Bitcoin News Today: Bitcoin Dips 2.56% to $114 500 Amid Tariff Fears and Profit-Taking

Bitcoin briefly fell to $114,500 on Friday as renewed concerns over U.S. tariffs on Asian imports and a wave of profit-taking weighed on the cryptocurrency market. Over the past 24 hours, the price dipped by 2.56%, reaching below $114,500 during early Asia trading hours before rebounding to $115,700 at the time of writing [1]. This decline marked the third significant profit-taking event of the current bull cycle, according to on-chain analytics firm CryptoQuant. The firm reported that realized profits surged to between $6 and $8 billion in late July, matching previous peaks seen in March and December 2024 [1].

The selling pressure was primarily driven by new whale investors who had accumulated Bitcoin within the last 155 days. These investors, often characterized by large, concentrated holdings, contributed to the price correction following Bitcoin’s record high of over $123,000 on July 14 [1]. CryptoQuant noted that such profit-taking events have historically led to two- to four-month consolidation periods before the next upward move. However, U.S. investor enthusiasm appears to be waning, which may extend the current range-bound phase.

James Toledano, Chief Operating Officer at Unity Wallet, stated that Bitcoin may remain in a trading range for the near term as investors process macroeconomic signals. He added that renewed institutional inflows or a rise in inflation expectations could provide the necessary momentum for another attempt to reach previous highs or even establish a new all-time high [1].

Despite the recent dip, Bitcoin’s stability at current levels indicates that most institutional investors remain in the market, with only a few large-scale exits recorded, such as Galaxy Digital’s major BTC sale last week [1]. Analysts remain cautious but optimistic, noting that the market is still in a consolidation phase and awaiting a macroeconomic catalyst to break out of its current pattern. CryptoQuant expects renewed accumulation in the future, which could lead to a breakout and another rally [1].

Source:

[1] Bitcoin Briefly Dips to $114.5K as Tariff Fears and Profit-Taking Hit Markets (https://cryptonews.com/news/bitcoin-briefly-dips-to-114-5k-as-tariff-fears-and-profit-taking-hit-markets/)