Will Bitcoin Hit $119K or Drop to $110K Next? Key Levels in Focus

TL;DR

• Bitcoin hovers close to $115K, with resistance at $114.8K-$116.8K essential for brand spanking new all-time highs.
• Weekend dip to $111,965 triggered $670 million futures losses, principally from lengthy positions.
• Analysts warn a rejection might see Bitcoin retest the $110K-$112K accumulation help zone.
• Mining problem hits 127.6 trillion; historic August patterns counsel potential volatility forward.

Value Motion and Market Response

Bitcoin (BTC) traded jumped to $115,000 on Monday after rebounding from a weekend dip to round $111,965. The drop adopted Friday’s U.S. jobs knowledge, which fueled recession issues in the USA. Over the past 24 hours, the cryptocurrency recorded a buying and selling quantity of $29 billion.

Information from Coinglass confirmed that the sudden decline led to about $670 million in losses from perpetual futures positions, with lengthy positions accounting for over $550 million. Regardless of the slight 1% achieve up to now 24 hours, Bitcoin stays down 3% for the week.

Essential Resistance Ranges at $114.8K and $116.8K

Analyst Michaël van de Poppe stated, 

“Bitcoin is doing nice. It’s again as much as the primary essential resistance zone and inexperienced gentle for a brand new ATH. Breaking by means of this space isn’t a assure of a brand new ATH, however first step.” 

He pointed to $114.8K as the primary stage to clear and $116.8K because the second. A transfer above these zones might put $119.5K in focus for an all-time excessive take a look at.

#Bitcoin is doing nice.

It’s again as much as the primary essential resistance zone and inexperienced gentle for a brand new ATH.

Breaking by means of this space isn’t a assure of a brand new ATH, however first step.

Rejection right here?

Sure, that will imply we’re retesting the realm round $110-112K.

There… pic.twitter.com/d3PpbgU9gp

— Michaël van de Poppe (@CryptoMichNL) August 4, 2025

He additionally warned {that a} failure to interrupt above the present zone might ship the value again towards the $110K–$112K vary. This space is seen by many merchants as a robust help zone the place patrons might step in earlier than any try at a bigger rally.

Market Construction and Value Gaps

Ted noted, 

“$BTC now has a CME hole between $113.5K-$114K. Most of those CME gaps are crammed, so count on a dip under $114K.” 

This leaves room for a small pullback earlier than any push larger.

Daan Crypto Trades observed that Bitcoin typically units its month-to-month excessive or low throughout the first week of every month. He stated, 

“The present transfer from excessive to low can be simply ~3.6%. There’s a really excessive probability we make a bigger transfer this month.” 

The analyst added that in previous years, months in uptrends typically noticed a flush decrease early within the month, adopted by a climb.

Community and Broader Outlook

As CryptoPotato reported, Bitcoin’s mining problem hit a brand new peak at 127.6 trillion this week as community computing energy rose. 

Robert Kiyosaki additionally shared a cautious view, suggesting Bitcoin might fall towards $90,000. He cited the asset’s historical past of sharp August declines as a motive for the warning.

With Bitcoin holding close to $114K-$116K, merchants are centered on whether or not it could actually break by means of resistance for an all-time excessive try or pull again to retest decrease help ranges.