Is Bitcoin slipping again?

Is Bitcoin slipping again?

Bitcoin (BTC) is trading below $115,000 signaling renewed signs of weakness. The leading cryptocurrency is struggling to break through a key resistance level, with overall market sentiment remaining cautious.

Adding to the bearish outlook, institutional demand is waning. Spot Bitcoin Exchange-Traded Funds (ETFs) have now posted three consecutive days of outflows. On August 4, U.S.-based crypto ETFs saw significant withdrawals:

• $323.5 million in outflows from Spot BTC ETFs
• $465.1 million from Spot Ether ETFs

Despite these headwinds, corporate treasuries are stepping in, helping stabilize the market. On Monday, institutional buyers collectively added over 600 BTC, signaling continued long-term interest even amid short-term uncertainty.

BTC briefly dropped to $114,430, but Ethereum (ETH) showed relative strength, gaining 4% to trade around $3,671. This uptick was fueled by corporate treasury allocations from companies like BitMine and SharpLink.

• Global crypto market cap: $3.75 trillion (+0.88% in 24h)
• XRP, SOL, DOGE, HYPE, ADA, BCH: each gained 2–3%

Mantle (MNT) surged 23%, driven by:

• A 69% jump in open interest (now at $36M)
• Increased retail and derivatives trading

Litecoin (LTC) jumped 13% to $124.70, after processing 14.5% of all crypto transactions via CoinGate in July, surpassing USDT and USDC

BNB climbed nearly 2% to $766, supported by a volume spike and announcements from U.S.-listed firms like CEA Industries and Liminatus Pharma

Chainlink (LINK) added 2% to $16.82 following the launch of new Data Streams for U.S. equities and ETFs

Institutional Highlights:

• BitMine became the largest corporate Ether holder, managing $2.9B in ETH
• Verb Technology announced a $558M Toncoin strategy, boosting its stock 65%, even as TON dropped 6%
• Sequans Communications (France) added 85 BTC, raising its holdings to 3,157 BTC
• Sweden’s H100 Group raised $2.2M to grow its Bitcoin treasury
• Bullish, an institutional crypto exchange, is reportedly prepping for a U.S. listing, with a potential valuation of $4.23 billion

What’s Ahead: Key Events in August:

• Aug 12: Expiry of the Trump–China tariff truce – if not renewed, global markets (including crypto) could react sharply
• Aug 13 & 14: U.S. CPI and PPI inflation data – critical for shaping Fed interest rate expectations
• Aug 21–23: Jackson Hole Symposium – Fed policy clarity anticipated
• Aug 29: Core PCE inflation – a key metric the Fed watches closely

With multiple macro events on the horizon and volatility on the rise, August could be a make-or-break month for the ongoing crypto rally.

You need to login in order to Like