Bitcoin has dipped to approximately $113,400–$113,600, marking a –1.7% change over the past 24 hours. After a record-breaking rally in July—where BTC touched $123,000—the price has cooled off entering August, primarily due to macroeconomic concerns and notable ETF outflows.
In this article, we will look at btc next target and latest bitcoin news.
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Bitcoin Next Target
- Price: ~$113,500
- 24h Change: –1.7%
- 24h Range: ~$112,800 – $115,700
- Market Cap: ~$2.26 trillion
- 24h Trading Volume: ~$40–45 billion
- Circulating Supply: ~19.9 million BTC (Max supply: 21 million)
Bullish breakout from Sideways Channel ($100K – $112K), above the $112K resistance, signals resumption of Uptrend. Price is making new ATHs. In this price discovery phase, we used Fibonacci extensions to identify possible price targets (resistance levels): $121K, $128K, $136K.
Technical Indicators
- Momentum: Indicators like RSI and MACD show weakening bullish momentum; the market is entering a neutral zone.
- Support Levels: ~$113,000 (critical short-term support), then $112,000
- Resistance Levels: $118,500 – $120,000 remains the next upside hurdle
- Trend: Still within a broader uptrend but showing signs of short-term consolidation.
Market Highlights
- Tariff & Macro Tensions: Geopolitical and trade-related worries have led to broader market selloffs, contributing to Bitcoin’s slight retreat.
- ETF Outflows: U.S.-listed Bitcoin ETFs saw a record net outflow of approximately $812 million on August 1. Key funds like Fidelity’s and ARK’s products were the largest contributors.
- Profit Booking: July’s massive gains triggered strategic profit-taking by both retail and institutional investors.
- Institutional Sentiment: Despite the outflows, institutions still hold significant ETF exposure. Analysts suggest this is tactical rebalancing rather than a bearish reversal.
- July Recap: July saw over $12.8 billion in inflows into U.S. crypto ETFs, with Bitcoin alone accounting for around $1.18 billion of that figure.
- Strategic Reserve: The U.S. government continues to maintain a strategic reserve of over 200,000 BTC.
Forecast Summary
- Bullish Case
A reclaim of $115K+ could restore bullish momentum. If buyers return, BTC may aim for $118K–$120K. - Bearish Case:
A breakdown below $112K may lead to further correction toward the $108K–$110K range.
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