Bitcoin will probably have to hold above the level of support of $ 110,000 to have a chance to retest its summit of all time, according to an analyst, because Bitcoin fell 5% during the weekend.
Bitcoin went from around $ 118,330 Friday, going to $ 112,300 on Sunday, a low -month start of a historically bad month for Bitcoin.
“Many will depend on how the feeling of risks is held together after the terrible [US] Job report and new pricing developments, ”said market analyst IG Tony Sycamore on Monday, while Bitcoin recovered $ 114,800.
He said that the decline of the top of all time over the weekend had tested and held support from the former $ 112,000 record, “which was also the target of logical withdrawal.”
“If the feeling of risk stabilizes and Bitcoin remains greater than $ 112,000 / $ 110,000, it can hold the record. However, just above is an important monthly resistance at $ 125,000, and I do not see the catalyst so that it breaks now.”
However, if the risk appetite takes another leg lower in August and Bitcoin had to see a sustained breach of support, the correction could go back to the 200-day mobile average at $ 99,355, he added.
Sycamore’s prediction echoes a similar Arthur Hayes on Sunday, warning that macroeconomic pressures could bring Bitcoin back to $ 100,000.
August a month of bears for Bitcoin
Since 2013, Bitcoin prices (BTC) have generally recorded monthly decreases in August, according to Glassnode.
In 2024, the assets lost 8.6% falling to just over $ 59,000. It was a small loss compared to 2023 and 2022, when she lost two figures in August, falling respectively at $ 27,300 and $ 19,800.
The average loss in August was 11.4%, so if the story rhymes and BTC falls similarly this month, it could fall to around $ 105,000.
However, the graph shows exceptions to this rule during the years of the Haussier market.
September were just as bad
The last time there was a gain in August was during the Haussier market of 2021 when BTC added 13.8% to finish the month to just over $ 47,000. There is still hope because 2025 is also a year of the Haussier market, following a four -year market cycle.
In relation: Bitcoin ends the record month at $ 115,000 with BTC prices set for “ vertical ” August ‘
The prospects are not good either for September, because eight of the last 12 September have experienced losses.
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