Cryptocurrency
Bitcoin price august 2022: What happens to Bitcoin this week

How much is Bitcoin price right now? On August 1, Bitcoin was trading at $23.4 thousand and the first cryptocurrency gained 6% last week. Let’s analyze the market situation and tell what dynamics to expect in the short term.
What will be Bitcoin price in August 2022?
The week from July 25 to July 31 began with a decline in the BTC/USDt pair. Crypto-assets with U.S. stocks fell in price before the U.S. Federal Reserve meeting (July 27). Investors were closing long positions in anticipation of an aggressive rate hike by the Fed.
Bitcoin prices were down to $20.7K on July 26. Many believe that the Bitcoin price bottom has passed. The weekly low was formed on the background of falling U.S. stock indices, as well as a strengthening of the U.S. dollar. The S&P500 index fell 0.85%, while the Nasdaq fell 1.87%.
The stock market came under pressure after Walmart Inc. cut its profit forecast and the IMF warned of a possible sharp slowdown in global growth. The dollar, in turn, rose in price due to the collapse of the single currency amid the energy crisis (gas price rally).
On July 27, a new phase of Bitcoin strengthening began. The growth in quotations resumed after the stock indices after the U.S. Federal Reserve meeting. The BTC/USDt pair recovered by 7.99%, to $22.9 thousand.
At the end of the two-day meeting, the Fed raised the rate by 0.75%, to 2.50%. During the press conference, the head of the Fed said that it is possible to increase the key rate by more than 0.75pc in the future, but the decision will depend on incoming data.
What else could affect crypto Bitcoin prices?
Risk appetite increased on the statements of J. Powell, who did not recognize the recession in the U.S.. At the same time, fresh statistics confirmed the technical recession with two negative quarterly values. The United States economy contracted by 0,9% on an annualized basis against the forecast of 0,5% and -1,6% for the 1st quarter.
- Yellen, J. Powell and the White House deny a recession in the United States. They call the disappointing GDP data a necessary slowdown in the economy before future growth. They have inflation fighting as a priority, so the economy can be sacrificed in a strong labor market.
Yellen said that the U.S. economy is entering a new phase focused on sustained and stable growth. The word “recession” will soon be forbidden to utter in the U.S., and journalists, economists and analysts who use it will be subject to sanctions and fines.
Stock indices and cryptocurrency reacted to the American statistics by falling; then growth resumed with renewed vigor. Investors believed that the Fed will not aggressively raise rates in November with the slowing economy. Bitcoin rate went up to $24.4 thousand.
Bitcoin price August 2022 – what events will affect growth?
On July 29, stocks continued their rally after the U.S. Central Bank raised the rate to 2.5% in an attempt to curb high inflation. The BTC/USDt pair rose to $24.1k. The growth stalled, though buyers have a path to the $28-30k zone. The upward movement may continue on Sunday. Buyers will be closing the monthly candlestick. Bitcoin was up 22.87% in July and ether was up 61.39%.
The uptrend comes in small impulses of 5-6 hours and corrections of 10-13 hours. When the correction lasts more than 40 hours, buyers get nervous and close long positions in anticipation of a correction.
The big macro data coming out on Monday and Wednesday is the July manufacturing and service sector data. Friday will bring investors’ attention to Non-farm Payrolls data on the labor market in the U.S. Better data will push stocks and cryptocurrencies higher.
In the new week from August 1 to 7, investors will be watching the dynamics of ether. If buyers pass the key resistance of $1.8 thousand, a new wave of altcoin purchases will begin at the crypto market.
Bitcoin price prediction – Growth: a plausible scenario
Bitcoin might easily jump to $26K if the bulls have enough strength to overcome bearish pressure. Yesterday’s speech by Jerome Powell gave hope to market participants that such steep key rate hikes at the next meeting are unlikely, which means that capital will stop flowing away from high-risk assets to low-risk ones, such as bonds.
At the same time, inflation remains at a high level. In such an environment, investors can use high-risk instruments, which include cryptocurrencies. They may invest some capital in Bitcoin.
Bitcoin’s rise this week seems a likely scenario. At the same time, a negative scenario cannot be ruled out, in which all the gains Bitcoin has made in the last 24 hours will be lost due to investors’ fear of rising consumer prices.
Cryptocurrency
Metaplanet and K33 Deepen Bitcoin (BTC) Exposure With Strategic Initiatives

In a strategic move to accelerate its Bitcoin acquisition goals, Japan-based Metaplanet issued $21 million in interest-free bonds to the Evo Fund on May 29, following a separate $50 million raise the previous day. These zero-coupon bonds, known as the 17th series, come with a $525,000 face value and are set to mature on November 28, 2025.
As they bear no interest, Metaplanet avoids additional financial costs tied to borrowing.
Metaplanet Adds to Bitcoin Warchest
According to the official document, the terms allow Evo Fund to initiate early redemptions with a five-day notice, either in full or in multiples of $525,000. Additionally, redemptions may be linked to future funding rounds with the same investor.
The bonds are unsecured, with no guarantees or administrators, which is in line with Japanese corporate law. Payment processing will take place at the company’s Tokyo office.
This fundraising effort contributes to Metaplanet’s larger goal of amassing 10,000 BTC by the end of 2025. Year-to-date, the company has raised $135.2 million, including previous rounds in February ($25.9 million), March ($13.3 million), and earlier in May ($25 million).
Currently holding approximately 7,800 BTC, worth around $840 million, Metaplanet ranks 11th among global corporate Bitcoin holders, with an average purchase price of $91,340 per BTC. In March, it used cash-secured put options to acquire 696 BTC, followed by an additional 145 BTC in April for $13.6 million.
Metaplanet isn’t the only company doubling down on Bitcoin. In Scandinavia, K33 is taking a similar approach.
K33 Joins Corporate Bitcoin Trend
K33, the Oslo-based cryptocurrency brokerage company, announced plans to begin holding Bitcoin on its balance sheet after raising 60 million SEK ($6.22 million). As per the announcement on May 28th, the funding was secured via interest-free convertible loans and a new round of share and warrant issuances.
The Norwegian firm confirmed that 100% of the funds will be used to buy Bitcoin, possibly acquiring up to 57 BTC at current prices. The firm secured 45 million SEK ($4.66 million) through loans maturing in June 2028, and 15 million SEK ($1.5 million) via equity and warrants. Investors converting their warrants before March 2026 will be granted additional free warrants, which would potentially allow K33 to raise a total of 75 million SEK ($7.77 million).
In its Q1 financial update, CEO Bull Jenssen said K33 is partnering with other Nordic Bitcoin treasury firms and intends to leverage its holdings to create Bitcoin-based services, including collateralized lending.
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Cryptocurrency
Crypto Markets Shed $200B in 48 Hours as Bitcoin Dumps to 12-Day Low (Weekend Watch)

Perhaps driven by the latest escalation of tensions between the US and China, bitcoin’s price has tumbled over the past 12 hours to a multi-week low of $103,000.
The altcoins have it even worse, with massive price drops from the likes of SUI, LINK, DOGE, SOL, ADA, and more. CRO has defied the market-wide trend with a double-digit price surge.
BTC Dumps to $103K
Ever since it skyrocketed to almost $112,000 last Thursday to chart a new all-time high, bitcoin’s price has been unable to recapture or even sustain its momentum. It started to fall on the next day when US President Trump recommended a new set of tariffs against the EU.
Although he delayed their implementation for over a month, BTC failed to bounce off decisively and was stopped at around $110,000 on a couple of occasions. The latest rejection, which came on Thursday at $109,000, was the worst one (for now) as it drove BTC down to $105,000.
It recovered some ground to $106,000 yesterday, but the bears reemerged and pushed the cryptocurrency south to a 12-day low of just over $103,000. This decline transpired after Trump said China “violated” the trade agreement between the two, while Beijing responded kindly.
Although BTC has regained some ground and now sits above $103,500, its market cap has slid to $2.06 trillion on CG, while its dominance over the alts has shot up to 61.3%.
Alts Bleed Out, Not CRO
The alternative coins have marked some big losses over the past day. Ethereum is close to breaking below $2,500 after a 4.5% drop. XRP has plunged beneath $2.15, while DOGE, SOL, ADA, SUI, LINK, and AVAX have plummeted by up to 9%.
The situation with the lower-cap alts is even more painful, as many, such as ENA, INJ, VIRTUAL, and PEPE, have charted double-digit price declines.
CRO is the only exception, having gained 17% in the past day and trading close to $0.11.
The total crypto market cap has seen roughly $200 billion gone in the past two days and is down to $3.360 trillion.
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Cryptocurrency
Ethereum Price Analysis: Is ETH Dumping to $2K Next as Momentum Fades?

ETH continues to consolidate beneath a key resistance level around $2,800, struggling to break higher after a strong rally earlier in May.
While the bulls have held higher lows in the short term, repeated rejection from the same level raises questions about buyer conviction at these highs.
Technical Analysis
The Daily Chart
Ethereum is currently consolidating below the major resistance at $2,800, which aligns with the 200-day moving average. The uptrend that began near $1,500 has paused, and the RSI has slightly dropped below 70, reflecting weakening bullish momentum.
Despite this, the price remains above the 100-day MA and the previous breakout zone near $2,200, indicating structure remains bullish unless those levels are lost. A clean breakout above $2,800 would open the path toward the $3,400–$3,600 supply zone. On the other hand, failure to do so could trigger a retest of the $2,200 demand block.
The 4-Hour Chart
The 4H chart shows that the price has formed a clear ascending triangle between the $2,800 resistance and roughly $2,500 support. The structure resembles a potential distribution phase following two strong accumulation zones below $1,850 earlier this month. While ETH continues to set higher lows, the repeated rejection at the highs is starting to weigh on the short-term outlook.
The RSI is also hovering near 47, suggesting a neutral momentum shift. A break below $2,500 and the lower boundary of the pattern would signal bearish reversal toward $2,100, while a confirmed breakout above $2,800 would invalidate the distribution idea and favor upside expansion.
Sentiment Analysis
The Coinbase Premium Index is currently holding slightly above zero, indicating moderate spot demand from US-based investors. Historically, a rising premium has often preceded strong bullish trends driven by institutional or high-volume retail buyers on Coinbase. Although the current levels are not aggressively high, they reflect underlying strength in the spot market and a willingness to pay slightly more for ETH on U.S. exchanges.
If this premium begins expanding while ETH approaches resistance again, it could signal renewed confidence and front-running of a breakout. On the other hand, if the premium fades or turns negative, it may signal waning interest and a possible short-term top, which is the scenario that is seemingly occurring at the moment.
Therefore, if the demand from the US declines, it would be highly likely for ETH to go into a correction phase once more.
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Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.
Cryptocurrency charts by TradingView.
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