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Market turmoil intensifies as Bitcoin and Ethereum face critical support level tests.
Financial market turbulence intensifies, Bitcoin and Ethereum face critical support level tests.
Global financial markets have experienced significant volatility due to the tense geopolitical situation. On Monday, the spot gold price rose to $3398 per ounce at one point, while Nasdaq futures fell by 0.9% and WTI crude oil prices opened up by 3.7%. Although the market's initial reaction has been relatively restrained, analysts expect that if the situation remains tense, oil prices could soar to $130 per barrel. Against this backdrop, the movement of the US dollar has become the focus of the market. Some strategists believe that a rising dollar could become a major trading trend this summer.
Recently, the global financial markets have experienced severe fluctuations due to escalating geopolitical conflicts and the Federal Reserve's decision to keep interest rates unchanged. Gold prices saw a significant increase in the short term but were subsequently sold off following the Federal Reserve's rate decision. Meanwhile, Bitcoin has demonstrated strong resilience, maintaining a price around 100,000 and fluctuating only between 100,000 and 110,000 over the past 42 days. Some analysts believe that Bitcoin is gradually shifting from a speculative asset to a long-term investment, as its decentralized nature and limited supply characteristics become increasingly attractive amid global uncertainty.
In the current environment of increasing uncertainty, the price of Bitcoin has risen back above $100,000. Several analysts have provided different predictions for Bitcoin's future trends, including maintaining the current range and reaching new highs, dropping below the current range to $95,000 and entering a bear market, or rebounding after testing $95,000. Specific resistance levels and support levels have also been proposed, with $95,000 viewed as an important support level. Some analysts have pointed out that if Bitcoin falls below $100,000, it may test $95,000 again and the bull market support zone.
In terms of Ethereum, its performance has continued to be weak, with the price constrained by a downward trend line and falling below the previous important support level of 2378 USD. Analysts suggest paying attention to its performance at the resistance level of 2378 USD; if it cannot break through, it may further drop to demand levels of 2114 USD and even 2036 USD.
While mainstream cryptocurrencies are consolidating, the altcoin market is also relatively quiet. Some emerging tokens like $BlackCoin, $Oil, and $ERC-69 have appeared, which revolve around concepts such as "dark web coin", "digital oil", and AI creation, attracting some attention.
As of the latest data, the price of Bitcoin is $101,351, with an increase of 8.43% year-to-date; the price of Ether is $2,239.19, with a decrease of 32.84% year-to-date. The Fear and Greed Index stands at 37, indicating a state of fear. In the past 24 hours, a total of 184,598 people have been liquidated globally, with a total liquidation amount reaching $642 million.
The future market trends still require close attention to the developments in geopolitical situations, the direction of the Federal Reserve's monetary policy, and the progress of various major cryptocurrency projects. Investors should remain vigilant and carefully assess risks.