Bitcoin started August in a bearish mood, amid market attention focused on recent U.S. Federal Reserve interest rate guidance and Kamala Harris' rising chances against her pro-crypto opponent Donald Trump in the U.S. presidential election. The reaction of the BTC price was similar to its previous reactions to the Fed's rate decisions in 2024.

Technically, as we noted two days ago, the continued decline has led the quotes to the local support zone around the levels of $63000-62000. Further decline will be possible if this zone is overcome and the price will be firmly anchored under it. In this case, the decline will be able to continue to the lower limit of the range, to the levels of $58,000 and below.

Additionally, we remind you that tomorrow the market expects data on the US labor market, the publication of which may affect the volatility of quotations.