Bitcoin News Today: Bitcoin Holds Higher Low Near $112,700 Eyes $115K Breakout for Bullish Move

Bitcoin is exhibiting early signs of a potential recovery, having formed a higher low near $112,700, a key level highlighted by analyst Michaël van de Poppe [1]. At the time of reporting, Bitcoin (BTC) is trading around $113,950, down 0.58% in the last 24 hours, following a volatile week that saw the price dip from a July high of $123,200 to a recent low near $112,000 [1]. The current price action suggests that Bitcoin is consolidating within a decisive range, with the $115,000 level emerging as a critical resistance zone [2].

Van de Poppe noted that a successful breakout above $115,000 could trigger a reentry into a broader bullish trend, not only for Bitcoin but also for altcoins, which have lagged in recent weeks [1]. The next key level to watch is $116,800, which, if reclaimed, could set the stage for a test of all-time highs. The presence of visible liquidity above this level suggests that further upward momentum could be on the horizon [1]. A move beyond $119,504 would be a strong indicator of institutional confidence returning to the market.

However, the path to a bullish scenario is not without risks. Should Bitcoin fall below $113,000, the current constructive setup would be invalidated, potentially leading to a retest of the key support zone between $110,000 and $112,000 [1]. This area has historically acted as a demand zone during pullbacks and could offer a final buffer before further declines toward $103,000 [1]. Van de Poppe emphasized that maintaining control above $113,000 remains crucial for preserving the bullish case.

The broader market has also seen signs of stabilization. The total crypto market cap reached $3.7 trillion in mid-August after weeks of choppy movement [3]. Binance has played a central role in this environment, with futures trading volumes surging to $2.55 trillion in July [5]. This increase in volume aligns with Bitcoin’s consolidation near key levels and reflects heightened trader activity across the market [5].

Altcoins have shown tentative signs of recovery, mirroring Bitcoin’s price action by rebounding from key support levels. However, Bitcoin’s market dominance has slightly declined, dropping to 61.97% from a high of 62.54%, indicating increased attention to smaller tokens [3]. Analysts have also noted a wave of catalysts in the altcoin market, including governance votes, token unlocks, and new project developments, which are providing additional momentum [6].

Despite the cautious optimism, veteran trader Peter Brandt has issued a warning, describing Bitcoin as “just an asset” and cautioning against unrealistic expectations of life-changing returns [1]. He emphasized the need for investors, particularly younger traders, to manage expectations and avoid ideological attachment to the cryptocurrency, while still acknowledging its role as a fiat hedge [1].

The altcoin market remains in a watchful state, with Bitcoin’s ability to hold above $114,000 seen as a critical factor in determining whether smaller tokens can follow in a sustained bullish move [4]. A breakout above $115,000 could serve as a green light for altcoins to rally, echoing past market cycles where Bitcoin led the way out of consolidation [1].

Sources:

[1] Coin – [https://coinedition.com/bitcoin-holds-higher-low-eyes-115k-breakout-will-altcoins-follow/](https://coinedition.com/bitcoin-holds-higher-low-eyes-115k-breakout-will-altcoins-follow/)

[2] Binance – [https://www.binance.com/en/square/post/27879439619866](https://www.binance.com/en/square/post/27879439619866)

[3] CCN.com – [https://www.ccn.com/analysis/crypto/crypto-market-up-today-reasons-behind-it/](https://www.ccn.com/analysis/crypto/crypto-market-up-today-reasons-behind-it/)

[4] Instagram – [https://www.instagram.com/p/DM-fKegBSKv/](https://www.instagram.com/p/DM-fKegBSKv/)

[5] CryptoDnes.bg – [https://cryptodnes.bg/en/binance-dominates-futures-market-with-2-55-trillion-july-volume-surge/](https://cryptodnes.bg/en/binance-dominates-futures-market-with-2-55-trillion-july-volume-surge/)

[6] Binance – [https://www.binance.com/en/square/post/27861627805754](https://www.binance.com/en/square/post/27861627805754)