As BTC bounces from three-week lows, analysts highlight key resistance levels and ongoing demand dynamics amid potential Federal Reserve rate cuts.
Bitcoin starts August with a price bounce after hitting three-week lows, currently facing mixed targets as volatility is expected to rise. The market's fundamental environment has shifted from Bitcoin's previous all-time highs, with a mass sell-off by holders and whales noted. Analysts identify $116,500 as a significant price level, while demand for Bitcoin remains strong, indicating potential for future growth despite recent price corrections.