Bitcoin experienced a notable decline over the course of several days in August 2025, falling from a high near $124,000 to below $113,000. The cryptocurrency dipped as low as $112,566 amid a broader crypto selloff, marking a decrease of approximately 7.7% from its peak the previous week. Market participants observed Bitcoin testing key support levels around $113,000 and $112,000, with some analysts questioning whether the price would rebound or continue to fall, including speculation about a potential drop below $110,000 or even $100,000. Concurrently, Ethereum showed signs of testing and bouncing off its exponential moving average (EMA) on multiple timeframes, including 1-hour, 4-hour, and daily charts. Ethereum was attempting to confirm reversal patterns and maintain support levels near 4208, with technical indicators suggesting possible upward momentum. Despite these efforts, Bitcoin struggled to hold above critical support zones, leading to concerns about the potential for a deeper correction or bear market conditions. Analysts highlighted the need for stronger confirmations on lower timeframes and bullish signals such as a flip on the Neo Cloud indicator to build conviction for a sustained recovery.