According to analysts, as Bitcoin fell 5% over the weekend, Bitcoin may need more than $110,000 in support levels to retest its all-time high.
Bitcoin fell from $118,330 on Friday, Fall to $112,300 On Sunday, Bitcoin’s bearishness began a bad month in history.
“It depends heavily on how risk sentiment merges with the horrible work report on Friday and new tariff developments,” IG market analyst Tony Sycamore told Cointelegraph on Monday.
He said the weekend’s high all-time pullback was tested and retained support for a former record high of $112,000, “which is also a reasonable pullback target.”
“If risk sentiment stabilizes and Bitcoin is still above $112,000/$110,000 support, it can retest record heights. But here, with monthly resistance above $125,000, I can’t see that the catalyst can now break.”
Still, if the risk appetite will lower the other leg during August, and Bitcoin will see a persistent The crack of supportHe added that the correction could extend to the 200-day moving average at $99,355.
Sycamore’s forecast echoes similar forecasts from Arthur Hayes on Sunday warn Macroeconomic pressure could drag bitcoin back to $100,000.
August is the bear moon of Bitcoin
Since 2013, Bitcoin (BTC) Prices usually drop monthly in August, according to To the glass festival.
In 2024, assets fell to 8.6% in decline, slightly above $59,000. This was a small loss compared to 2023 and 2022, when it lost double digits in August, falling to $27,300 and $19,800, respectively.
The average loss in August was 11.4%, so if the historical rhyme and BTC dropped similar amounts this month, it could drop to around $105,000.
Nevertheless, the chart shows exceptions to this rule in bull years.
People in September are just as bad
The last earnings in August were in the 2021 bull market, when BTC ended 13.8% at a price of more than $47,000. After the four-year market cycle, 2025 is still the hope of a bull market.
Related: Bitcoin ends record month at $115K, August BTC price setting
The prospect is Not good for September This is because 8 of the past 12 September have seen losses.
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