Bitcoin News Today: Bitcoin Corrects Near $114,670 as Analysts See Accumulation Opportunity

Bitcoin has entered a correction phase, with the price hovering near $114,670 amid broader market adjustments. Analyst Michaël van de Poppe has highlighted the pullback as a typical feature of a bull cycle and a prime opportunity for investors to accumulate positions ahead of the next upward move [1]. According to Van de Poppe, the current phase could allow investors to build positions before Bitcoin and altcoins resume their upward trajectory, possibly in the latter part of August [2].

The correction follows a parabolic rise in July, where Bitcoin reached an all-time high above $123,000. The pullback has tested key liquidity levels around $115,000 to $116,000, with the $110,000 to $112,000 range expected to serve as a strong support zone if the price continues to decline [3]. Analysts are monitoring this level closely, as a breakdown below it could signal a more pronounced correction. However, the prevailing view remains that this is a temporary pause rather than a reversal of the broader bullish trend [4].

Alongside Bitcoin's correction, altcoins are showing continued strength. Ethereum, for instance, surged 170% from recent lows, trading near $3,850 and just 23% away from its all-time high. Institutional investors have accumulated over $2.5 billion worth of ETH in recent weeks, while retail activity has also increased, with Bitcoin transactions under $10,000 rising by 9.7% in July [5]. The Altcoin Index from CoinMarketCap has fluctuated between 41% and 35%, indicating that some top 100 altcoins are outperforming Bitcoin [6].

The shift in market dynamics is also reflected in futures trading, where altcoins and Ethereum dominate the volume. Altcoin and Ethereum futures have accounted for 83% of total futures trades, with Bitcoin’s share dropping to 17%. On Binance, 401 of 424 altcoin futures pairs have posted positive returns since Bitcoin’s recent all-time high [7]. This suggests a growing rotation of capital into altcoins, supporting the notion of an "altseason."

Looking ahead, analysts like Joao Wedson suggest the Bitcoin bull market could last at least two more months, with altcoins potentially facing shorter correction cycles. The broader macroeconomic landscape, including the delayed U.S. monetary policy adjustments compared to global counterparts, has also played a role in shaping the current market dynamics [8]. Historical data from previous bull runs, such as the 2020–2021 cycle, indicate that corrections of up to 20% are not uncommon and do not necessarily signal the end of the trend [9].

In sum, the current correction is widely seen as a natural part of the bull cycle rather than a structural downturn. Investors are advised to treat the dip as a potential buying opportunity, particularly as Bitcoin stabilizes near critical support levels and altcoins consolidate for a potential breakout. If the market structure holds and macroeconomic conditions remain favorable, the stage could be set for the next leg of the bull run [10].

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[1] Source: [1] Bitcoin Correction Begins, Analyst Says It's Time to Accumulate for Next Crypto Run (https://coinedition.com/bitcoin-correction-accumulation-altseason/)

[2] Source: [2] Altcoins Accumulation Phase Continues: Breakout Expected After Bitcoin Correction (https://blockchain.news/flashnews/altcoins-accumulation-phase-continues-breakout-expected-after-bitcoin-btc-correction-says-micha-l-van-de-poppe)

[3] Source: [3] Bitcoin News Today: Bitcoin Bull Run May Peak in Months (https://www.ainvest.com/news/bitcoin-news-today-bitcoin-bull-run-peak-months-analysts-cautiously-forecast-corrections-2508/)

[4] Source: [4] US Lags Global Trend on Rate Cuts, Delaying Crypto Rally (https://coinedition.com/us-lags-global-trend-on-rate-cuts-delaying-crypto-rally-analysts/)

[5] Source: [5] Bitcoin Slides Below $115K As Tariff Shock Hits Markets (https://m.fastbull.com/news-detail/bitcoin-slides-below-115k-as-tariff-shock-hits-4338007_0)

[7] Source: [7] Are XRP and Bitcoin's Dips Simply Normal Corrections? (https://finance.yahoo.com/news/xrp-bitcoins-dips-simply-normal-101500605.html)

[9] Source: [9] Bitcoin, Ethereum, XRP, Dogecoin All Tumble (https://stocktwits.com/news-articles/markets/cryptocurrency/bitcoin-ethereum-xrp-dogecoin-all-tumble/chr3zPyRdbL)