Bitcoin’s recent price action has sparked intense debate among traders and analysts as the asset dropped below critical support levels in late July 2025, raising questions about the sustainability of its long-term bullish trend. The cryptocurrency fell from a high of approximately $117,700 to around $113,649, breaking below the key $115K–$116K support zone [3]. While this move has caused short-term alarm, many observers argue that the broader trend remains intact, with Bitcoin still trading above its 200-day simple moving average (SMA) and recording a significant year-to-date gain [1].
Technical indicators suggest a correction rather than a bearish reversal. The relative strength index (RSI) has rebounded to a neutral level, and the price is currently stabilizing near $113,000, with the 50-day SMA acting as a buffer at around $112,110 [1]. Analysts highlight that if Bitcoin can hold above $112,000, the next major support area around $111,350 could provide another buying opportunity. Deeper into the price structure, the $100,000 level — supported by the 200-day SMA — is seen as a critical area for accumulation, with many believing heavy buying could occur if the price reaches there [1]. In the event of a more severe downturn, some are watching the $75,000 level as a potential entry point for long-term holders [1].
While the market remains cautious, not all signals are bearish. Some analysts argue that the recent pullback is a natural part of a broader consolidation phase and not indicative of a broader market crash. For example, bulls would need to reclaim and hold above $116,000 to re-ignite a bullish trend, according to CoinCentral [2]. However, bearish sentiment has also gained traction, with Binance noting that bulls “fully retreated” in early August, suggesting further declines could be on the horizon [5].
The broader cryptocurrency market has followed Bitcoin’s lead, with Ethereum, XRP, and Binance Coin all experiencing declines. The downward movement has led to a surge in discussions around “buying the dip,” with some industry figures and platforms promoting strategic entry points for investors [4]. At the same time, speculative interest has shifted toward alternative cryptocurrencies, including meme coins and high-potential altcoins. While Bitcoin remains the market’s bellwether, some investors are exploring opportunities in projects like BlockDAG and Punisher Coin, which are being promoted with aggressive growth claims [7].
Despite the volatility, the core narrative around Bitcoin remains anchored in its long-term resilience. Unless the price breaks below $100,000, many analysts believe the current dip could represent one of the last major entry opportunities before the next upward phase. Institutional investors and long-term holders are closely watching the $111K and $100K areas, suggesting that the next few weeks will be crucial in determining the direction of the market [1].
—
Source: [1] https://coinmarketcap.com/community/articles/688fb3feb247d42126ad74c2/
[2] https://coincentral.com/bitcoin-price-prediction-can-btc-break-its-all-time-high-and-reach-140k-in-august/
[3] https://en.cryptonomist.ch/2025/08/03/crypto-market-is-down-best-meme-coins-to-buy-before-the-next-ethereum-surge/
[4] https://www.mitrade.com/au/insights/news/live-news/article-3-1008139-20250804
[5] https://www.binance.com/en/square/post/27767306057953
[7] https://coincentral.com/stellar-and-litecoin-lag-behind-but-punisher-coin-become-the-best-token-to-buy-now-with-30-bonus-and-100x-2025-potential/
