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Bitcoin drops to $115,600 after hitting a new high of $123K in July 2025.
Strong institutional demand and ETFs continue to support BTC’s long-term outlook.
Key support at $113,500; reclaiming $118K may trigger a bullish reversal.
Bitcoin is trading at around $115,600, down from its recent high of $123,000 reached earlier this month. This drop of around 6% has caused many investors and traders to re-evaluate short-term market conditions. Despite the correction, Bitcoin still holds a strong position in the global cryptocurrency market.
Intraday trading shows Bitcoin price movement between $115,000 and $119,400. Analysts are watching whether Bitcoin can recover and move past $118,000, a key resistance zone. If it fails, the price may drop further toward the next major support levels.
Immediate Resistance: $116,800 to $118,000
Major Resistance: $120,000 to $123,000
Immediate Support: $113,500
Major Support: $112,000 and $104,000
Bitcoin price today is currently facing pressure from sellers. If it breaks below $113,500, it may fall toward $112,000 or lower. However, if it bounces back above $116,800, the price may head back toward $120,000.
Technical indicators like the Relative Strength Index (RSI) show the crypto is currently in an “oversold” condition. This usually suggests that a bounce or reversal is possible in the short term.
In recent weeks, large investors have started moving massive amounts of Bitcoin. One whale reportedly sold 80,000 BTC, worth around $9.6 billion, making it one of the largest single sales in crypto history. Another large transaction happened earlier this month, which also involved billions of dollars in Bitcoin.
Such moves often cause market volatility. When large holders sell, it increases supply in the market and can lead to short-term price drops.
Despite this, long-term sentiment remains strong. Many long-time holders are still in profit and continue to hold their positions, waiting for the next upward movement.
Also Read: Bitcoin and Altcoins Correlation Dropping: What Does it Mean?
The cryptocurrency's long-term strength is being supported by several positive Bitcoin price news in regulations, especially in the United States.
Supportive Bills in US Congress:
New bills are being discussed in the US Congress, including:
A law to define stablecoins more clearly.
Rules to classify digital assets properly.
A proposal to prevent central bank digital currencies (CBDCs).
Strategic Bitcoin Reserve in the US: The US government has launched a Strategic Bitcoin Reserve, holding over 200,000 BTC. This move shows growing trust in Bitcoin as a long-term store of value. Some US states, like Texas, are also considering similar plans.
Corporate Adoption: Large companies such as MicroStrategy (now called “Strategy”) continue to add Bitcoin to their balance sheets. Recently, they raised $500 million to buy more BTC, showing that institutional interest remains strong.
These regulatory moves have given investors more confidence. They also increase the chance of more widespread adoption in the future.
The overall cryptocurrency market value crossed $4 trillion in July 2025. This is a major milestone that shows how fast the market is growing.
Bitcoin continues to be the top asset in this space. Exchange-traded funds (ETFs), which allow traditional investors to buy the crypto easily, have seen a surge in inflows. This means that more money is entering the market through legal, regulated channels.
ETFs also bring credibility to it and increase their presence in mainstream finance.
BTC has often moved in four-year cycles linked to its halving events. A halving cuts the rewards miners receive, reducing new supply and historically leading to price increases.
Some analysts have given a Bitcoin price prediction that implies that this cycle still applies. New factors like institutional inflows and government involvement may be changing the way the cryptocurrency behaves.
Still, many experts believe the cycle remains valid. The current market seems to follow patterns seen in previous years, where price drops in the short term were followed by strong rallies.
Also Read: Bitcoin and Solana Price Moves Shaping Crypto Investors in 2025
Bitcoin is currently in a correction phase after reaching new all-time highs above $123,000 in mid-July 2025. The drop to around $115,600 has raised short-term concerns, but overall momentum remains strong due to institutional interest, regulatory clarity, and long-term investor belief in the asset.
Support zones near $113,500 and $112,000 are crucial in the coming days. A recovery above $116,800–$118,000 could signal a return to bullish territory.
With growing adoption, improved regulation, and strong investor demand, Bitcoin’s long-term outlook remains positive. While short-term volatility may continue, the broader trend points to higher prices as more capital flows into the market.
