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Market Overview - The cryptocurrency market has been experiencing a downward trend since July 31, with Bitcoin briefly falling below $112,000 [3][5] - As of the latest report, Bitcoin is priced at approximately $112,526.3 [3] - Over the past 24 hours, more than 110,000 traders have been liquidated, with a total liquidation amount of $369 million, including $310 million from long positions and $58.2 million from short positions [6][7] Price Movements - Other cryptocurrencies have also seen declines, with Ethereum, Dogecoin, and BNB dropping over 3%, and Dogecoin experiencing a 19% decline over the past week [5] - Bitcoin's market dominance has been increasing, reaching an average of 59.3% in 2025, marking a continuous rise for three years [10] Institutional Activity - Trump Media & Technology Group has accumulated approximately $2 billion in Bitcoin, making it one of the largest publicly traded companies in terms of Bitcoin holdings [10] - The company's financial assets have grown to about $3.1 billion, a year-on-year increase of approximately 800% [10] Economic Context - Recent U.S. non-farm payroll data has significantly underperformed expectations, indicating a deteriorating labor market and increasing bets on a potential interest rate cut by the Federal Reserve in September [8] - This economic backdrop has heightened market risk aversion, impacting cryptocurrency trading sentiment [8] Technical Analysis - Analysts suggest that Bitcoin is currently in a consolidation phase, with $115,000 identified as a key support level. A drop below $114,000 could test support levels between $111,000 and $112,500 [10] - Long-term holders currently control 53% of Bitcoin's supply, indicating a need for new capital inflows to support prices amid potential selling pressure [10]