Bitcoin News Today: Bitcoin Dips 2.4%-3% Amid Key Support Levels, Citi and Whale Back $199K-$200K Year-End Targets

Bitcoin's price trajectory on July 25, 2025, has drawn mixed signals as market analysts and traders assess short-term volatility amid divergent long-term forecasts. The cryptocurrency fell 2.4% to $115,771 in 24 hours, according to Binance’s market overview [5], while CoinStats noted a broader decline across the top 10 coins, with Bitcoin dropping 3% [3]. Technical indicators highlight key support levels at $114,518 and $112,000, with a daily close below $114,518 likely prompting a test of the $114,000 threshold tomorrow [3]. On longer timeframes, Bitcoin’s failure to stabilize above $119,482 raises concerns about a potential decline to $112,000 if the weekly bar closes below this level [3].

Despite near-term fragility, bullish sentiment persists. A Bitcoin whale recently wagered $23.7 million on a year-end rally to $200,000, aligning with record-high open interest in options markets [4]. Citigroup revised its 2025 base-case target to $135,000, with a bullish scenario projecting $199,000 by December [1]. This optimism reflects growing institutional adoption and macroeconomic tailwinds, though analysts caution against overreliance on cycle theories after CryptoQuant CEO Ki Young Ju acknowledged errors in prior predictions, including miscalculating Bitcoin’s $123,000 surge [8].

Market data underscores the tension between bearish and bullish forces. Open interest in Bitcoin derivatives reached $44 billion, with a $3.86 trillion market cap highlighting both risk and potential [5]. Changelly’s 2025–2030 projections suggest an average price of $140,756 with a modest 1.7% annual return [7], contrasting with Citi’s more aggressive forecast. Traders are closely monitoring whether Bitcoin can consolidate above $116,000–$120,000 to avoid further downward pressure.

As the year-end approaches, the interplay between technical breakdowns and macroeconomic catalysts will likely determine whether Bitcoin realizes its projected highs or enters prolonged consolidation. Investors are advised to balance optimism about institutional adoption with caution regarding market fragility.

Sources:

[1] [Citi Forecasts Bitcoin to Reach $199K by Year-End](https://thecryptobasic.com/2025/07/25/citi-forecasts-bitcoin-to-reach-199k-by-year-end/)

[3] [Bitcoin (BTC) Price Prediction for July 25](https://u.today/bitcoin-btc-price-prediction-for-july-25)

[4] [Bitcoin Whale Bets $23.7M on BTC Rally to $200K by Year...](https://www.coindesk.com/markets/2025/07/25/bitcoin-whale-wagers-usd23-7m-on-btc-rally-to-usd140k-usd200-k-by-year-end)

[5] [Bitcoin's Open Interest Reaches $44B Amid Price Drop](https://m.economictimes.com/crypto-news-today-live-25-jul-2025/liveblog/122889124.cms)

[7] [Bitcoin (BTC) Price Prediction 2025 2026 2027 - 2030](https://changelly.com/blog/bitcoin-price-prediction/)

[8] ['Bitcoin cycle theory is dead' Says CryptoQuant CEO](https://crypto-economy.com/bitcoin-cycle-theory-is-dead-says-cryptoquant-ceo-what-does-it-mean/)