Bitcoin News Today: Bitcoin Slides 2.07% Below $113,000 Amid Weak Jobs Data and Tariff Fears

Bitcoin's price slid below $113,000 on August 1, 2025, marking a 2.07% daily drop and triggering widespread market turbulence [1]. The decline led to nearly $1 billion in liquidations across crypto exchanges, with leveraged positions facing significant pressure. Altcoins, including Ethereum (ETH), followed suit, with some assets falling up to 6%, highlighting the high degree of correlation among digital assets [1]. The pullback came after Bitcoin reached a peak of $122,979.87, raising concerns about liquidity and short-term market sentiment.

The selloff coincided with weak U.S. nonfarm payroll data, which reported a lower-than-expected 73,000 jobs added in July, stoking bearish sentiment despite expectations of a Federal Reserve rate cut [3]. This economic data fueled uncertainty about a potential recession, amplifying risk-off behavior among investors and contributing to Bitcoin’s further decline to around $113,800 [3]. Additionally, rising U.S. tariffs heightened fears of an aggressive trade environment and broader economic slowdown, breaking a 16-day period of relative stability [4]. The breakdown below the $116,000 support level sparked concerns of a potential gap fill and increased volatility.

Amid the sell-off, some analysts have issued bearish forecasts. One expert warned that Bitcoin could potentially drop by 50%, reaching as low as £47,000 if current trends persist [5]. While such projections are speculative, they reflect the growing sensitivity of the market to macroeconomic and geopolitical shifts.

Despite the sharp correction, order books have shown signs of accumulation at lower levels, suggesting that buyers may be stepping in to absorb the dip [3]. The price has since stabilized near $114,000, with the $116,000 level under close watch as a potential resistance zone. However, the overall momentum remains fragile, with no clear leadership comments from major industry figures such as Arthur Hayes, CZ, or Raoul Pal [1].

The broader market remains in a state of uncertainty, awaiting signals from the Federal Reserve and potential regulatory developments. While the current selloff has cast doubt on the sustainability of the recent bullish trend, many participants view it as a short-term correction rather than a long-term bearish shift. A definitive catalyst—such as regulatory clarity or renewed institutional demand—could spark a recovery.

Market participants are closely monitoring further developments, particularly in light of ongoing macroeconomic volatility and geopolitical risks. For now, Bitcoin continues to face a test of its resilience, with the path forward marked by high uncertainty and fluctuating investor sentiment.

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Source:

[1] Bitcoin News Today: Bitcoin Falls Below $113000 Amid ... (https://www.ainvest.com/news/bitcoin-news-today-bitcoin-falls-113-000-macro-pressures-whale-sales-2508/)

[2] Bitcoin Price Drops Amid Tariff Tensions and Fed Silence (https://www.xt.com/ar/blog/post/bitcoin-price-drops-amid-tariff-tensions-and-fed-silence)

[3] Bitcoin Dumps On Weak U.S. Jobs Data, Fed Rate Cut ... (https://bravenewcoin.com/insights/bitcoin-dumps-on-weak-u-s-jobs-data-fed-rate-cut-odds-surge-past-75)

[4] Bitcoin breaks below $117000 support amid key gap fill risk (https://www.ainvest.com/news/bitcoin-news-today-bitcoin-breaks-117-000-support-key-gap-fill-risk-2508/)

[5] Expert warns Bitcoin could plummet to £47000 as ETF ... (https://www.ibtimes.co.uk/expert-warns-bitcoin-could-plummet-47000-etf-inflows-wane-market-volatility-rises-1740009)