Bitcoin News Today: Bitcoin Holds Above $117K as Buyers Reinforce Key Support Zone

Bitcoin’s price remains anchored above the $117,000 support level, with buyers reinforcing a critical zone that analysts suggest could determine the cryptocurrency’s next directional move. Over the past 30 days, more than 1.48 million BTC has been traded between $105,000 and $120,000, indicating growing buyer interest in this range [5]. The $117K threshold has become a focal point, as sustained price action above this level signals structural stability and resiliency amid slower momentum.

Technical analysis underscores the significance of this support zone. BitcoinVector noted that while momentum has not yet accelerated, the market structure remains intact, with no sharp deterioration observed in on-chain metrics [1]. The price currently hovers near $118,000, suggesting continued buying pressure in the $117K–$118K range. Analysts caution that a break below $117K would trigger closer scrutiny of how the market responds, but for now, the setup remains constructive for upward continuation [1].

The 30-day trading data highlights a shift in demand dynamics. CryptoPatel observed that large volumes were transacted below $105K previously, but recent activity shows renewed buying between $105K and $120K [5]. This suggests a transition from prior heavy selling to strategic accumulation, with traders positioning around the $117K level. The increased activity in this range could solidify a new support base, potentially cushioning the price during retracements [5].

Market fundamentals also support a bullish outlook. Institutional and long-term holder accumulation has reinforced price stability since mid-July 2025, contrasting with historical bull market patterns where sharp corrections followed peak inflows in 2017 and 2021 [1]. Current exchange inflows remain subdued, indicating limited short-term selling pressure. However, analysts warn that a sudden spike in the Flow Pulse Indicator—a measure of exchange activity—could signal an impending sell-off [4].

Technical indicators further validate the bearish-bullish balance. Bitcoin is trading near the upper Bollinger Band at $124,041, with the middle band offering support around $115,955. Shorter-term moving averages (EMA/SMA) remain neutral, while longer-term averages (50-, 100-, and 200-day) maintain a positive stacking pattern [5]. The MACD and Momentum indicators, though bearish in the short term, have not yet confirmed a reversal.

Retail investor sentiment aligns with the broader trend. Despite a 4% pullback from the July 14 peak of $122,838, Bitcoin remains within a healthy growth range between $92K and $139K [6]. Analyst Kevinn Nguyen emphasized that $116K is a pivotal level for gauging the next major move, with a break above $120K potentially setting the stage for a retest of the all-time high [6].

The broader market context remains optimistic. Bitcoin’s 30- and 365-day moving averages remain bullish, and the Bull and Bear Market Cycle indicator from CryptoQuant suggests the market is in an overheated phase historically linked to short-term spikes and corrections [7]. However, sustained institutional participation and measured retail demand continue to underpin the $117K support zone, balancing caution with conviction.

Looking ahead, the price’s ability to reclaim $120K and push through the $124K Bollinger Band upper limit will be critical. A sustained break below $115K, however, could expose deeper support near $111K, potentially triggering a more significant correction if exchange inflows increase [8]. For now, the market remains in a delicate equilibrium, with buyers showing resolve to defend the $117K zone.

Source:

[1] [Bitcoin Holds Above $117K as Institutional Accumulation...](https://www.ainvest.com/news/bitcoin-news-today-bitcoin-holds-117k-institutional-accumulation-investor-confidence-sustain-price-stability-2507/)

[2] [$BTC Testing Key Support — Bounce or Breakdown Ahead?](https://www.binance.com/en/square/post/27316797998762)

[4] [Bitcoin's 2025 rally defies past bull run peaks, here's how](https://crypto.news/bitcoin-2025-rally-defies-past-btc-bull-run-2025/)

[5] [Bitcoin Price Holds Above $117K as Buyers Establish a Strong Support Zone](https://bitcoinist.com/bitcoin-investor-price-model-signals-healthy-growth-btc-eyes-139k-level/)

[6] [Bitcoin is Setting for the Next Big Move, Top Analyst Says](https://thecryptobasic.com/2025/07/24/bitcoin-is-setting-for-the-next-big-move-top-analyst-says/)

[7] [Bitcoin's 2025 rally defies past bull run peaks, here's how](https://crypto.news/bitcoin-2025-rally-defies-past-btc-bull-run-2025/)

[8] [Bitcoin Price Holds Above $117K as Buyers Establish a Strong Support Zone](https://bitcoinist.com/bitcoin-investor-price-model-signals-healthy-growth-btc-eyes-139k-level/)