Bitcoin stabilizes near $115,000 as altcoins surge 5.5% in market rebound
Bitcoin’s price stabilized near $115,000 following a volatile week marked by a sharp decline due to hawkish comments from the Federal Open Market Committee (FOMC) and a shift in global risk sentiment [1]. The cryptocurrency initially hit a two-week low of around $112,000 before showing signs of recovery [1]. However, it has yet to reclaim the critical $115,000 support level. Meanwhile, the broader crypto market saw a modest rebound, with the total market cap rising over 1% to $3.84 trillion during late Asian trading hours [1]. Market sentiment returned to a “greed” territory from “neutral,” reflecting a slight restoration of investor confidence [1].
Altcoins outperformed Bitcoin in the market’s rebound, with the total altcoin market capitalization surging 5.5% in the past 24 hours [1]. Leading altcoins such as MemeCore (M) and Mantle (MNT) posted standout gains, with M rising nearly 30% and MNT climbing 14.3%. Ethereum (ETH) also rallied 5.4% to reclaim the $3,600 level, a key technical support that analysts view as crucial for sustaining upward momentum [1].
The recovery came despite a notable outflow of $404 million from cryptocurrency investment products in the week, ending a 15-week streak of inflows [1]. Analysts attributed the shift to FOMC’s hawkish remarks and stronger-than-expected US economic data. Fed Chair Jerome Powell’s comments further reduced the probability of a September rate cut to 40% from 63% before the meeting [1].
Swissblock noted that Bitcoin has entered a consolidation phase, with bearish pressure fading and upside momentum expected to return after a period of subdued trading [1]. Similarly, CryptoQuant’s Maarten Regterschot expects Bitcoin to avoid breaking below $112,000 and suggested the market is digesting gains rather than entering a new downtrend [1].
Long-term demand indicators remain positive, with accumulation wallets adding 50,000 BTC in the past month and OTC desk holdings reaching over 500,000 BTC [1]. Institutional and long-term investors continue to view current price levels as attractive buying opportunities, according to market analysts [1].
Looking ahead, market observers are closely watching how the Fed interprets asset price corrections, particularly in equities, as a signal of broader economic stress [1]. If the Fed follows a similar path as in Q3 2024 by cutting rates in response to weak labor data, Bitcoin could benefit from a renewed risk-on environment [1].
In the short term, Bitcoin bulls are focusing on the $115,000 support level. A successful reclaim could reinforce the ongoing recovery, but analysts caution that a major upward move is unlikely without a significant macroeconomic catalyst [1].
Source:
[1] https://invezz.com/news/2025/08/04/bitcoin-price-stabilises-near-115k-as-m-and-mnt-lead-altcoin-recovery-today/
