third major profit-taking spike of the bull run, with realized profits reaching $6–8B in late July, led by new whales selling above $120K.
3. Renewed White House tariffs on Asian markets contributed to the price decline, but Bitcoin remains range-bound, indicating stability at current levels.
4. James Toledano, COO at Unity Wallet, suggested that Bitcoin could reach a new all-time high if it breaks past the next resistance level.
Description
Bitcoin has slipped by 2.56% in the past 24 hours, driving the price down below $114,500 briefly in the early Asia trading hours on Friday. The world’s largest crypto is trading at $115.7K at the time of writing, per CoinMarketCap . Bitcoin, after hitting a record high of over $123,000 on July 14, has plunged lower, and is now awaiting a macro catalyst. Renewed White House tariffs on Asian markets have further pulled the price. However, Bitcoin remains range-bound. Stability at this level sugges...
Latest News
- Crypto Price Prediction Today 1 August – XRP, Solana, Cardano2025-08-01 22:46:13
- Perplexity AI Predicts the Price of XRP, Shiba Inu and Pepe by the End of 20252025-08-01 22:45:42
- Why The GENIUS Act May Benefit RWA Tokenization Companies The Most2025-08-01 20:19:48
- XRP Price Prediction: Double Bottom Pattern Opens Door for Bull Market – Is This the Setup for a New All-Time High?2025-08-01 19:27:24
- Weekly Crypto Regulation Roundup: SEC Advances ETF Reform, White House Unveils Crypto Roadmap2025-08-01 19:12:02