Crypto Markets Pull Back amid Macro Worries
The post Crypto Markets Pull Back amid Macro Worries appeared on BitcoinEthereumNews.com. Large-cap crypto assets struggled to hold gains after a strong July, weighed down by weak U.S. jobs data and tariff uncertainties. Following a strong July, crypto markets dipped on Friday, Aug. 1, as U.S. tariff developments and disappointing jobs data dampened investor sentiment. BTC 1-month price chart. Source: CoinGecko Bitcoin (BTC) slipped below $115,000 today, after hitting a mid-July peak and recording a new all-time high of about $122,800. The top cryptocurrency is consolidating between $114,000 and $116,000 today as momentum from its rally this month fades and ETF inflows cool amid macro uncertainty. Still, Bitcoin closed July with an 8.1% monthly gain, marking its highest monthly close ever, above $116,300, according to CoinGecko. Analysts Look Back at July On-chain analyst Willy Woo said in an X post on Thursday, July 31, that “July marked a transition from trend to consolidation” for Bitcoin. The analyst noted that speculation and profit-taking were weighing on momentum and could force Bitcoin into a reset or sideways grind before another breakout. Glassnode analysts noted in an X post the same day that BTC still remains above all short‑term holder cost‑basis zones — ranging from $110,000 to $117,000 — suggesting underlying support even if a retracement unfolds. And yet, analysts at Fidelity Digital Assets suggested that Bitcoin’s acceleration phase is still intact, pointing to five new all-time high closes in July and noting that BTC spent more than half of Q2 riding high on profits and volatility. BTC price movements by month. Source: Coinglass Meanwhile, Ethereum (ETH) rallied nearly 50% in July, as institutional interest in Ethereum gathered steam, reflected by the accelerating ETH treasury trend and record inflows into spot Ethereum exchange-traded funds (ETFs). ETH is currently trading near $3,600, still failing to break through the $4,000 level, which it last touched in December…
The post Crypto Markets Pull Back amid Macro Worries appeared on BitcoinEthereumNews.com.
Large-cap crypto assets struggled to hold gains after a strong July, weighed down by weak U.S. jobs data and tariff uncertainties. Following a strong July, crypto markets dipped on Friday, Aug. 1, as U.S. tariff developments and disappointing jobs data dampened investor sentiment. BTC 1-month price chart. Source: CoinGecko Bitcoin (BTC) slipped below $115,000 today, after hitting a mid-July peak and recording a new all-time high of about $122,800. The top cryptocurrency is consolidating between $114,000 and $116,000 today as momentum from its rally this month fades and ETF inflows cool amid macro uncertainty. Still, Bitcoin closed July with an 8.1% monthly gain, marking its highest monthly close ever, above $116,300, according to CoinGecko. Analysts Look Back at July On-chain analyst Willy Woo said in an X post on Thursday, July 31, that “July marked a transition from trend to consolidation” for Bitcoin. The analyst noted that speculation and profit-taking were weighing on momentum and could force Bitcoin into a reset or sideways grind before another breakout. Glassnode analysts noted in an X post the same day that BTC still remains above all short‑term holder cost‑basis zones — ranging from $110,000 to $117,000 — suggesting underlying support even if a retracement unfolds. And yet, analysts at Fidelity Digital Assets suggested that Bitcoin’s acceleration phase is still intact, pointing to five new all-time high closes in July and noting that BTC spent more than half of Q2 riding high on profits and volatility. BTC price movements by month. Source: Coinglass Meanwhile, Ethereum (ETH) rallied nearly 50% in July, as institutional interest in Ethereum gathered steam, reflected by the accelerating ETH treasury trend and record inflows into spot Ethereum exchange-traded funds (ETFs). ETH is currently trading near $3,600, still failing to break through the $4,000 level, which it last touched in December…
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