BiyaPay Analyst: Bitcoin Pullback Initiates August Market, Selling Pressure Unresolved, Direction Uncertain, Near-Term Facing Key Inflection Point
BlockBeats News, August 1st, according to BiyaPay analysts, at the beginning of August, the cryptocurrency market saw an initial pullback. BTC/USDT is currently priced at $115,547.97, with a 24-hour decline of -2.4%. In the short term, it is still fluctuating in the $114,000–$118,000 range, with the moving average system sticking together, and the market facing a directional decision.
Of note, early last weekend, a large hodler sold over 80,000 BTC (approximately $9.6 billion) through Galaxy Digital OTC transactions, exerting significant selling pressure on the market. Nevertheless, BTC quickly stabilized near $119,000, demonstrating the market's strong liquidity absorption capacity.
BiyaPay Analyst Insights:
· Currently, BTC is still in a consolidation phase since the end of June, with $115,000 as a key support level;
· The resistance above is in the $118,200–$120,000 range, and a breakthrough is expected to challenge the previous high;
· If it falls below $114,000, it may test the support zone of $111,000–$112,500;
· From an on-chain perspective, 97% of circulating BTC is in a profitable state, with unrealized profits amounting to $1.4 trillion, indicating lingering profit-taking pressure;
· Long-term holders still control 53% of the supply, so in the event of another large-scale sell-off, new capital inflows will be needed to absorb it;
· The market structure is robust, and short-term trends may be driven by macro sentiment (such as tariff policies, U.S. stock volatility). Investors are advised to closely monitor breakout signals.
BiyaPay analysts stated that through BiyaPay, users can trade BTC, ETH, and other mainstream coins as well as U.S. and Hong Kong stocks in real time using USDT, without the need to open an offshore account, enabling easy participation in global market opportunities.
You may also like

The most important thing in Web3 primary market investment

The strategic focus of cryptocurrency in reconstructing the international monetary system and the Chinese solution

Musk Poached Aave App's Web3 Prodigy

The Petro Order is Cracking. What Comes Next for the Middle East?

ETF Fund Inflows Emerging, What's Still Missing for BTC to Fully Recover?

Forbes Special Report: The Embrace of AI Agents in the Cryptocurrency Industry

Bitpanda, Vision Web3 Foundation, and Optimism Partner to Onboard European Financial Institutions to the Global Blockchain Economy

What will the early Hyperliquid prediction market look like?

Overseas VC's Two-Week Trip to China AI Leaves Them in Awe of Shenzhen Hardware

Was CZ Also Rug Pulled? BNB Treasury CEA Industries Control Battle

A transaction in 7 seconds, earning tens of millions of dollars, he's seen as the "cancer of meme coins."

Bittensor Ecosystem Token SN Surges 5x in March, What's Behind Richard Heart's One-Liner?

The economy is entering a new cycle, how can the average person prepare?

Access Binance Alpha Box: Sigma.Money to Launch BNB Chain Ecosystem Yield Farming Gateway

Kimi, Chip, and Bean come together for a Crypto Hackathon: What did AI developers build on Monad?

How to Trade Crypto on Mobile Browser & Win LALIGA Tickets (2026 Guide)
Discover how AI automation, natural language trading, and mobile browser trading platforms are shaping automated trading in 2026. Join the WEEX live trading event for early access and rewards like LALIGA VIP tickets.

Connecting encryption, TradFi, and payments, is Gate completing the final puzzle of the "super APP"?

