Current BTC Market Trends and Important Price Points

Price Movement and Liquidity Zone On August 8, BTC bounced back to $117,500, which is a 2% rise in the last day, regaining some ground from the highs in July, but it's still stuck in a low-liquidity zone between $110,000 and $117,000. Key resistance points are at $116,900 (short-term holder cost benchmark) and $120,000 (a psychological level). As for support, we have the $112,000 to $114,000 range (which has been tested several times this August) and $110,000 (a historical peak). Technical Indicators Looking at the daily chart, we can see a "pattern of consecutive rises and a single drop." The indicator is showing a death cross, yet there’s been no major downturn, suggesting a stand-off between the bulls and bears. If it breaks above $117,000 and holds there, it might continue its journey toward $120,000. However, if it dips below $110,000, we might see it pull back to around $105,000. 2. Policy and Macro Factors US Pension Market Welcomes Crypto Investments Trump has signed off on an executive order allowing 401(k) plans to include cryptocurrencies, like BTC, which could tap into a massive $8.7 trillion market. After this policy takes effect, we can expect institutional fund rebalancing to boost BTC demand. Rising Odds of a Fed Policy Change The chances of a rate cut in September have skyrocketed to 95% from just 38% a week ago, mainly due to disappointing employment and service sector reports. If Powell leans dovish at the Jackson Hole annual meeting on August 21st, it could spark a BTC breakout. Key Regulatory Update: Ripple Case Progress The SEC and Ripple (XRP) are set to file a joint report on August...