Bitunix Analyst: The outlook for the US-India trade agreement is unclear, with BTC 118,000 forming short-term support and 120,000 still being a resistance level.

BlockBeats news, on July 29, U.S. Trade Representative Tai stated that the U.S. and India need to conduct more negotiations before the August 1 tariff deadline, maintaining a reserved attitude on whether an agreement can be reached. Although India previously showed a willingness to open zero tariffs on some goods, core industries such as agriculture and dairy still set red lines. If trade frictions escalate, it may affect global market risk sentiment. In the crypto market, BTC price rebounded after multiple tests of 117,400 yesterday, currently fluctuating in the range of 118,000–120,000. Bitunix analysts suggest: the deadlock in U.S.-India negotiations adds risk aversion demand, BTC still has support in the short-term, but the upward momentum is limited. Investors are advised to follow support around 118,000 and strictly control stop loss; if the price cannot effectively break through 120,000, it is recommended to avoid chasing the price, and wait for a pullback to re-enter. Short-term traders should closely monitor macro news and changes in the liquidation heatmap.