In this video I break down the latest Bitcoin price action to determine if we are seeing a major bottom or just a temporary bounce. I analyze the current market structure using the Elliott Wave model to identify the key support and resistance zones that will dictate the direction of the market for the coming week. Video by More Crypto Online.
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As of August 4, 2026, Bitcoin (BTC) is trading around $63,400 to $63,900, showing a minor short-term recovery (+0.7% to +1.9%) over the last 24 hours as it aims to reclaim the $64,000 threshold. Despite brief intraday drops toward $62,250, crypto markets are stabilizing alongside gains in legacy equity and tech stocks.
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Bitcoin Insights Today
-Geopolitical & Macro Shifts: Bitcoin's recovery tracked a broader relief rally on Wall Street following a de-escalation of U.S.-Iran tensions. However, volatility remains high as the U.S. 10-year Treasury yields climbed to 4.74%, creating competing headwinds for risk assets.
-Institutional Liquidity Pressure: Corporate holders are shifting behaviors; major entities like Strategy sold 1,638 BTC for roughly $104.73 million over the past week to prioritize liquidity and fund preferred equity buybacks.
-Under the Hood Sell Pressure: On-chain data indicates fragile spot demand, as short-term holders deposited over 32,000 BTC to exchanges at a loss over a 24-hour window, potentially capping sudden upside movements.
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