Bitcoin News Today: Bitcoin Dips Below $118,000 as Whale Sales and Institutional Activity Spark 29% Volume Decline

Bitcoin’s price slipped below $118,000 on July 27-28, 2025, with trading data showing a decline to $117,985.30 on Binance and $117,947.97 USDT within 24 hours [1][2]. The drop followed heightened volatility, including a temporary dip to $114,700 before stabilizing in a tight consolidation range [4]. Analysts attributed the movement to large-scale transfers from Satoshi-era “whale” holders, highlighting Bitcoin’s susceptibility to actions by major stakeholders [1]. Institutional activity remained evident, though key figures, including Binance CEO Changpeng Zhao, have not publicly commented on the price shift [1].

The decline reflects broader market uncertainty, with Bitcoin’s 24-hour volume dropping 29% as of July 12, signaling reduced liquidity [1]. While the cryptocurrency has held above key support levels such as $115,724 since mid-July [9], the drop has reignited debates about a potential “bull trap,” particularly after Bitcoin briefly surged to record highs just days prior [7]. A breakdown below $115,724 could trigger a test of the $110,000 support zone, while a retest of $118,000 may spark renewed buying [1].

Institutional involvement persisted despite the correction. Galaxy Digital’s record $9 billion Bitcoin sale in early July underscored macroeconomic tailwinds but failed to sustain upward momentum [10]. Analysts noted that regulatory ambiguity and decentralized trading dynamics amplify Bitcoin’s sensitivity to sentiment shifts [4]. Some forecasted potential short squeezes could drive rebounds, though technical indicators remain divided on whether the $118,000 level will act as a magnet for buyers or a threshold for deeper declines [1][8].

The price action also rippled across the cryptocurrency market, with altcoins like Ethereum and Dogecoin experiencing immediate valuation adjustments [1]. Exchanges reported short-term strategy recalibrations among investors, particularly those managing exposure to crypto assets amid macroeconomic uncertainties [1]. While Bitcoin’s long-term adoption and macroeconomic fundamentals remain intact, the recent volatility underscores the asset’s reliance on liquidity and institutional risk appetite [1].

Sources:

[1] [Bitcoin News Today: Bitcoin Consolidates Near $118000](https://www.ainvest.com/news/bitcoin-news-today-bitcoin-consolidates-118-000-0-21-gain-volume-drops-29-2507/)

[2] [Dow Jones Declines as S&P Nears Record Highs](https://m.economictimes.com/crypto-news-today-live-28-jul-2025/liveblog/122939448.cms)

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

[7] [Bitcoin surges to new highs above](https://www.aol.com/finance/bitcoin-surges-highs-above-113-182648391.html)

[8] [Are Traders Walking Into a Bitcoin Bull Trap at $118K?](https://www.msn.com/en-us/money/markets/are-traders-walking-into-a-bitcoin-bull-trap-at-118k-here-is-the-cheap-crypto-smart-investors-are-stacking-instead/ar-AA1Jishf)

[9] [Galaxy Digital Breaks Record With $9 Billion Bitcoin Sale](https://www.mitrade.com/insights/news/live-news/article-3-989641-20250727)

[10] [ETH Price Surges to $3787 as Ethereum Technical](https://blockchain.news/news/20250728-eth-price-surges-to-3787-as-ethereum-technical-analysis-shows)