Bitcoin News Today: Bitcoin Struggles Below $115,000 as Bearish Signals Intensify

Bitcoin's price has shown signs of bearish pressure as it remains below key resistance levels, raising concerns about a potential further decline in the short term. On August 4, 2025, BTC was trading at $114,690, having previously broken below the $115,724 level, which is now acting as a resistance point [2]. This comes as the cryptocurrency remains below the $115,000 psychological and technical threshold, a level it has struggled to reclaim over the past week [3].

The price action has reflected a fragile market sentiment, with the 100-hourly simple moving average and the 50% Fibonacci retracement level from the recent downward move providing resistance. On the hourly chart of the BTC/USD pair, a bearish trend line is forming with resistance at $114,400 [1]. Additionally, the RSI for BTC/USD is below the 50 level, and the MACD is gaining pace in the bearish zone, suggesting a lack of upward momentum.

Analysts have noted that if Bitcoin fails to break above the $115,000 resistance zone, it could face another decline, with immediate support near the $113,200 level and the next key support at $112,500. A breakdown below $112,000 could send the price toward $110,500 in the near term, with further downside risk if the $108,500 level is breached [3].

On the upside, a close above $115,500 could trigger a test of the $116,500 level and potentially move toward $118,000, with a long-term target at $120,000. However, this scenario remains conditional on the price maintaining a strong enough close above these levels.

A well-known crypto analyst has suggested that Bitcoin may face further declines before a potential rebound [9]. Meanwhile, bullish forecasts such as those from analyst CryptoCon suggest a rise to $166,000 based on a Fibonacci retracement model, though these remain speculative and should be treated as potential scenarios [6].

Bitcoin’s movement is also being influenced by broader market factors, including rising spot ETF outflows and shifting institutional risk appetite. These have contributed to increased volatility and selling pressure, particularly in the derivatives market [3]. Analysts are also watching for signs of a potential “perfect bottom” and a rebound toward $148,000, but the immediate path remains uncertain [7].

Technical indicators remain mixed, with a bearish engulfing candlestick pattern near key resistance levels suggesting further downward momentum [8]. However, if Bitcoin manages to stabilize above $112,000, it could test the next level of resistance at $115,000, depending on broader market conditions.

As traders monitor the evolving situation, the focus remains on whether Bitcoin can hold key support levels or if it will continue under downward pressure. With conflicting signals from both technical and fundamental analyses, the market is closely watching for signs of a potential trend reversal or a continuation of the bearish phase in the days ahead.

Source:

[1] Bitcoin Price Wobbles Below Resistance – Could a Fresh Drop Follow? – https://www.newsbtc.com/analysis/btc/bitcoin-price-wobbles-120k/

[2] Concerns of a Reversal or Just a Pause in the Bull Cycle? – https://www.binance.com/en/square/post/27866436331690

[3] Bitcoin price faces risk-off sentiment as Ethereum ETFs hit ... – https://www.fxstreet.com/cryptocurrencies/news/crypto-today-xrp-holds-key-support-bitcoin-ethereum-hit-by-rising-spot-etf-outflows-202508051241

[6] Cryptocurrency Live News & Updates : Bitcoin Could ... – https://m.economictimes.com/crypto-news-today-live-04-aug-2025/liveblog/123081462.cms

[7] Bitcoin Rebounds: Is $150K the Next Target? – https://www.bitrue.com/blog/bitcoin-rebounds-is-150k-the-next-target

[8] Latest BTCUnbound News, Opinions and Feed Today – https://www.binance.com/en/square/hashtag/BTCUnbound

[9] Bitcoin: News & Updates - Page 62 of 75 - CryptoDnes EN – https://cryptodnes.bg/en/tag/bitcoin/page/62/