Bitcoin’s value experienced a minor decline, with a fall of $343.65, bringing it to a current valuation of $118997.29 according to the CoinDesk Bitcoin Price Index. This represents a 0.29% dip in the last trading session.

Over the past three days, the cryptocurrency has seen a decrease twice, however, it’s worth noting that it is still up by 10.4% for the month-to-date and has seen an impressive 27.39% rise since the beginning of the year.

Despite the recent drop, Bitcoin remains significantly higher than it was 52 weeks ago (July 18, 2024), when it was trading at $63517.58, an increase of 87.35%. This still represents a 3.38% decrease from its all-time intraday high of $123165.67 that was recorded on July 14, 2025.

On the lower end, Bitcoin recorded an intraday low of $117522.85, which is a decline of 1.52% for the day. However, it has rallied 138.32% from its 52-week intraday low of $49314.04 on Aug. 5, 2024.

All data is compiled by Dow Jones Market Data and represents the CoinDesk Bitcoin Price Index (XBX) position at 4 p.m. ET close.

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After a positive surge from the $85,000 zone, Bitcoin’s price now trades under $90,000 and the 100 hourly Simple Moving Average. An emerging short-term contracting triangle, with resistance at $89,650, can be seen on the hourly chart of the BTC/USD pair (data sourced from Kraken).

The BTC/USD pair could face a decline if it cannot push past the $92,000 resistance zone. Bitcoin’s price had previously dropped below the $90,000 mark, going under $88,000 and $87,000 support levels before hitting the $85,000 support zone.

A recovery wave began after hitting a low at $84,665. The price moved above the $86,000 and $87,000 resistance levels, with bulls driving the price towards the 50% Fib retracement level of the plunge from the $92,741 swing high to the $84,665 low.

The initial resistance is near the $88,700 level, with a significant resistance close to the $90,000 mark. The next key resistance could be at $92,000. If the price manages to close above this level, the price could surge further, testing the $93,500 resistance level, and potentially even reaching the $95,000 or $96,200 mark.

However, if Bitcoin fails to rise above the $90,000 resistance zone, it could trigger another decline. Immediate support on the downside is around the $87,000 mark, with the first major support close to the $86,200 level. The $85,000 zone represents the next support, with any further losses potentially driving the price towards the $82,000 support in the near term. The main support lies at $80,000.

Technical indicators:

Hourly MACD – The MACD is now losing pace in the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now below the 50 level.

Major Support Levels – $87,000, followed by $85,000.

Major Resistance Levels – $90,000 and $92,000.

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The cryptocurrency’s remarkable journey saw it reaching $64,100, edging closer to the elusive record high of nearly $69,000. This rally is further bolstered by the anticipation of a halving event, promising a reduction in Bitcoin supply growth and potentially igniting further price hikes. As of now, Bitcoin stands at $62,651, having touched $63,675 in early trading, outperforming stocks and drawing traders with its volatility.

On the trading front, Bitcoin’s volume soared to its highest since the FTX collapse, with $34 billion worth of Bitcoin changing hands, signaling a vibrant and active market. The on-chain activity, including transactions, circulation, and significant whale movements, has surged, reaching new heights with $35.37 billion in on-chain transaction volume. Such dynamism is mirrored in the trading activity of spot Bitcoin ETFs, where volumes leaped to approximately $8 billion, reflecting the growing investor interest and confidence in Bitcoin’s potential.

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