Bitcoin News Today: Bitcoin Bounces Off Key Support as Analysts Flag Upcoming Bullish Phase

Bitcoin’s recent price correction has drawn the attention of multiple analysts, many of whom see the move as a necessary step toward a more powerful bullish resurgence. Analyst Min Tae-yoon argues that the drop to $112,000 should not be viewed as a market failure but rather as a recalibration within a well-documented cycle known as the “Triple Power” pattern [1]. According to Tae-yoon, this cycle includes three distinct phases—early accumulation, deceptive dips, and a final distribution wave. He believes Bitcoin has already progressed through the first two and is now on the cusp of the final stage [1].

The recent pullback may have triggered a wave of retail liquidations, with over $922 million wiped out in the process. However, Tae-yoon notes that deeper liquidity zones between $115,300 and $119,500 have held firm, suggesting that institutional and more sophisticated market participants remain in the game. If Bitcoin can stay above these levels, it may be able to build rapid upward momentum [1].

Another analyst, Michaël van de Poppe, supports this view by identifying the $110K–$112K zone as a key support and accumulation area. He points out that a successful test of the $116,800 resistance level could be the catalyst for a move toward $119.5K [2]. Van de Poppe’s analysis aligns with Tae-yoon’s in that both emphasize the importance of these price levels as psychological and structural milestones.

Market sentiment is also shifting, with Bitcoin’s Fear & Greed Index dropping to a neutral reading of around 50 after hitting “Extreme Greed” earlier. This suggests that the speculative frenzy that had driven prices higher is cooling, which could be a positive sign for a more sustainable rally. Analysts like Ali Martinez argue that historically, the best entry points for long-term investors occur during periods of extreme fear, making the current environment potentially favorable [3].

From a technical standpoint, Bitcoin is currently retesting a significant trendline that has been in place since 2017. A successful hold above $114,000 could confirm the bullish breakout and signal a path toward $120,000 and beyond [4]. Conversely, a sustained breakdown below this level could invite further corrections and delay the anticipated rally.

Arthur Hayes, another prominent voice in the crypto space, cautions that while the market is showing resilience near the $112K level, a deeper correction to $100,000 remains a possibility based on his technical analysis [5]. This highlights the ongoing volatility in the market and the presence of both bullish and bearish forces.

Looking more broadly, Bitcoin is seen as a potential beneficiary of a rapidly expanding global liquidity environment. With global liquidity hitting $127 trillion, analysts suggest that Bitcoin—historically sensitive to liquidity trends—could experience significant upside if institutional trust in traditional financial systems continues to erode [6]. This aligns with the current narrative that Bitcoin is building toward a major rally in the second half of 2025.

Sources:

[1] title: Bitcoin Correction Sets the Stage for Explosive Breakout ...

url: https://coindoo.com/bitcoin-correction-sets-the-stage-for-explosive-breakout-says-analyst/

[2] title: Bitcoin Price Analysis Today: Key Test at $116.8K Resistance

url: https://coinedition.com/bitcoin-price-analysis-support-resistance-august-2025/

[3] title: How Low Can Bitcoin Go? Arthur Hayes' BTC Price ...

url: https://www.financemagnates.com/trending/how-low-can-bitcoin-go-arthur-hayes-btc-price-prediction-suggests-the-crypto-may-go-down-and-hit-100k/

[4] title: This Crypto Could 500x in 2025 as BlockchainFX ($BFX) ...

url: https://coincentral.com/this-crypto-could-500x-in-2025-as-blockchainfx-bfx-secures-5-cex-listings-and-hexy-hyper-gain-buzz/

[5] title: Bitcoin Price Prediction: Global Liquidity Hits $127 Trillion

url: https://cryptonews.com/news/bitcoin-price-prediction-global-liquidity-hits-127-trillion-could-bitcoin-flip-the-entire-financial-system/

[6] title: 7 Top Coins to Watch This Week - Next Cryptos to Explode

url: https://en.cryptonomist.ch/2025/08/05/7-top-coins-to-watch-this-week-next-cryptos-to-explode/