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06.08.202509:14 Forex Analysis & Reviews: Trading Recommendations for the Cryptocurrency Market on August 6

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Bitcoin continues to trade within a new sideways channel, and its inability to hold above $115,000 indicates a high likelihood of continued correction. Another decline toward the $112,000 level may lead to a more active sell-off toward $110,000 and $105,000 in the coming days.

Exchange Rates 06.08.2025 analysis

Meanwhile, according to the latest data, public companies now hold 917,648 BTC — representing 4.61% of the total supply. This significant volume of cryptocurrency in the hands of public companies signals growing institutional interest in digital assets and their potential role in long-term investment strategies. Bitcoin ownership is no longer just a speculative investment but is becoming part of a broader asset diversification strategy for large corporations. This reflects confidence in the long-term potential of cryptocurrency and its ability to retain value amid economic instability.

Many small companies are following the lead of corporate giants and are also acquiring cryptocurrencies for their balance sheets — though most of them prefer Ethereum.

This active involvement by major corporations also raises concerns. The growing share of Bitcoin concentrated in the hands of public companies could affect market volatility. Larger players tend to make more balanced and long-term investment decisions, which could potentially reduce the sharp price swings typical of the crypto market. However, the concentration of such a significant amount of Bitcoin in the hands of a limited number of companies poses certain risks. Any major sales or changes in these companies' investment strategies could have a significant impact on the market and lead to unpredictable consequences.

Notably, almost 3% of all BTC is held by a single company — Strategy #MSTR.

As for intraday strategy on the cryptocurrency market, I will continue to act based on any large dips in Bitcoin and Ethereum, expecting the bullish market to remain in place in the medium term.

Regarding short-term trading, the strategy and conditions are outlined below.

Exchange Rates 06.08.2025 analysis

Bitcoin

Buy Scenario

Scenario #1: I plan to buy Bitcoin today at the entry point near $114,400, targeting growth toward $115,500. Around $115,500 I will exit the long position and sell immediately on the bounce. Before buying on a breakout, make sure the 50-day moving average is below the current price and the Awesome Oscillator is in the positive zone.

Scenario #2: Buying is also possible from the lower boundary at $113,700, provided there is no market reaction to its breakout, with targets at $114,400 and $115,500.

Sell Scenario

Scenario #1: I plan to sell Bitcoin today at the entry point near $113,700, targeting a decline toward $112,600. Around $112,600 I will exit the short position and buy immediately on the bounce. Before selling on a breakout, make sure the 50-day moving average is above the current price and the Awesome Oscillator is in the negative zone.

Scenario #2: Selling is also possible from the upper boundary at $114,400, provided there is no market reaction to its breakout, with targets at $113,700 and $112,600.

Exchange Rates 06.08.2025 analysis

Ethereum

Buy Scenario

Scenario #1: I plan to buy Ethereum today at the entry point near $3,663, targeting growth toward $3,748. Around $3,748 I will exit the long position and sell immediately on the bounce. Before buying on a breakout, make sure the 50-day moving average is below the current price and the Awesome Oscillator is in the positive zone.

Scenario #2: Buying is also possible from the lower boundary at $3,607, provided there is no market reaction to its breakout, with targets at $3,663 and $3,748.

Sell Scenario

Scenario #1: I plan to sell Ethereum today at the entry point near $3,607, targeting a decline toward $3,527. Around $3,527 I will exit the short position and buy immediately on the bounce. Before selling on a breakout, make sure the 50-day moving average is above the current price and the Awesome Oscillator is in the negative zone.

Scenario #2: Selling is also possible from the upper boundary at $3,663, provided there is no market reaction to its breakout, with targets at $3,607 and $3,527.

Miroslaw Bawulski
Analytical expert of InstaForex
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