Bitcoin News Today: Bitcoin Falls to $117,914 with $47.5M Liquidations at $119K Resistance as Ethereum Gains 2.98% Market Share

Bitcoin dropped to an intraday low of $117,914 as $47.5 million in liquidations were triggered by resistance near the $119,000 level on July 28, 2025, despite the overall bullish trend remaining intact [1]. The price decline occurred in a high-leverage zone between $118,000 and $119,000, where long positions were vulnerable to forced selling after Bitcoin failed to break above critical resistance [2]. A 24-hour liquidation heatmap revealed dense clusters of long positions in this range, alongside a strong resistance zone between $120,000 and $120,600 due to concentrated short positions, further capping upward momentum [3].

Market dynamics are shifting as Ethereum gains traction over Bitcoin, with Ethereum’s market share rising by 2.98% in the past month compared to Bitcoin’s 4.98% decline [4]. This trend is fueled by inflows into spot ETH ETFs, which attracted $1.8 billion this week versus $72 million for Bitcoin, signaling growing institutional interest in Ethereum’s ecosystem [5]. The capital rotation has also boosted high-beta altcoins like Solana, Avalanche, and Chainlink, as traders seek higher volatility amid Bitcoin’s stalled breakout attempts [6].

Analysts caution that Bitcoin’s bull run is not yet over but warn of increased caution. The MVRV ratio—historically tied to market tops—is approaching critical levels, while the 365-day moving average forms a double-top pattern similar to 2021 [7]. CryptoQuant analysts suggest a potential peak in September or a reversal as early as late August if Bitcoin fails to break decisively above $119,500 [8]. A weekly close above this level could trigger a rally toward $135,000, supported by improving macroeconomic conditions such as U.S. trade negotiations and potential Federal Reserve dovish signals [9].

Key technical indicators remain pivotal. Bitcoin is testing a long-term trendline, with a successful breakout above $119,500 seen as critical for sustaining the rally. However, repeated failed attempts to reclaim $119,000 highlight the fragility of the current momentum [10]. Market observers emphasize that favorable macroeconomic sentiment and technical patterns will be key drivers in the near term, though short-term volatility persists [11].

The price dip reflects short-term selling pressure amid resistance, but the broader bullish trend remains intact as momentum shifts to Ethereum and altcoins. Investors are advised to monitor a decisive break above $119,500, which could signal renewed upward movement [12].

Source: [1] [Bitcoin Faces Resistance Near $119K Amid Liquidations...] [https://en.coinotag.com/bitcoin-faces-resistance-near-119k-amid-liquidations-and-market-share-shifts-analysts-suggest-cautious-outlook/]

[2] [Bitcoin Faces Resistance Near $119K Amid Liquidations...] [https://en.coinotag.com/bitcoin-faces-resistance-near-119k-amid-liquidations-and-market-share-shifts-analysts-suggest-cautious-outlook/]

[3] [Bitcoin Faces Resistance Near $119K Amid Liquidations...] [https://en.coinotag.com/bitcoin-faces-resistance-near-119k-amid-liquidations-and-market-share-shifts-analysts-suggest-cautious-outlook/]

[4] [Bitcoin Faces Resistance Near $119K Amid Liquidations...] [https://en.coinotag.com/bitcoin-faces-resistance-near-119k-amid-liquidations-and-market-share-shifts-analysts-suggest-cautious-outlook/]

[5] [Bitcoin Faces Resistance Near $119K Amid Liquidations...] [https://en.coinotag.com/bitcoin-faces-resistance-near-119k-amid-liquidations-and-market-share-shifts-analysts-suggest-cautious-outlook/]

[6] [Bitcoin Faces Resistance Near $119K Amid Liquidations...] [https://en.coinotag.com/bitcoin-faces-resistance-near-119k-amid-liquidations-and-market-share-shifts-analysts-suggest-cautious-outlook/]

[7] [Bitcoin Faces Resistance Near $119K Amid Liquidations...] [https://en.coinotag.com/bitcoin-faces-resistance-near-119k-amid-liquidations-and-market-share-shifts-analysts-suggest-cautious-outlook/]

[8] [Bitcoin Faces Resistance Near $119K Amid Liquidations...] [https://en.coinotag.com/bitcoin-faces-resistance-near-119k-amid-liquidations-and-market-share-shifts-analysts-suggest-cautious-outlook/]

[9] [Bitcoin Faces Resistance Near $119K Amid Liquidations...] [https://en.coinotag.com/bitcoin-faces-resistance-near-119k-amid-liquidations-and-market-share-shifts-analysts-suggest-cautious-outlook/]

[10] [Bitcoin Faces Resistance Near $119K Amid Liquidations...] [https://en.coinotag.com/bitcoin-faces-resistance-near-119k-amid-liquidations-and-market-share-shifts-analysts-suggest-cautious-outlook/]

[11] [Bitcoin Faces Resistance Near $119K Amid Liquidations...] [https://en.coinotag.com/bitcoin-faces-resistance-near-119k-amid-liquidations-and-market-share-shifts-analysts-suggest-cautious-outlook/]

[12] [Bitcoin Faces Resistance Near $119K Amid Liquidations...] [https://en.coinotag.com/bitcoin-faces-resistance-near-119k-amid-liquidations-and-market-share-shifts-analysts-suggest-cautious-outlook/]