btcfall

In the past 24 hours, Bitcoin (BTC) experienced significant volatility, dropping to around $112,000 before rebounding to $114,000. This movement followed weaker-than-expected U.S. ISM Services PMI data for July, which came in at 50.1 compared to forecasts of 51.5, signaling a slowdown in service sector growth and triggering risk-off sentiment across both crypto and traditional markets. The soft economic data added to a three-month pattern of waning economic strength, with rising cost pressures also noted by analysts.
Bitcoin is currently trading roughly 7% below its all-time high, with recent lows attributed to profit-taking by long-term holders and capitulation from short-term investors. Additional pressure has come from modest ETF outflows and global macroeconomic uncertainty, as well as policy indecision by the U.S. Federal Reserve. Key support levels are identified in the $110,000-$112,000 range, while continued consolidation above $100,000 is seen as maintaining the broader bullish trend.
Despite near-term volatility, Tom Lee, managing partner at Fundstrat, remains highly bullish on Bitcoin’s longer-term prospects. Lee projects a possible year-end price between $200,000 and $250,000, building on the historical post-halving cycle rallies, increasing institutional participation, and potential for wider adoption. He cites the fixed supply of Bitcoin, growing demand, and a shifting U.S. regulatory landscape as major catalysts. Lee also emphasizes that the current phase is typical market consolidation following a record-setting rally, with further upside seen as likely if macro conditions stabilize or improve.
In summary:
BTC hit a recent low near $112,000, recovering to $114,000 after disappointing ISM Services PMI data.Selling from long-term holders and outflows from ETFs contributed to the dip.Key support is holding above $110,000–$112,000; consolidation above $100,000 keeps the bullish long-term outlook intact.Tom Lee remains optimistic, predicting a move to $200,000–$250,000 by year-end if macro and regulatory conditions align.
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Paradex, a decentralized perpetual futures exchange, confirmed it rolled back its application-specific blockchain to a prior state following a technical glitch that caused Bitcoin's price to erroneously drop to $0 on the platform, triggering mass liquidations. The exchange has since resumed trading, assuring users that all funds are safe.
📍Incident Overview
▪︎ Cause: The glitch stemmed from a faulty database migration during scheduled maintenance on January 19, 2026.
I▪︎ mpact: The error caused incorrect pricing data, leading to a cascade of automated liquidations as trading algorithms reacted to the zero price feed.
▪︎ Response: Paradex halted services for approximately eight hours and rolled back the chain state to block 1,604,710, which was the last known correct state before the maintenance began. This action effectively reversed all trades and liquidations that occurred during the outage.
▪︎ Mitigation: All open orders were force-canceled, except for take-profit/stop-loss (TPSL) orders, as part of the recovery process.
🔻Key Insights
▪︎ User funds are reportedly safe, and accounts were restored to their status prior to the maintenance.
▪︎ The incident has rekindled debate within the crypto community regarding the use of blockchain rollbacks, a controversial measure that challenges the core principle of blockchain immutability.
▪︎ The native Starknet token (STRK) saw its price fall by approximately 3.6% in the aftermath of the incident, reflecting broader ecosystem concerns.
▪︎ Paradex, which operates as a layer-2 application chain on Starknet, is a significant player in the perpetual DEX market, with over $37 billion in 30-day trading volume.
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