Bitcoin weekly market update, 4 August 2025

Bitcoin pulled back, but closed the week well above its recent breakout level. Conservative price target still at $142k.

In tradfi, last week stock markets had a good start of the week. Then came Wednesday, and the US Fed announced that there would be no July rate cut. This was no surprise at all, and the markets didn’t react much. What they did react to was the following press conference, where chairman Powell refused to give any promises of a September cut. This should have come as no surprise either, as Powell has repeated over and over and again and again that they will always follow the data. But still, the markets were apparently somewhat disappointed, and sold off a little.

However, the bigger sell off came on Thursday and Friday, as Trump announced a new barrage of tariffs that got everybody spooked, and as job number revisions came in much larger than expected. If we take a step back and look at the bigger picture though, so far this pull back is not large, and it could well turn into a normal correction in a strong uptrend.

Turning to bitcoin, despite following the rest of the market down, it closed the week at $114k, still sitting well above the breakout point at $109k. The breakout has not been invalidated, and the conservative price target remains at $142k. So with that in mind, it’s much too early to call any tops.

Let’s see what the stock markets do this week in response to last week’s news about tariffs and jobs. But for now, a mindset of patience and buy-the-dip seems the most rational.

BTC/USD weekly chart, 4 August 2025. Pulled back and closed the week at $114k, still well above the breakout level of $109k. Price target $142k.

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