By Omkar Godbole (All times ET unless indicated otherwise)
In the world of rock climbing, athletes don’t simply grab a new ledge and reach out for the next one. First, they put their full weight on the new ledge to ensure it’s solid before aiming higher.
Bitcoin (BTC) has followed a similar pattern since Friday’s U.S. jobs data, which triggered concerns of a recession in the world’s largest economy. The cryptocurrency’s price came under pressure, dropping almost to $111,965, testing support at the then-record high set in May, over the weekend. It recovered to trade recently around $114,700.
The decline resulted in roughly $670 million in losses on perpetual futures positions, of which over $550 million were long positions, according to Coinglass. The crowding out of the excess leverage could mean a more sustainable upswing in prices.
John Glover, the chief investment officer at Ledn, said he now expects BTC to rally to around $140,000 by year-end. 10x Research recently identified the $
We współpracy z: https://www.coindesk.com/daybook-us/2025/08/04/bitcoin-tests-support-before-aiming-higher-crypto-daybook-americas
