Bitcoin News Today: Bitcoin Plummets 0.98% as Bearish Indicators and Diverging MACD Signal Deepening Sell-Off

Bitcoin fell sharply to a seven-day low of $112,605.2 on August 2, 2025, after a sudden intraday decline of over $800 within minutes, signaling increasing bearish momentum in the market. The rapid drop occurred following three consecutive bearish candlesticks that undermined bullish pressure near the $113,400 resistance level. By the end of the session, Bitcoin was trading at $112,388.58, marking a 0.98% daily loss and a 1.59% pullback from its intraday high [1].

The price reversal coincided with a notable decline in trading volume, which fell by 34.04% to $60.4 billion, according to CoinMarketCap data. Despite the heightened price swings earlier in the day, the reduced volume suggests a lack of conviction among traders. Bitcoin’s total market capitalization remains at $2.23 trillion, with a fully diluted valuation of $2.36 trillion. The volume-to-market cap ratio of 2.75% reflects subdued trading activity relative to the asset’s market size [2].

Technical indicators have also turned bearish, supporting the downward trend. The Relative Strength Index (RSI) dropped to 40.23 from a recent high of 58.10, indicating a clear loss of upward momentum. The indicator remains above the oversold threshold but signals ongoing bearish pressure. Meanwhile, the Moving Average Convergence Divergence (MACD) line stands at -1,024.12, significantly diverging from the signal line at 695.13, with a spread of over 1,700 points reinforcing the bearish outlook [3].

Market participants are now closely monitoring the $112,000 support level, which could see a prolonged test if the current bearish trend continues. The declining volume and bearish technical indicators suggest traders are reevaluating their positions ahead of the weekend. In the past 24 hours, high-volume trading of $704.29 million was observed, potentially linked to the sudden price drop [1].

The circulating supply of Bitcoin remains at 19.9 million coins, with no significant shifts in fundamental metrics. The convergence of weak trading volume, bearish indicators, and sharp price reversal suggests a potential shift in market sentiment. Further consolidation appears likely in the near term as investors await clearer signals from the market [2].

Source:

[1] Bitcoin Slides To $112.3K As Indicators Turn Bearish And ... (https://blockchainreporter.net/bitcoin-slides-to-112-3k-as-indicators-turn-bearish-and-trading-volume-decreases/)

[2] Crypto Market Turns Red As Bitcoin And Altcoins Take A ... (https://blockchainreporter.net/crypto-market-turns-red-as-bitcoin-and-altcoins-take-a-blow/)

[3] TradingView (not publicly cited; derived from described data)