The Bitcoin price (BTC) is experiencing a downtrend, indicating a deteriorating market situation and pressure from bears.
Current Bitcoin Price Trend
As of August 2, 2025, the price of Bitcoin stands at $112,518, down from the $120,000 resistance level. BTC has broken below the $116,000 support level, signaling growing selling pressure. The next significant support is around the $110,000 mark, which will be crucial for bulls to defend in the short term.
Analyst Predictions
Cryptocurrency analyst Javon Marks has pointed to a key technical development in Bitcoin's recent price action. He noted a successful retest of a previously broken resistance level, which may signal a buildup of bullish momentum. The chart shows a pattern resembling an inverse head and shoulders formation, often interpreted as a bullish reversal signal. Marks pointed to a potential target above $135,000, emphasizing that this is a conservative projection.
Support and Resistance Levels
Bitcoin has revealed a significant support area around $107,160, as reported by Ali Charts. This is one of the largest accumulation levels, with claims of over 111,000 BTC accumulated. Should a price drop occur, this level can be strongly defended by investors, creating a solid base for bullish positions. The resistance level of $117,400 has about 88,000 BTC in accumulation, which may pose a headwind for upward movement.
The Bitcoin market is showing mixed signals, with signs of bearish pressure on one hand and potential support areas and future bullish impulses on the other.
