Bitcoin News Today: Bitcoin Faces Bearish Breakdown as Gordon Warns of Ongoing Crash 6% Down from July High

Bitcoin is facing renewed downward pressure, with prominent analyst Gordon warning that a significant bearish reversal is now underway. In a recent post on X, Gordon asserted that “BTC crash has just started. It’s over for bulls,” accompanied by a technical chart that illustrates a classic Head and Shoulders breakdown pattern [1]. The formation, identified by Gordon, includes a left shoulder formed in February, a peak in April, and a right shoulder in June. The critical neckline at around $112,000 was decisively broken in late July, confirming the bearish structure [1].

Following a failed retest of this key level, Bitcoin has continued to decline, reinforcing the technical breakdown. As of the latest report, the cryptocurrency is trading at approximately $114,700, having dropped over 6% from its July high of $122,838. In the past 24 hours, BTC is down roughly 3.2%, highlighting the rapid erosion of bullish momentum [1]. The $112,000 zone, now acting as resistance, has proven too strong for buyers to reclaim, further supporting the bearish outlook.

Gordon forecasts that the current trend may continue, with potential price targets below $100,000. A daily close below $114,000 could exacerbate selling pressure, as traders respond to the confirmed breakdown of the Head and Shoulders pattern [1]. This technical development aligns with broader macroeconomic concerns that are amplifying bearish sentiment across the market.

Recent U.S. tariff policies under President Donald Trump have created uncertainty, prompting a risk-off environment that has hurt volatile assets like Bitcoin [1]. Barron’s reported that the renewed trade tensions are encouraging investors to shift capital away from speculative markets. Meanwhile, fading hopes of a near-term Federal Reserve interest rate cut have also reduced institutional interest, leading to tighter liquidity in the crypto space [1].

While some long-term investors remain optimistic, pointing to declining exchange balances and whale accumulation as signs of strength, these factors have yet to reverse the current bearish momentum. Analysts note deteriorating trading volume, weakening price momentum, and unfavorable cycle timing as further indicators that Bitcoin could continue to retrace. Some even warn of a possible drop to $85,000 if key support levels around $102,000 fail [1].

Unless Bitcoin can reclaim the $116,000–$118,000 range in the short term, the downward trajectory is likely to persist. Gordon’s analysis, rooted in technical patterns and macroeconomic factors, underscores the growing consensus that the bullish phase has ended. The charts are now clearly signaling a bearish bias, challenging those who still hold out hope for a near-term rebound.

Source: [1]Analyst Says Bitcoin Crash Has Just Started, It’s Over for Bulls. Here’s why (https://timestabloid.com/analyst-says-bitcoin-crash-has-just-started-its-over-for-bulls-heres-why/)