Bitcoin News Today: Bitcoin's Sharp Correction Triggers $731M Liquidations, Price Rebounds to $117K

Bitcoin’s recent volatility has drawn significant attention as the cryptocurrency dipped below $116,000 on July 15, 2025, triggering widespread liquidations of long positions across the market. The price fell to $115,356, marking a sharp correction following its all-time high of $123,100 on July 14. Over the subsequent 24 hours, $731.93 million in long positions were liquidated, with Bitcoin accounting for $140.06 million of that total [1][3]. Ethereum and Dogecoin also faced substantial losses, with ETH dropping 1.33% to $3,598 and DOGE falling nearly 7% to $0.22, resulting in $104.76 million and $26 million in liquidations, respectively [1]. The event affected 213,729 traders, one of the largest liquidation events in recent history [3].

Despite the abrupt sell-off, Bitcoin showed resilience, surging back above $117,000 by July 20. However, this level still reflected a 1.2% dip over the preceding 24 hours [2]. The Crypto Fear & Greed Index, a key sentiment indicator, remained at 70, signaling sustained optimism among investors amid the volatility [1]. Meanwhile, Galaxy Digital’s sale of 80,000 BTC—the largest national Bitcoin transfer to date—introduced uncertainty, though its short-term impact on price action remains ambiguous [1].

The liquidation event underscored the fragility of leveraged positions in the crypto market, particularly for high-leverage longs initiated during the July 14 rally. Analysts noted that such corrections are typical in crypto cycles, where rapid price swings often lead to forced selling [1]. The rebound above $117,000 suggests technical support levels may have stabilized buyer interest, though further consolidation is likely before a sustained upward trend resumes.

The market’s post-liquidation recovery highlights underlying strength but also exposes risks. The liquidation of over $700 million in long positions illustrates the vulnerability of leveraged traders to sudden volatility. Institutional activity, such as Galaxy’s large-scale transfer, adds complexity, as significant offloads can exacerbate price swings. However, the Crypto Fear & Greed Index’s elevated reading indicates retail sentiment remains bullish, suggesting a potential rebound could gain momentum if institutional selling pressure subsides.

Ethereum’s decline to $3,598 and Dogecoin’s 7% drop underscore the interconnectedness of crypto assets during downturns. Yet Bitcoin’s reclamation of $117,000 suggests a near-term floor for support. For now, the market appears in a consolidation phase, with traders closely monitoring whether the recent rally can withstand renewed selling pressures or institutional moves.

Sources:

[1] [BlockchainReporter] [https://blockchainreporter.net/bitcoin-resurges-from-115k-amid-significant-liquidation-in-long-positions/]

[2] [BlockchainReporter] [https://blockchainreporter.net/blockchainreporter-weekly-news-review-stocks-and-gold-go-onchain/]

[3] [CoinGlass] [https://www.coinglass.com/news]