Bitcoin Drops to New Lows, Sparking Waves of Market Volatility

Key Points

1. Bitcoin (BTC) dropped from its historic peak of $123,000 in mid-July to around $113,000, marking its lowest level in three weeks.

2. Analyst Ali Martinez notes a deepening sell-off, exacerbated by the liquidation of leveraged positions worth $983 million, with a critical support zone between $105,000 and $107,000.

3. Bitcoin's price struggled to stay within the $117,000 to $120,000 range since July 31, eventually falling to $112,000 on August 2.

4. Miners contributed to selling pressure by offloading 3,000 BTC within two weeks, aligning with liquidity exits visible on the blockchain.

5. Experts anticipate further volatility with the opening of US and European markets on August 4, with potential market-moving announcements from US President Donald Trump.