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Bitcoin and Ethereum have recently shown signs of a rebound, injecting a bit of warmth into the Crypto Assets market. Bitcoin began its rebound after hitting a low of 111,920, and is currently experiencing an hourly pump, expected to target the range of 116,000 to 117,000. If it can break through the key level of 117,500, it may end the current 4-hour pullback; otherwise, it may fall back to the range of 111,000 to 112,000. In the short term, as long as it doesn't fall below 112,300, Bitcoin is still expected to break through 116,000.
At the same time, Ethereum has started to rebound after hitting a low of 3,354, with target price levels between 3,600 and 3,700. If it cannot break through 3,740, it is likely to fall back to around 3,300 or 3,260 again, followed by a potential upward movement at the 4-hour level, aiming to challenge the 4,000 mark. It is worth noting that institutional investors have been active recently, buying a large amount of Ethereum, with over 1 million ETH flowing out of exchanges, indicating investors' optimistic expectations for the market in August. Compared to last year, the current market environment is more favorable, and the likelihood of a continued decline is lower.
From the trend of various periods, the weekly and daily charts still maintain an upward trend, with the daily target price between 120,000 and 130,000. Although the 4-hour level is still in a downward trend, breaking through 117,500 will be an important turning point. Both the 1-hour and 15-minute levels show an upward trend, and there may be a pullback in the short term, but the long-term outlook remains bullish.
In the current market situation, investors should maintain a cautiously optimistic attitude. Although fluctuations may occur in the short term, the overall trend remains positive. The active entry of institutional investors has also injected confidence into the market, but investors still need to closely monitor market changes and manage risks effectively.