Bitcoin News Today: Bitcoin Falls Below $117,000 on Whale Selling, XRP Gains 7% Amid Volatility

The cryptocurrency market experienced a notable pullback on July 24, 2025, as Bitcoin (BTC) fell below the $117,000 level amid increased selling pressure from large investors, or "whales" [1]. The decline, which saw Bitcoin’s price dip to $116,634.79, followed a rise in large transactions—up 5.8% for BTC and 5.1% for Ethereum (ETH) per IntoTheBlock data—indicating strategic offloading by institutional holders [1]. Ethereum, however, held steady at $3,730.88, while XRP posted gains of $3.13, reflecting resilience despite broader market volatility [1].

The selloff coincided with a 6% drop in daily active Bitcoin addresses, contrasting with Ethereum’s 3.5% increase [1]. Analysts noted that Bitcoin’s price action mirrored a similar correction in Q1, where a sharp rally was followed by a consolidation phase [1]. Skew, a crypto trader, observed that the $115,000 level is now critical, with spot buyers potentially absorbing sell pressure if the price stabilizes there. A short squeeze could follow if BTC consolidates near $117,000 and short positions grow [1]. BitBull predicted a potential drop to $111,000–$112,000, citing incomplete retesting of all-time high breakout levels as a key technical flaw [1].

Ethereum and XRP demonstrated contrasting dynamics. Ethereum’s stability was attributed to sustained on-chain activity and bullish technical setups, with CryptoWolf identifying two potential upward trajectories [1]. XRP’s 7% single-day gain, part of a 30% weekly surge, was linked to whale accumulation and favorable chart patterns, though traders emphasized a $3.20 daily close as a prerequisite for testing $3.60 [1]. Meanwhile, spot Ethereum ETFs saw $231.2 million in net inflows, outpacing Bitcoin’s $226.6 million, signaling growing institutional confidence in altcoins [1].

Market dynamics were further shaped by liquidation data: 141,129 traders were wiped out in 24 hours, totaling $534.38 million, as per Coinglass [1]. The sell-off underscored the sensitivity of Bitcoin to whale activity, while Ethereum and XRP’s performance highlighted their distinct demand drivers. Solana (SOL) and Dogecoin (DOGE) also drew attention for bullish technical indicators, though their trajectories remain speculative [1].

The correction has sparked debate about Bitcoin’s near-term trajectory. A 20%–25% pullback after hitting an all-time high is seen as a potential "shakeout" before a stronger rally in Q4, particularly for Ethereum [1]. However, BitBull’s prediction of a $111,000–$112,000 support zone underscores the risks of a prolonged consolidation. Traders are advised to monitor on-chain metrics, including active addresses and whale movements, to gauge the likelihood of a rebound. For XRP, the $3.20 threshold remains a pivotal test of its breakout potential [1].

Sources:

[1] [Bitcoin Slips Below $117,000 On Whale Selling, Ethereum, XRP Hold Steady](https://www.benzinga.com/crypto/cryptocurrency/25/07/46627515/bitcoin-slips-below-117000-on-whale-selling-ethereum-xrp-hold-steady?utm_source=coingecko&utm_campaign=partner_feed&utm_medium=partner_feed&utm_content=site)

[4] [XRP Soars Over 30% This Week, Jumps 7% Today](https://www.msn.com/en-in/money/markets/xrp-soars-over-30-this-week-jumps-7-today-surge-signals-the-bull-run-is-just-getting-started/ar-AA1IMbL4)