Bitcoin News Today: Bitcoin Holds Critical $116,800 Support as M2 Supply Hits Record $95.209T High

Bitcoin remains in a critical consolidation phase as traders and analysts monitor key support and resistance levels, with implications for potential new all-time highs. On July 25, 2025, Bitcoin traded near $117,000, having held above the $116,800 threshold identified by crypto trader Michaël van de Poppe as pivotal for bullish momentum. Van de Poppe emphasized that maintaining this level could propel BTC to fresh highs within the week, with a retest of $119.5K as the next key resistance target [1]. A breakdown below $116,800, however, risks triggering further corrections into the $110K–$112K accumulation zone [3].

Technical indicators reinforce the significance of these levels. Bitcoin’s derivatives open interest reached an all-time high of $44.5 billion, reflecting heightened market participation [4]. Derivatives data also shows increased liquidity in the $115K–$116K range, a critical neckline for a six-month bullish pattern. Analysts view a successful retest of this area as confirmation of resumed upward momentum [3].

Macroeconomic factors further underpin the bullish narrative. The global M2 money supply hit $95.209 trillion on July 23, 2025—a record high linked to historical Bitcoin price surges during prior bull cycles (2013, 2017, 2021) [5]. This liquidity expansion, combined with Bitcoin’s resilience above key support, has fueled speculation about a continuation of the current rally.

Price forecasts from industry figures reflect growing optimism. Robert Kiyosaki predicted BTC could trade between $180,000 and $200,000 by year-end, while HC Wainwright set a $225,000 target [5]. Tom Lee of Fundstrat cited macroeconomic conditions, including anticipated U.S. interest rate cuts, as justification for a $250,000 price target [5]. These projections align with the asset’s recent performance, which neared $123,000 earlier in July—the previous peak.

However, risks remain. A recent pullback below $116,000 triggered $585 million in liquidations, with some analysts warning of a potential breakdown below $100,000 if key support fails [9]. An AI-driven analysis also projected a possible drop if the $116K level is breached [8]. Despite these risks, whale activity and rising open interest suggest institutional and retail confidence in Bitcoin’s long-term trajectory [6].

Bitcoin’s market cap currently stands at $2.35 trillion, with daily trading volume exceeding $51.9 billion, signaling renewed investor interest [1]. The coming weeks will be critical in determining whether the cryptocurrency can sustain its momentum and challenge the $123,000 all-time high—or surpass it entirely. Analysts remain divided between cautious optimism and warnings of volatility, underscoring the dynamic interplay between technical and macroeconomic factors in shaping Bitcoin’s next move.

Source:

[1] [Bitcoin Holds Key Support – Analysts Predict New All-Time Highs Ahead](https://coindoo.com/bitcoin-holds-key-support-analysts-predict-new-all-time-highs-ahead/)

[3] [Bitcoin retests $115K–$116K neckline six-month bullish pattern confirmed](https://www.ainvest.com/news/bitcoin-news-today-bitcoin-retests-115k-116k-neckline-month-bullish-pattern-confirmed-eyes-125k-2507/)

[4] [Bitcoin Nears $117000 as Open Interest Hits Record $44.5B](https://www.ainvest.com/news/bitcoin-news-today-bitcoin-nears-117-000-open-interest-hits-record-44-5b-suggesting-bullish-breakout-2507/)

[5] [Market Braces for a New Bitcoin All-time High as Global M2 Reaches Record High](https://thecryptobasic.com/2025/07/25/market-braces-for-a-new-bitcoin-all-time-high-as-global-m2-reaches-record-high/)

[6] [$4B Increase In Bitcoin Open Interest Fueled By Whale Activity](https://www.mitrade.com/au/insights/news/live-news/article-3-989482-20250727)

[8] [AI sets date when Bitcoin will crash below $100000](https://finbold.com/ai-sets-date-when-bitcoin-will-crash-below-100000/)

[9] [Bitcoin Price: Market Correction Triggers Massive Liquidations](https://coincentral.com/bitcoin-btc-price-market-correction-triggers-massive-liquidations-as-analysts-eye-200k-target/)