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The Bitcoin price dipped 1.1% in the last 24 hours to trade at $112,254 as of 8:33 p.m. EST on a 51% plunge in trading volume to $31 billion.
This drop in the BTC price comes as Eric Trump, son of US President Donald Trump, encourages investors to buy the dip during the market’s sharp swings.
Let me say it again:
₿uy the dips!!! $BTC $ETH https://t.co/VSOvTgnlOT
— Eric Trump (@EricTrump) August 2, 2025
Will Bitcoin fall further, or will Eric Trump prove right to advise investors to buy the dip?
Bitcoin Price Holds Key Support – Is This A Good Time To Buy the Dip?
The BTC/USD daily chart shows that Bitcoin spiked to $122,054 in early July but has since pulled back to $112,998. It recently hit a one-month low of $112,104 but is now holding just above the 50-day SMA at $111,995, which is acting as strong support.
The 200-day SMA is much lower at $99,260, suggesting the long-term trend remains bullish. If Bitcoin stays above $112,000, it could bounce back toward the $122,000 level. Relative Strength Index (RSI) at 39.41 is flirting with oversold territory, indicating that it may be time to load up those bags if you are a dip buyer like Eric Trump suggests.
Meanwhile the Moving Average Convergence Divergence (MACD) shows a recent bearish crossover, hinting at some short-term momentum loss.
BTCUSDT Analysis Source: Tradingview
However, the Average Directional Index (ADX) is at 21.91, which is below 25, confirming the trend has lost steam, so don’t expect a wild breakout just yet. BTC could enter into a short-lived consolidation around this level before picking a direction.
What’s Next For The Bitcoin Price?
That purple-shaded resistance zone between $112,622 and $122,093 is the next big test. If BTC price breaks through with volume, we’re talking a potential run to $129,319, or beyond.
Conversely, if it fails, watch for a drop to the $100,000-$103,000 range, where the 200-day SMA might catch it.
The recent candlestick action shows a sharp move upward followed by a pullback, forming a classic consolidation pattern. Trading volume is also down over 50%, hinting at panic selling.
But Bitcoin could bounce back if buyers return. Eric Trump’s “buy the dip” message might trigger FOMO, possibly pushing the price toward $120,000 by mid-August. If the $112,000 support breaks, BTC could fall further to around $103,000.
Bitcoin Hyper (HYPER) Presale Races Toward $7M – Next Big Crypto?
As the Bitcoin price wavers, investors are flocking to a new BTC Layer 2 project called Bitcoin Hyper (HYPER) that will make the king of crypto’s ecosystem faster, cheaper, and more useful.
With over $6.6 million raised in its presale already, investors are backing it big time.
The protocol works by building a second layer on top of Bitcoin’s blockchain that uses the Solana Virtual Machine (SVM). If Bitcoin’s like a reliable old truck, HYPER is the turbo engine that makes it zoom.
🚨 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
The SVM lets it process thousands of transactions per second, which is way beyond Bitcoin’s sluggish 7. This means you could use Bitcoin for everyday stuff like buying coffee or trading NFTs without waiting forever or paying exorbitant fees.
There is also a decentralized Canonical Bridge that makes the whole process seamless. Users just deposit their BTC, get “wrapped” tokens for the Layer-2 network, and cash out whenever they want.
Buy HYPER Now For A 10x Opportunity
An analyst from 99Bitcoins, a crypto YouTube channel with over 723,000 subscribers, predicts HYPER could soar 10x after it launches.
HYPER tokens are selling for $0.0125 right now, and investors can buy them using ETH, USDT, BNB, or a credit card.
There’s also a staking option offering a 160% annual return. It’s best to stake tokens early because the rate drops as more people join.
Interested investors have less than 8 hours before the next price hike.
Check out at the Bitcoin Hyper website.
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