Bitcoin News Today: Bitcoin Dips 3% Amid Citi's $199K Year-End Target

Bitcoin’s price dynamics remain under intense scrutiny as market participants assess short-term volatility and long-term forecasts for 2025. According to CoinStats, Bitcoin (BTC) experienced a 3% decline over the past 24 hours, with the top 10 cryptocurrencies collectively trending downward [4]. Technical indicators highlight critical support levels near $114,518 and $112,000, with traders closely monitoring whether the asset can stabilize above these thresholds to avert further declines. On the hourly chart, Bitcoin’s proximity to $114,518 suggests a potential test of the $114,000 area in the coming days, while a break below $115,226 could trigger a drop to the $112,000–$114,000 range by week’s end [4].

Citi’s latest forecasts add nuance to the broader outlook, positioning the bank as a cautiously bullish observer. The institution revised its base-case target to $135,000 by year-end, with a bullish scenario projecting $199,000 [1]. Conversely, a bearish scenario caps the year-end price at $64,000, reflecting the inherent risks of market cycles. This projection aligns with a whale’s $23.7 million options wager on a rally to $140,000–$200,000 by year-end, signaling strong conviction in a bullish outcome [2]. However, Bitcoin’s recent failure to sustain above $119,482—a critical mid-term level—has raised questions about its ability to maintain momentum [4].

Market conditions remain volatile, with Bitcoin trading at $115,771 as of July 24, reflecting a 2.41% decline amid $44 billion in open interest [3]. The broader crypto market cap stands at $3.86 trillion, with Bitcoin dominating trading volume. Analysts like CryptoQuant CEO Ki Young Ju have acknowledged the evolving nature of Bitcoin’s cycles, noting that traditional models may no longer apply due to shifting market dynamics [5]. Meanwhile, debates persist over whether the current cycle has less than 100 days of momentum remaining, though on-chain metrics and price behavior remain inconclusive [6].

Longer-term forecasts, such as Changelly’s average price projection of $140,756 for 2025–2030, underscore gradual institutional adoption but contrast with immediate volatility [7]. Bitcoin’s price has fluctuated between $116,000 and $120,000 in July, reflecting record open interest levels [2]. This divergence between short-term technical indicators and macro-level forecasts underscores the challenges of predicting Bitcoin’s trajectory in a rapidly shifting landscape.

As the year progresses, market participants will closely monitor on-chain data and institutional positioning for signals about Bitcoin’s next move. Citi’s $199,000 target hinges on favorable macroeconomic conditions and sustained demand, with the coming months likely to determine whether the asset maintains bullish momentum or enters a prolonged consolidation phase.

Source:

[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/)

[2] [BTC Price to Hit $135K by Year-End in Base Case, $199K ...](https://www.coindesk.com/markets/2025/07/25/bitcoin-to-hit-usd135k-by-year-end-in-base-case-forecast-usd199k-in-bullish-scenario-citi)

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

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

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

[6] [Does Bitcoin Have Less Than 100 Days Left In This Cycle?](https://bitcoinmagazine.com/markets/bitcoin-100-days-left-in-this-cycle)

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