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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Bitcoin (BTC) is trading at $63,075.85 as of August 2, 2026, marking a minor 24-hour gain of roughly 0.19% while holding critical support above the $63,000 baseline.
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Bitcoin Insights Today
-Corporate Selling Pressure: Strategy's massive corporate footprint is driving sentiment following their multi-billion dollar swing into a net loss, alongside headlines regarding a potential $5 billion BTC liquidation structure to fund dividends.
-Wallet Exploits: The market is actively absorbing security headwinds after a Coldcard key exploit resulted in attackers taking control of roughly 1,366 BTC, bringing total linked losses near $89 million.
-Regulatory Interventions: Institutional adoption faces a brief speedbump as the SEC paused Nasdaq's approval of QBTC Bitcoin options following a CME Group legal challenge.
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