The crypto market plunged over 5% in 24 hours, with Bitcoin slipping to a multi-week low of $113,164 and the total market cap falling to $3.7 trillion.
As prices decline, Eric Trump returns with another bullish tweet — and history suggests it might mean more volatility ahead.
Market Dips Hard — Altcoins Hit the Floor
Bitcoin is holding just above $113,000, down 1.5% on the day, while altcoins like Ethereum, XRP, Cardano, and Solana have each dropped between 2% and 4%.
The slide follows a combination of weak U.S. job data, increased macro uncertainty, and $115 million in net outflows from Bitcoin ETFs on Thursday — breaking a five-day inflow streak.
On August 1 alone, ETFs saw $812 million in outflows, underlining a sharp shift in investor sentiment.
Eric Trump Tweets — and the Market Reacts (Again)
Right as the market tumbled, Eric Trump tweeted: “₿uy the dips!!! $BTC $ETH.”
This isn’t the first time his tweet has stirred conversation — many in the crypto community believe his “dip calls” often precede further sell-offs before a recovery kicks in.
Analysts Expect Rebound After Short-Term Pain
Investor Ted Pillows believes the current correction could bottom out by Monday, with a recovery rally likely after that.
Analyst Michaël van de Poppe shares a similar outlook, saying August is likely to be a consolidation phase ahead of a bullish breakout in Q4.
There we go, we start correcting with the markets, which means that it's time to accumulate your next positions for the next run.
Perhaps August is a month of stabilization and we'll go back up later in the month for #Altcoins and #Bitcoin. pic.twitter.com/DMuPhkYeSS
— Michaël van de Poppe (@CryptoMichNL) August 1, 2025
Van de Poppe argues Bitcoin is entering a prime accumulation zone and is unlikely to drop below $108,000.
He identifies $114,700 and $116,800 as key resistance levels — once breached, they could fuel a strong rally into September.
📉 Bitcoin – Key Support & Resistance Levels
- 🟢 Support: $113,000 • $111,200 • $108,000
- 🔴 Resistance: $114,700 • $116,800 • $120,000
Bitcoin is currently trading near $113,750. A drop below $113K could test deeper support at $111K or even $108K. Breaking above $116,800 could signal renewed bullish momentum into Q3–Q4.
Short-Term Holders Are Selling
According to on-chain data from Glassnode, over 90% of Bitcoin supply has remained in profit for over a month — a sign of a strong cycle. But it also means more traders are likely to take profits.
In the past 24 hours, 85.5% of Bitcoin spent volume came from short-term holders.
That suggests the current sell-off is driven by newer investors, not long-term holders — a typical pattern in mid-cycle corrections.
Is This the End of the Bull Run?
Not necessarily. Historically, August has been a weak month for crypto markets, and analysts don’t see this drop as a trend reversal.
If market structure holds, most expect the next leg up to begin between late August and October.
Eric Trump’s timing may look off — but his message might still prove right.
Frequently Asked Questions (FAQ)
Why did Bitcoin drop to $113K?
The drop followed weak U.S. jobs data, rising geopolitical tensions, and $115 million in net ETF outflows. Short-term holders also contributed to selling pressure.
What does Eric Trump’s “Buy the dip” tweet mean?
Eric Trump’s tweet is seen as a bullish signal, though some traders joke it coincides with short-term dips. His message implies confidence in long-term crypto gains.
Will Bitcoin rebound soon?
Analysts expect Bitcoin to consolidate in August and possibly rebound by late August or September, especially if resistance at $116K is broken.
Disclosure:This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
Kriptoworld.com accepts no liability for any errors in the articles or for any financial loss resulting from incorrect information.
Cryptocurrency and Web3 expert, founder of Kriptoworld
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With years of experience covering the blockchain space, András delivers insightful reporting on DeFi, tokenization, altcoins, and crypto regulations shaping the digital economy.
📅 Published: August 2, 2025 • 🕓 Last updated: August 2, 2025
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