TechFlow, August 4 — QCP released a briefing stating that Bitcoin experienced its third consecutive Friday decline, briefly touching the support level of $112,000, triggering over $1 billion in leveraged long positions liquidated across the cryptocurrency market. This correction coincided with bearish factors including weaker-than-expected U.S. employment data and new tariff policies.
Solana dropped nearly 20% for the week, while Ethereum fell close to 10%. Spot exchange-traded funds (ETFs) saw significant outflows, with Bitcoin ETFs recording the second-largest single-day outflow in history and Ethereum ETFs registering the fourth-largest outflow to date.
Nevertheless, Bitcoin's July closing price reached a record high. Structural market tailwinds remain intact, including clearer regulatory frameworks, expanded stablecoin adoption, and accelerated institutional tokenization. Options markets indicate strong institutional investor interest in bullish option strategies—particularly call spreads expiring on August 29 with strike prices between $118,000 and $126,000—reflecting cautious optimism about a potential rebound.
Analysts highlight the critical resistance level at $115,000, noting that ETF capital flows and volatility indicators may provide key direction for future price movements.
