Bitcoin News Today: Bitcoin Consolidates in $115K-$120K Range Amid Galaxy's $1.5B Sale and Rising Volatility Risks

Bitcoin has been consolidating within a narrow price range of $115,000 to $120,000 for over two weeks, with traders closely observing key support and resistance levels ahead of a potential breakout. The cryptocurrency’s sideways movement reflects market uncertainty, exacerbated by large-scale transactions such as Galaxy Digital’s $1.5 billion BTC sale and 80,000 BTC in exchange transfers, which have heightened volatility risks [1]. Technical indicators like bearish RSI divergence suggest downward pressure, while a rising wedge pattern—a technical formation often preceding sharp breakouts—has also been identified [3].

The current consolidation range is characterized by dense liquidation clusters between $115,000 and $120,000, according to analysis by Daan Crypto Trades. A breakout from this corridor could trigger significant liquidation risks for leveraged traders on both sides, potentially spiking volatility [4]. Meanwhile, Merlijn The Trader notes a strong correlation between Bitcoin’s price and global M2 liquidity trends. His analysis suggests BTC has historically mirrored liquidity cycles, with analysts projecting a potential rally into late summer if liquidity flows remain strong, targeting $135,000 and $144,000 [4].

Market sentiment remains divided. Some traders view the consolidation as a “bullish pause” ahead of a breakout above $120,000 [5], while others caution a possible drop to $111,000 if key support levels fail [2]. The broader crypto market’s total capitalization, which reached $3.87 trillion in early July, reflects rising bullish sentiment, though Bitcoin’s prolonged indecision indicates lingering investor caution [6].

A critical factor in the near-term outlook is Bitcoin’s ability to decisively breach the $115,000–$120,000 range. A sustained move above $120,000 could validate bullish momentum and align with projected liquidity-driven rallies, while a breakdown below $115,000 may reignite bearish concerns. Analysts highlight the importance of monitoring liquidity sweeps at higher price levels and testing of support zones, as these could determine the next phase of the market cycle [4].

Galaxy Digital’s recent large-scale BTC transactions have added complexity to the technical landscape, introducing additional volatility without indicating a clear directional bias [1]. Traders are advised to watch for stop-loss orders clustered just above recent swing highs, as these could act as catalysts for sharp price moves [4].

Source:

[1] [Bitcoin News Today: Bitcoin Trapped $116K-$120K Range Key $111K Support Tested Breakout](https://www.ainvest.com/news/bitcoin-news-today-bitcoin-trapped-116k-120k-range-key-111k-support-tested-breakout-2507/)

[2] [Bitcoin Endures One Of The Most Intense Bear Weeks](https://www.mitrade.com/au/insights/news/live-news/article-3-989792-20250727)

[3] [Bitcoin Faces Critical $113500 Support as Galaxy's $1.5B Sale Threatens 12% Drop](https://www.ainvest.com/news/bitcoin-news-today-bitcoin-faces-critical-113-500-support-galaxy-1-5b-sale-threatens-12-drop-2507/)

[4] [Global Money Flow Rising: Bitcoin Price Mirrors Every Move](https://cryptodnes.bg/en/global-money-flow-rising-bitcoin-price-mirrors-every-move/)

[5] [Bitcoin Price Analysis: Is a Crash to $111K Imminent for BTC](https://cryptoadventure.com/bitcoin-price-analysis-is-a-crash-to-111k-imminent-for-btc)

[6] [Crypto Market Cap Reaches $3.87T Amid Rising Bullish Sentiment](https://blockchainreporter.net/crypto-market-cap-reaches-3-87t-amid-rising-bullish-sentiment/)