Bitcoin Faces Possible Rebound Toward New Highs Amid Consolidation and Institutional Buying
Main Idea
Bitcoin shows potential for a rebound toward new highs amid consolidation, with strong institutional support and key altcoins maintaining critical support levels.
Key Points
1. Bitcoin briefly fell below $115,000 but found strong buying support, suggesting a potential rally toward new all-time highs above $123,000.
2. Institutional interest in Bitcoin remains strong, with Bitcoin Treasury Companies accumulating over 791,662 BTC worth approximately $93 billion.
3. Ether saw $5.43 billion in net inflows into US spot ETH ETFs in July, reflecting growing institutional confidence, with key support at the 20-day SMA ($3,590).
4. Altcoins like XRP, BNB, and Solana are holding critical support levels, which could enable upward momentum if maintained.
5. Key support levels for Bitcoin and altcoins in August 2025 include $115,000 for BTC, $3,590 for ETH, and $2.95 for XRP.
Description
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