Bulls Lose Grip: Bitcoin Fails $115K and Markets Turn Cautious

After seemingly fending off the bears and looking ready to regain control of the market, the bulls slipped, allowing bearish pressure to return. Bitcoin failed to sustain a move back above $115k and fell to key support around $112k. Altcoins followed with a sea of red across the board, with several wiping out the gains made on Monday after another red session yesterday.

This was not just a crypto pullback. Traditional risk-on markets also slipped, with the S&P 500 and Nasdaq both closing lower. Gold, the classic risk-off asset, logged its fourth consecutive green day, signalling a slight rotation out of risk. Corporate earnings added to the cautious tone, with some companies missing expectations. Super Micro Computer, for example, fell over 16% after weaker-than-expected Q2 2025 earnings. Outside of earnings and a modest risk-off shift, there were no major announcements on tariffs or geopolitical events likely to drive markets lower. In fact, reports suggest Russia is weighing potential concessions to Trump, including a possible air truce.

Stormrake Spotlight: Hedera (HBAR) ($0.237)

HBAR was among the altcoins to erase Monday’s gains, losing nearly 5% yesterday and dropping back below the 21 EMA. The structure is now under threat, with bears set to gain control if HBAR falls below $0.225. A break of that level would confirm a bearish market structure.

BTC/USD Key Levels and Price Action:

Bitcoin saw a sharp drop around midnight to a low of $112.5k before bouncing in a reversal, now attempting to reclaim two key moving averages. Overall momentum remains bearish, but last night’s low was a higher low compared with earlier in the month, which is a positive sign for bulls. A move above $115.7k would flip the short-term structure back to bullish.

BTC Total ETF Flows for 5 Aug: $ - 19.7 million

*All prices are denominated in USD unless stated otherwise*

Written by Alexandar Artis

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