The month of August has historically been a bearish one for Bitcoin, and is already off to a choppy start.
Bitcoin will likely need to hold above the $110,000 support level to get a chance at retesting its all-time high, according to an analyst, as Bitcoin fell 5% over the weekend.
Bitcoin fell from about $118,330 on Friday, dropping to $112,300 on Sunday, a bearish start to a historically bad month for Bitcoin.
“A lot will depend on how risk sentiment holds together after Friday’s dire [US] jobs report and new tariff developments,” IG markets analyst Tony Sycamore told Cointelegraph on Monday as Bitcoin reclaimed $114,800.
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