Bitcoin Price Falls Below $113,000 Amid Market Volatility

Bitcoin's price dropped below $115,000 on August 1 and is currently around $112,600, a decline of over 1% in the past 24 hours. This downturn is attributed to geopolitical tensions following a nuclear threat from U.S. President Donald Trump.

Key points include:

Market discussions about Bitcoin possibly having reached its price peak are ongoing, although some analysts believe it may rise again before hitting its cycle top.
On-chain analyst Amr Taha suggests a bullish outlook based on recent changes in market dynamics.
Binance recorded over $7.6 billion in daily BTC spot volume, indicating increased trading activity amid price volatility.
Historically, significant spikes in spot volume have correlated with local price bottoms or reversals.
The U.S. Federal Reserve's net liquidity rose from $6 trillion to $6.17 trillion, which can positively impact risk assets like Bitcoin.
The combination of high spot volume and increased liquidity is seen as potentially setting the stage for a bullish continuation in Bitcoin's price.

Bitcoin
Bitcoin