Bitcoin Faces Potential Downturn Amid Global Unrest and Rising Liquidations, Analysts Suggest Possible Recovery Later
Main Idea
Bitcoin and major cryptocurrencies experienced significant declines due to global unrest and weak U.S. economic data, with analysts suggesting potential recovery later in the year despite ongoing volatility.
Key Points
1. Bitcoin fell 5.6% to $113,411, while Ethereum and XRP dropped 10.5% and 10.2% respectively over the past week.
2. Global geopolitical tensions and a weak U.S. jobs report triggered $905 million in crypto liquidations, mostly long positions.
3. Analysts predict further declines in August and September, with Bitcoin potentially reaching lows near $80,000 before a possible rebound in Q4 2024.
4. Despite the downturn, predictive models indicate a 53% probability that Bitcoin could rise to a new peak of $125,000 rather than fall to $105,000.
5. Geopolitical events, such as U.S. tariffs and military movements, along with regulatory uncertainties, have heightened market volatility.
Description
Are You Chasing New Coins? Catch the newest crypto opportunities. Be the first to buy, be the first to win! Click here to discover new altcoins! Bitcoin and major
Latest News
- DarkStar (DARK) Listing on Binance Alpha Could Enhance Early-Stage Crypto Access and Visibility2025-08-02 07:20:04
- Bitcoin ETFs Experience Significant Outflows Amid Market Shifts, While Ether ETF Inflows Pause2025-08-02 07:08:22
- Ethereum Set to Break $4,000 as Market Shifts Beyond Bitcoin, Predicts Wang Feng2025-08-02 06:42:52
- US Spot Bitcoin ETF Outflows Surge to $812 Million on August 1, Highlighting Potential Market Adjustments2025-08-02 06:41:48
- Binance Alpha Plans Cycle Network (CYC) Launch with Airdrops on August 4, Market Impact Unclear2025-08-02 06:29:27