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Bitcoin Price has corrected to around $114K after touching an all-time high of $123K.
Global tariffs and market volatility are driving short-term selling pressure in the cryptocurrency market.
Bitcoin ETFs and institutional adoption continue to support Bitcoin’s long-term bullish outlook.
Bitcoin, the world’s largest cryptocurrency by market value, is witnessing a period of high volatility as August 2025 begins. After touching an all-time high of nearly $123,000 in mid-July, the Bitcoin price has recently corrected to about $114,417.
This marks a drop of almost 3.5% in the past 24 hours, reflecting the pressure from global market conditions and investor profit booking. Despite the correction, the long-term trend remains positive, supported by increasing institutional adoption and regulatory clarity in key markets.
As of the first week of August 2025, the cryptocurrency is trading in the range of $114,000 to $115,000. During the last 24 hours, the cryptocurrency touched an intraday high of approximately $118,710 and a low of $114,413. This movement highlights the strong volatility that continues to define the crypto market.
The decline in Bitcoin price comes after a strong rally throughout the first half of 2025. Many traders are taking profits after the recent surge to $123,000, which is a common market behavior when new highs are reached. Other major cryptocurrencies, including Ethereum, Solana, and Dogecoin, are also facing selling pressure, with some coins dropping more than 8% in the same period. The entire crypto market appears to be undergoing a short-term correction, although the longer-term outlook remains favorable.
From a technical perspective, Bitcoin price today is currently experiencing a short-term bearish phase while maintaining a long-term bullish structure. The cryptocurrency is trading below its 7-day and 25-day Exponential Moving Averages (EMA), which suggests that selling momentum has increased in the short term. However, it continues to remain above the 99-day EMA, which is a sign that the overall uptrend has not yet been broken.
The Relative Strength Index (RSI) is hovering around 32, which is very close to the oversold region. This indicates that the recent sell-off may soon stabilize, and a short-term bounce is possible if buyers regain confidence. Important price support levels currently lie near $110,000, while the next strong resistance levels are around $118,500 and $123,000. A recovery toward the previous all-time high would require a breakout above these resistance zones, while a drop below $110,000 could trigger a deeper correction.
Also Read: How Rare is Owning Bitcoin in 2025? Less Than 1% Have it
The recent correction in the cryptocurrency’s price is closely linked to broader economic developments. Global equity markets have faced pressure following the announcement of new US tariffs, which has created uncertainty for investors. When traditional markets experience stress, many investors reduce their exposure to high-risk assets like cryptocurrencies, leading to price drops in Bitcoin.
Additionally, upcoming US non-farm payroll data is adding to market caution. If the job data shows a stronger economy, there could be expectations of tighter monetary policies by the Federal Reserve. Historically, strict monetary conditions tend to reduce risk appetite for volatile assets, and this often causes temporary declines in the prime crypto market candidate and other cryptocurrencies.
Despite the recent dip, institutional interest in cryptocurrency remains a major strength for its long-term growth. The US Strategic Bitcoin Reserve, which holds roughly 200,000 BTC, has been a significant development. This government-backed reserve adds a layer of credibility to the crypto-coin as a strategic asset. Several US states, including Texas and Arizona, have also created their own Bitcoin reserves, which enhances their legitimacy in traditional finance.
Institutional investors and large crypto holders, often referred to as “whales,” have been using price dips to accumulate more Bitcoin. Their consistent buying signals confidence in the long-term potential of the cryptocurrency, even during periods of short-term weakness.
The regulatory environment for cryptocurrencies has become more favorable in 2025, especially in the United States. Bipartisan bills such as the Clarity Act and the GENIUS Act have provided better guidelines for classifying crypto assets and regulating stablecoins. This has reduced the uncertainty that often discouraged traditional investors from entering the market.
One of the most significant outcomes of regulatory clarity has been the success of cryptocurrency’s Exchange-Traded Funds (ETFs). Spot Bitcoin ETFs have attracted billions of dollars in inflows, bridging the gap between traditional finance and the crypto world. Analysts note that ETF demand alone has accounted for a large portion of the crypto-coin’s price growth in 2025, proving that regulated financial products are playing a key role in its adoption.
Market sentiment and Bitcoin price news are cautious but generally optimistic. On the bullish side, analysts believe that if the token can hold above the $110,000 support, it has the potential to retest $120,000 to $125,000 in the coming weeks. Some even project that by the end of August 2025, the main crypto market player could approach $130,000–$133,000 if buying momentum returns.
Long-term forecasts, supported by historical halving cycles, point toward the possibility of $150,000 by late 2025 or early 2026, provided that global conditions remain stable.
On the other hand, bearish analysts warn that a decisive break below $110,000 could lead to a deeper correction, possibly bringing the price down to $100,000 or even $90,000. In the most extreme bearish scenario, a 50% retracement to around $60,000 could occur, but this would likely require a significant economic or regulatory shock.
In the short-term Bitcoin price prediction, the cryptocurrency is navigating a correction phase with immediate resistance around $118,500 and $123,000. A sustained move above these levels could signal a return to bullish momentum. The RSI nearing oversold levels also suggests that the market might be preparing for a short-term recovery.
In the long term, the outlook remains highly positive. The 2024 halving event historically sets the stage for major price rallies that last 12 to 18 months. Institutional adoption, ETF inflows, and government reserves are all creating a strong foundation for continued growth. Historical market patterns indicate that the cryptocurrency could reach new cycle highs later in 2025 or early 2026, potentially crossing $150,000 to $200,000 if current trends persist.
Also Read: Trump Media Unveils $300 Million Bitcoin Options Strategy Amid Crypto Push
Bitcoin is currently in a phase of consolidation after a remarkable rally. Short-term volatility and profit booking are creating downward pressure, but the overall market structure remains bullish. Key levels to watch in the coming days are $110,000 as support and $118,500 as resistance. Holding above these levels could pave the way for a return to the $120,000–$125,000 zone, while a break below support may trigger a deeper correction.
Despite some uncertainty, the long-term prediction for Bitcoin remains strong, supported by institutional accumulation, regulatory clarity, and the growing role of the top crypto market player in both retail and traditional finance. The cryptocurrency continues to be shaped by global events, market psychology, and investment flows, and while short-term volatility is inevitable, the path toward higher valuations remains open.
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