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The Bitcoin price tumbled 1.8% in the last 24 hours to trade below $113,000 as of 11:43 p.m. EST on a 10% surge in trading volume to $57 billion.
This BTC price dip came after US President Donald Trump fired the head of the Bureau of Labor Statistics Erika McEntarfer after a weaker-than-expected jobs report.
“Today’s jobs numbers were RIGGED in order to make the Republicans, and ME, look bad,” Trump said, without citing any evidence. “Important numbers like this must be fair and accurate, they can’t be manipulated for political purposes.”
The US added just 73,000 jobs last month, while job gains for May and June were revised down by a stunning 258,000 combined.
Trump has fired the labor chief for "giving him bad job numbers." The psycho dictator is destroying everyone who gives him bad news.
Pray for his scale, and mirror. pic.twitter.com/q8Eo2fmU9z
— 💙🌊 Zero Dark Twenty-Nine 🌊🌊🖋️🧫 (@herotimeszero) August 1, 2025
The poor jobs data came after Trump on Thursday slapped trade tariffs on nations across the world. Stocks tumbled on the double whammy, with the S&P 500 ending Friday down 1.6% and the Nasdaq Composite dropping 2.2%.
U.S. President Donald Trump on Thursday stateside rejigged the so-called “reciprocal” tariff rates for several countries, ahead of the Friday deadline announced earlier.
Read Lim Hui Jie’s article for more: https://t.co/qCWVoxecjp pic.twitter.com/KKZlR7Rvs5
— CNBC International (@CNBCi) August 1, 2025
Bitcoin Price Drops Below $113,000, But Here’s A Key Level To Watch
The BTC/USD chart paints a vivid picture. The 1-day candlestick setup shows the price action is straight-up bullish, but about to turn bearish. The chart shows BTC trading at $113,805, up a modest 0.5%. But don’t let that fool you; there’s more to the story.
The chart shows a rising channel pattern from which BTC price broke to the downside on August 1 — Bearish. The main support zone now is around $110,000-$111,000. That’s where the bulls might try to flex and hold the line.
Meanwhile, the upper resistance hovers near $121,000, and a break above could signal a comeback. The 50-day Simple Moving Average (SMA) is trending upward, suggesting some underlying strength, but the recent red candles in the five days are a red flag.
BTCUSDT Analysis Source: Tradingview
Trump’s tariff tweaks are throwing a curveball at global trade, and weak jobs numbers are spooking investors. Historically, BTC thrives on uncertainty, but this time, it’s playing defense. If the bearish pressure keeps stacking, we could see BTC testing that $110,000 support.
Can $110,000 Key Support Prevent Further Losses?
A drop below that could send BTC price back into a range between $100,000 and $110,000, where the next big support lies around $99,000 – $100,000. Conversely, if the market shakes off this funk and Trump’s policies spark a risk-on vibe, BTC could rip past $121,000 and aim for $137,000 in the short term.
The Relative Strength Index (RSI) at 43.80 shows we’re not oversold yet, leaving room for more downside before a potential reversal while the Moving Average Convergence Divergence (MACD) is outright bearish, with the MACD line dipping way below the signal line, hinting more trouble ahead.
In the next week, expect volatility to spike as markets digest the tariff news and jobs data. BTC price could hover between $105,000 and $121,000, with a lean toward the lower end unless some bullish catalyst drops.
Bitcoin Hyper: The New Crypto Making Waves in Bitcoin’s Ecosystem
As the Bitcoin price struggles, investors are piling into a new project called Bitcoin Hyper (HYPER), which is nearing $6.5 million in funds raised in its presale.
Bitcoin is the most well-known crypto, but it’s not the fastest and fees can be high. That’s where Bitcoin Hyper steps in.
Bitcoin Hyper is a Layer-2 project built to make Bitcoin faster, cheaper, and more useful. It runs on the Solana Virtual Machine (SVM), which can handle thousands of transactions per second, much faster than Bitcoin’s 7 per second.
🚨 Bitcoin Hyper is now live in Best Wallet! 🚨@BTC_Hyper2 is building Bitcoin’s first Layer 2 focused on real scalability — enabling fast, cheap BTC transactions, meme coins, dApps, and more.
It’s secured by Bitcoin L1 and powered by Solana VM tech for high speed and massive… pic.twitter.com/5Ktj12RCR1
— Best Wallet (@BestWalletHQ) June 5, 2025
Bitcoin Hyper lets you send Bitcoin worldwide in seconds and at a much lower cost. It will also bring Bitcoin into the world of dApps, DeFi, and even meme coins in 2025.
It uses a decentralized Canonical Bridge that locks your Bitcoin and gives you wrapped tokens on its Layer-2 network. You can then trade, stake, or use dApps quickly and securely. When you’re done, burn the wrapped tokens to get your Bitcoin back.
Crypto YouTuber TodayTrader, with more than 13K followers, says HYPER could help early investors become crypto millionaires in 2025.
HYPER has a total supply of 21 billion tokens, with 30% reserved for development to keep the team actively building and innovating.
Investors can stake their tokens for a huge 163% annual return.
Each token is currently priced at $0.0125, and you can grab yours using ETH, USDT, BNB, or a credit card through the project’s website.
Buy before a price hike in less than 35 hours to secure the best deal.
Visit the Bitcoin Hyper website.
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