Bitcoin Breaks Above $114,000 but Falls 1.16% Intraday
On August 2, BTC briefly surpassed $114,000 on OKX, trading at $114,009.90. Despite reaching a new milestone, the Bitcoin price recorded a 1.16% intraday decline as traders booked profits after the breakout. The Bitcoin price movement reflects increased market volatility around key resistance levels. Investors will watch if BTC can sustain above $114,000 or if it retreats to support zones near $113,000. The session underscores the importance of managing risk amid rapid price swings in the crypto market.
Neutral
The brief surge above $114,000 marks a bullish milestone for Bitcoin, yet the subsequent 1.16% intraday drop points to profit-taking and short-term volatility. Historically, similar breakouts have led to consolidation rather than sustained rallies or steep declines. Traders are likely to await confirmation of support around $113,000 before committing new positions. Combined, these factors suggest a balanced outlook rather than a clear bullish or bearish trend.