Bitcoin Faces Intraday Pullback; This Analyst Eyes $128K on Rebound
BTCUSD experienced a sharp intraday decline after reaching
an all-time high. The price appears to have found support near $118,000, which
could provide a base for a potential rebound. Analysts note that a decisive
break below this level may lead to a more extended correction in the
cryptocurrency.
Short-term uncertainty persists as key support levels will
likely determine Bitcoin’s next move. Maintaining levels above resistance could
allow further gains, while a breach of support may trigger a deeper pullback.
While the broader trend remains bullish, intraday weakness is increasing
volatility.
Crypto Analyst Sees $128K Target for Bitcoin Amid
Short-Term Weakness
Crypto analyst BitcoinHyper noted on social media that
Bitcoin recently pulled back after encountering resistance near $123,000,
causing over $800 million in long-position liquidations. The price has since
moved to the middle of its horizontal trading range, with support identified at
$118,200 and stronger support around $116,300.
This is the best support on Bitcoin currently.I’ll be looking for a new long trade: https://t.co/mkH6zdRztN pic.twitter.com/NIEOE4YpoJ
— BitcoinHyper (@BitcoinHypers) August 15, 2025
The analyst highlighted that the 4-hour chart still shows a
bullish trend. However, a lower low on the 1-hour chart indicates short-term
weakness. The $120,000 level remains a key pivot. Holding above it could open
the path to $128,000, while a drop below may lead to further declines. Ethereum
has also rebounded in the short term but faces similar risks of reversal.
You may find it interesting at FinanceMagnates.com: Bitcoin
Analyst Signals Reversal Ahead; Trump Executive Order to Probe Crypto Debanking.
BitMEX Co-Founder Warns of BTC Volatility
BitMEX co-founder Arthur
Hayes warned that Bitcoin could fall to $100,000, citing macroeconomic
headwinds that may affect the broader market. His comments came after
liquidating more than $13 million in crypto assets.
Hayes pointed to weakening
economic indicators, including the July Non-Farm Payrolls report, which added
73,000 jobs versus expectations of 110,000, and slow credit growth across major
economies.
Y? US Tariff bill coming due in 3q … at least the mrkt believes that after NFP print. No major econ is creating enough credit fast enough to boost nominal gdp. So $BTC tests $100k, $ETH tests $3k. Come see my @WebX_Asia Tokyo keynote Aug 25 for more info. Back to the beach. https://t.co/zuHlwgQKC7
— Arthur Hayes (@CryptoHayes) August 2, 2025
Hayes’s portfolio moves—selling ETH, Ethena, and Pepe while
holding $22.95 million in USDC—suggest preparation for potential volatility. He
anticipates Bitcoin testing $100,000 and Ethereum around $3,000 in the event of
a broader market decline.
DeepSeek AI Outlines Three Possible Bitcoin Scenarios for
2025
DeepSeek AI has outlined three
possible scenarios for Bitcoin in 2025. In a base case, Bitcoin could trade
between $100,000 and $150,000.
A more optimistic scenario projects the price
reaching $350,000, while a high-end “black swan” scenario sees it rising to
$500,000. These projections are based on assumptions of increased institutional
adoption and broader acceptance of blockchain in global finance.
This article was written by Tareq Sikder at www.financemagnates.com.
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