Bitcoin News Today: Bitcoin Consolidates Near $117K as Volatility Looms

Bitcoin’s price action on Aug. 8, 2025, showed signs of consolidation amid a narrow trading range, sparking speculation about an imminent volatility spike. The cryptocurrency was priced at $116,779, with a market capitalization of $2.32 trillion and a 24-hour trading volume of $38.10 billion. The intraday range remained constrained between $116,112 and $117,596, signaling a period of consolidation following recent price fluctuations [1].

On the daily chart, Bitcoin rebounded sharply from the $112,000 level after correcting from its $123,236 peak. This correction followed a previous rally from the $107,300 zone. The current sideways movement suggests a consolidation phase, with volume momentum lower than during the initial bounce. The bias remains neutral-to-bullish as long as the $114,000 support level holds. However, a decisive move above $120,000 could reassert bullish dominance. Conversely, a breakdown below $114,000 may trigger further downside toward key support levels [1].

The 4-hour chart displayed a steady climb from $111,919 to $117,675, with intermittent pullbacks that have not disrupted the broader uptrend. Price is currently consolidating near recent highs, with no significant selling pressure evident despite reduced volume. Key support remains in the $116,000–$116,500 range. A break below this level could lead to a decline toward $114,500 [1].

On the 1-hour chart, Bitcoin exhibited a micro-uptrend from $114,280 to $117,675, followed by tight sideways trading as traders await a clear catalyst. The declining volume suggests a potential volatility spike may be approaching. A breakout above $117,800 could push the price toward $118,500 or higher, while a breakdown below $116,500 might accelerate a slide toward $115,000. The short-term indecision mirrors the broader consolidation observed on higher time frames [1].

Oscillators such as the RSI, stochastic, CCI, ADX, and the awesome oscillator all registered neutral readings. However, the momentum at −1,067 and the MACD level at 340 showed bearish signals. This mixed technical environment suggests market participants are cautious despite Bitcoin remaining near the top of its recent consolidation range [1].

Moving averages (MAs) showed a mostly bullish posture. The EMA for 10, 20, 30, 50, 100, and 200 periods, as well as the SMA for 10, 20, 50, 100, and 200 periods, all remained bullish, except for the 30-period SMA, which had turned bearish. This alignment supports the view that Bitcoin's longer-term trend is intact, with near-term weakness potentially offering accumulation opportunities if key supports hold [1].

A bullish scenario would require Bitcoin to maintain support above $114,000–$115,000 and break decisively above $118,000 with rising volume. This would open the path toward $120,000 and potentially higher, supported by strong alignment in most moving averages underpinning a continuation of the bullish trend [1].

Conversely, a bearish outcome would occur if the price breaks below $116,000, particularly under $114,000, shifting the short-term bias to bearish. A breakdown could lead to a retracement toward $112,000 or lower. Mixed oscillator readings, weakening momentum, and bearish MACD signals indicate that bulls may lose control if key supports fail [1].

Source: [1] Bitcoin Price Watch: Tight Trading Zone Suggests Volatility Spike Incoming (https://api.news.bitcoin.com/wp-json/bcn/v1/post?slug=bitcoin-price-watch-tight-trading-zone-suggests-volatility-spike-incoming)