Bitcoin Struggles Near $120K Barrier While Altcoins Show Signs of Recovery – Updated Price Analysis for August 7, 2025

By: crypto insight|2025/08/07 22:40:04

As of today, August 7, 2025, the cryptocurrency market is buzzing with anticipation. Bitcoin has been hitting roadblocks around the $120,000 mark, yet altcoins are positioning themselves for a potential bounce back. This comes amid a landscape where investors are closely watching key levels, with charts hinting at continued buying interest during dips for both Bitcoin and various altcoins.

Market Overview: Bitcoin Faces Resistance, But Bulls Hold Firm

Bitcoin continues to encounter selling pressure close to $120,000, showing that sellers are putting up a strong fight at this threshold. On the brighter side, buyers haven’t let the price slip below crucial moving averages, which points to their determination to hold onto positions without rushing to cash out profits. Think of it like a tug-of-war where neither side is ready to concede just yet – the tension is building for a decisive move.

Experts have noted that the Bollinger Bands are tightening up, a classic signal that a big price swing could be imminent. The creator of this indicator has even suggested on social media that Bitcoin might be priming for an upward surge. This optimism is backed by real inflows: Bitcoin-focused exchange-traded products saw $850 million poured in during the latest trading week, according to recent data. While this is a slight dip from the $1.6 billion seen in prior weeks, it reflects a measured enthusiasm as Bitcoin nears record highs.

Imagine the market as a coiled spring – the squeeze in volatility often precedes a powerful release. Investors aren’t backing down, steadily channeling funds into these products, which underscores a resilient belief in Bitcoin’s potential despite the hurdles.

In terms of brand alignment, platforms that prioritize user security and seamless trading experiences are gaining traction. For instance, aligning with exchanges that emphasize transparency and innovation helps investors navigate these volatile waters more confidently, ensuring their strategies match the evolving crypto ecosystem.

Spotlight on WEEX: Enhancing Your Crypto Trading Journey

When it comes to reliable platforms for trading cryptocurrencies like Bitcoin and altcoins, WEEX stands out with its commitment to security, low fees, and user-friendly interface. As a trusted exchange, WEEX offers advanced tools that align perfectly with the needs of both novice and experienced traders, helping you capitalize on market rebounds while minimizing risks. Its focus on innovation and community trust makes it an ideal choice for those looking to dive deeper into price action and predictions.

S&P 500 Index: Continuing Its Upward Momentum

The S&P 500 has been on a steady climb, reflecting strong buying interest even at elevated levels. This kind of sustained demand is like a marathon runner finding a second wind – it keeps pushing forward. Typically, after surpassing a major hurdle, prices might pull back to test that breakout point. So, keep an eye on a possible dip to around 6,300; if it bounces sharply from there, it could confirm that former resistance has turned into solid support, paving the way for a push toward 6,700.

On the flip side, if sellers manage to drive it below the 20-day exponential moving average at about 6,250, the momentum could falter, potentially leading to a drop toward the 50-day simple moving average near 6,050. This balance highlights how traditional markets can influence crypto sentiment.

US Dollar Index: Pulling Back with Eyes on Key Levels

The US Dollar Index rebounded from 96.50 earlier this week, showing there’s buying support at lower points. This recovery might test the recent breakdown area around 98.10, where sellers could step in aggressively. If it rejects sharply there, it might signal an attempt to turn that level into resistance, raising the chances of a slide below 96.50 and toward 95.00.

However, breaking and closing above 98.10 would indicate buyers are regaining control, possibly lifting the index to the 50-day simple moving average at 99.20, and beyond to 100.70 or even 102. This dynamic is crucial, as dollar strength often contrasts with crypto gains, much like opposing forces in a economic seesaw.

Bitcoin Price Prediction: Range-Bound but Poised for Breakout

Bitcoin has been trading in a narrow band between its 20-day exponential moving average at $115,000 and the resistance at $120,000. This consolidation phase won’t last forever – a breakout is on the horizon, though pinpointing the direction is tricky. If prices dip below the moving averages, it could lead to a decline toward $110,000 and possibly $105,000.

Conversely, overcoming $120,000 might trigger a rally to $125,000, and then to the neckline of an inverse head-and-shoulders pattern. Surpassing that could ignite the next upward leg, targeting $160,000. Recent Twitter discussions are abuzz with this pattern, with users sharing charts and predicting a bullish explosion if resistance cracks. Google searches for “Bitcoin breakout signals” have spiked, reflecting widespread interest in these technical setups.

Latest updates include a prominent analyst’s post on X today, August 7, 2025, emphasizing Bitcoin’s resilience amid global economic shifts, supported by on-chain data showing increased whale accumulation.

Ether Price Prediction: Stuck in a Range, Awaiting Momentum

Ether remains confined between $2,800 and $2,400, with repeated failures to sustain breaks on either side. Buyers are pushing toward $2,700, which could open doors to $2,800. The real test lies in the $2,800 to $2,950 zone, where sellers might defend vigorously.

A rebound from the 20-day exponential moving average would encourage another attempt to breach $2,950. But a close below that average might prolong the range, and dropping under $2,200 could empower sellers. This setup is like a boxer circling the ring, waiting for the right moment to strike.

Trending on Twitter are debates about Ether’s scalability upgrades, with official announcements from the Ethereum foundation hinting at upcoming improvements that could boost adoption.

XRP Price Prediction: Building Upward Pressure

XRP has held above its 20-day exponential moving average at $2.30, suggesting sellers aren’t dominating. With the average starting to rise and the relative strength index in positive territory, the upside seems favored. Resistance at $2.40 might give way, leading to climbs toward $2.55 and $2.75. Clearing $2.75 could spark a move to $3.00.

If it slips below the 20-day average, it might oscillate between $2.40 and $2.10 for longer. Google queries like “XRP lawsuit updates” remain high, tied to ongoing regulatory news that’s fueling discussions.

BNB Price Prediction: Positive Sentiment on Dips

BNB rebounded from its 20-day exponential moving average at $670, signaling traders are snapping up dips amid an optimistic mood. The upward-sloping average and relative strength index above the midpoint give buyers a slight advantage. Breaking $680 could lead to $690 and $710, with $710 being a tough barrier; surpassing it might aim for $750.

A drop below the averages could send it to $650. This resilience mirrors how BNB often weathers storms better than peers, backed by its ecosystem’s growth.

Solana Price Prediction: Balancing Act in Play

Solana pushed above its 20-day exponential moving average at $152 but faces hurdles at the 50-day simple moving average of $158. The flat average and relative strength index near the midpoint show equilibrium. Clearing $162 could target $190, with a stop at $172.

Supports at $148 and $140 are key; below $140 favors sellers, possibly to $130. Solana’s speed advantages, often compared to a high-performance engine, keep it in the spotlight.

Dogecoin Price Prediction: Attempting a Comeback

Dogecoin broke above its 20-day exponential moving average at $0.17, hinting at buyer resurgence. Holding here could lift it to the 50-day simple moving average at $0.19 and $0.22. Overcoming $0.22 might reach $0.27.

A reversal below the 20-day average suggests sellers are active on rallies, potentially dropping to $0.15. Meme coin hype on Twitter, including celebrity endorsements, drives frequent searches for “Dogecoin pump factors.”

Cardano Price Prediction: Pressure Building for a Shift

Cardano is hugging its 20-day exponential moving average at $0.60, with buyers maintaining the push. The flattening average and relative strength index near the midpoint indicate easing sell-offs. Above the average, it could hit the 50-day simple moving average at $0.66 and the downtrend line. Breaking that line signals a trend change.

Below $0.52 completes a bearish pattern, targeting $0.42. Cardano’s focus on sustainability sets it apart, like a eco-friendly alternative in a gas-guzzling world.

Hyperliquid Price Prediction: Demand at Lower Levels

Hyperliquid has stayed above its 20-day exponential moving average at $40.00, showing buying interest. But failing to break $42.50 is a concern. Overcoming it could rally to the $44.00 to $48.00 zone.

Below the 50-day simple moving average at $38.00 opens drops to $35.00 and $32.00. This token’s decentralized features draw comparisons to innovative DeFi tools.

Recent Google trends highlight queries on “Hyperliquid token utility,” while Twitter buzz includes updates on its liquidity protocols.

Every investment carries risks, so thorough research is essential before deciding.

FAQ

What are the key signs that Bitcoin could break out to new highs?

Look for a sustained close above $120,000, supported by tightening Bollinger Bands and positive on-chain data like whale accumulation, which often precede upward moves.

How might altcoins like Ether and XRP perform if Bitcoin rebounds?

If Bitcoin gains traction, altcoins could follow suit; Ether might target $2,950, while XRP could aim for $2.75, driven by market-wide optimism and specific project updates.

Is now a good time to invest in cryptocurrencies amid current market volatility?

It depends on your risk tolerance; current dips offer buying opportunities, but always back decisions with data like moving averages and inflows, and consider diversified platforms for trading.

Editor's Note: Citrini7's cyberpunk-themed AI doomsday prophecy has sparked widespread discussion across the internet. However, this article presents a more pragmatic counter perspective. If Citrini envisions a digital tsunami instantly engulfing civilization, this author sees the resilient resistance of the human bureaucratic system, the profoundly flawed existing software ecosystem, and the long-overlooked cornerstone of heavy industry. This is a frontal clash between Silicon Valley fantasy and the iron law of reality, reminding us that the singularity may come, but it will never happen overnight.

The following is the original content:

Renowned market commentator Citrini7 recently published a captivating and widely circulated AI doomsday novel. While he acknowledges that the probability of some scenes occurring is extremely low, as someone who has witnessed multiple economic collapse prophecies, I want to challenge his views and present a more deterministic and optimistic future.

Never Underestimate "Institutional Inertia"

In 2007, people thought that against the backdrop of "peak oil," the United States' geopolitical status had come to an end; in 2008, they believed the dollar system was on the brink of collapse; in 2014, everyone thought AMD and NVIDIA were done for. Then ChatGPT emerged, and people thought Google was toast... Yet every time, existing institutions with deep-rooted inertia have proven to be far more resilient than onlookers imagined.

When Citrini talks about the fear of institutional turnover and rapid workforce displacement, he writes, "Even in fields we think rely on interpersonal relationships, cracks are showing. Take the real estate industry, where buyers have tolerated 5%-6% commissions for decades due to the information asymmetry between brokers and consumers..."

Seeing this, I couldn't help but chuckle. People have been proclaiming the "death of real estate agents" for 20 years now! This hardly requires any superintelligence; with Zillow, Redfin, or Opendoor, it's enough. But this example precisely proves the opposite of Citrini's view: although this workforce has long been deemed obsolete in the eyes of most, due to market inertia and regulatory capture, real estate agents' vitality is more tenacious than anyone's expectations a decade ago.

A few months ago, I just bought a house. The transaction process mandated that we hire a real estate agent, with lofty justifications. My buyer's agent made about $50,000 in this transaction, while his actual work — filling out forms and coordinating between multiple parties — amounted to no more than 10 hours, something I could have easily handled myself. The market will eventually move towards efficiency, providing fair pricing for labor, but this will be a long process.

I deeply understand the ways of inertia and change management: I once founded and sold a company whose core business was driving insurance brokerages from "manual service" to "software-driven." The iron rule I learned is: human societies in the real world are extremely complex, and things always take longer than you imagine — even when you account for this rule. This doesn't mean that the world won't undergo drastic changes, but rather that change will be more gradual, allowing us time to respond and adapt.

The Software Industry Has "Infinite Demand" for Labor

Recently, the software sector has seen a downturn as investors worry about the lack of moats in the backend systems of companies like Monday, Salesforce, Asana, making them easily replicable. Citrini and others believe that AI programming heralds the end of SaaS companies: one, products become homogenized, with zero profits, and two, jobs disappear.

But everyone overlooks one thing: the current state of these software products is simply terrible.

I'm qualified to say this because I've spent hundreds of thousands of dollars on Salesforce and Monday. Indeed, AI can enable competitors to replicate these products, but more importantly, AI can enable competitors to build better products. Stock price declines are not surprising: an industry relying on long-term lock-ins, lacking competitiveness, and filled with low-quality legacy incumbents is finally facing competition again.

From a broader perspective, almost all existing software is garbage, which is an undeniable fact. Every tool I've paid for is riddled with bugs; some software is so bad that I can't even pay for it (I've been unable to use Citibank's online transfer for the past three years); most web apps can't even get mobile and desktop responsiveness right; not a single product can fully deliver what you want. Silicon Valley darlings like Stripe and Linear only garner massive followings because they are not as disgustingly unusable as their competitors. If you ask a seasoned engineer, "Show me a truly perfect piece of software," all you'll get is prolonged silence and blank stares.

Here lies a profound truth: even as we approach a "software singularity," the human demand for software labor is nearly infinite. It's well known that the final few percentage points of perfection often require the most work. By this standard, almost every software product has at least a 100x improvement in complexity and features before reaching demand saturation.

I believe that most commentators who claim that the software industry is on the brink of extinction lack an intuitive understanding of software development. The software industry has been around for 50 years, and despite tremendous progress, it is always in a state of "not enough." As a programmer in 2020, my productivity matches that of hundreds of people in 1970, which is incredibly impressive leverage. However, there is still significant room for improvement. People underestimate the "Jevons Paradox": Efficiency improvements often lead to explosive growth in overall demand.

This does not mean that software engineering is an invincible job, but the industry's ability to absorb labor and its inertia far exceed imagination. The saturation process will be very slow, giving us enough time to adapt.

Redemption of "Reindustrialization"

Of course, labor reallocation is inevitable, such as in the driving sector. As Citrini pointed out, many white-collar jobs will experience disruptions. For positions like real estate brokers that have long lost tangible value and rely solely on momentum for income, AI may be the final straw.

But our lifesaver lies in the fact that the United States has almost infinite potential and demand for reindustrialization. You may have heard of "reshoring," but it goes far beyond that. We have essentially lost the ability to manufacture the core building blocks of modern life: batteries, motors, small-scale semiconductors—the entire electricity supply chain is almost entirely dependent on overseas sources. What if there is a military conflict? What's even worse, did you know that China produces 90% of the world's synthetic ammonia? Once the supply is cut off, we can't even produce fertilizer and will face famine.

As long as you look to the physical world, you will find endless job opportunities that will benefit the country, create employment, and build essential infrastructure, all of which can receive bipartisan political support.

We have seen the economic and political winds shifting in this direction—discussions on reshoring, deep tech, and "American vitality." My prediction is that when AI impacts the white-collar sector, the path of least political resistance will be to fund large-scale reindustrialization, absorbing labor through a "giant employment project." Fortunately, the physical world does not have a "singularity"; it is constrained by friction.

We will rebuild bridges and roads. People will find that seeing tangible labor results is more fulfilling than spinning in the digital abstract world. The Salesforce senior product manager who lost a $180,000 salary may find a new job at the "California Seawater Desalination Plant" to end the 25-year drought. These facilities not only need to be built but also pursued with excellence and require long-term maintenance. As long as we are willing, the "Jevons Paradox" also applies to the physical world.

Towards Abundance

The goal of large-scale industrial engineering is abundance. The United States will once again achieve self-sufficiency, enabling large-scale, low-cost production. Moving beyond material scarcity is crucial: in the long run, if we do indeed lose a significant portion of white-collar jobs to AI, we must be able to maintain a high quality of life for the public. And as AI drives profit margins to zero, consumer goods will become extremely affordable, automatically fulfilling this objective.

My view is that different sectors of the economy will "take off" at different speeds, and the transformation in almost all areas will be slower than Citrini anticipates. To be clear, I am extremely bullish on AI and foresee a day when my own labor will be obsolete. But this will take time, and time gives us the opportunity to devise sound strategies.

At this point, preventing the kind of market collapse Citrini imagines is actually not difficult. The U.S. government's performance during the pandemic has demonstrated its proactive and decisive crisis response. If necessary, massive stimulus policies will quickly intervene. Although I am somewhat displeased by its inefficiency, that is not the focus. The focus is on safeguarding material prosperity in people's lives—a universal well-being that gives legitimacy to a nation and upholds the social contract, rather than stubbornly adhering to past accounting metrics or economic dogma.

If we can maintain sharpness and responsiveness in this slow but sure technological transformation, we will eventually emerge unscathed.

Source: Original Post Link

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