Bitcoin News Today: Bitcoin Holds Key Support Above $114K Eyes $120K Rebound as Market Cap Hits $2.34 Trillion

Bitcoin’s price remained above the critical $114,000 support level on July 26, 2025, maintaining a bullish bias as the cryptocurrency traded at $117,914 per coin. This pushed its market capitalization to $2.34 trillion, with a 24-hour trading volume of $43.60 billion [1]. The intraday range of $115,086 to $118,102 highlighted a tug-of-war between buyers and sellers near-term resistance, while the broader uptrend since recent highs of $123,200 had transitioned into consolidation. Institutional activity, indicated by a red volume candle at upper levels, suggested profit-taking, but support between $114,000 and $115,000 held firm, tested multiple times [1]. Traders anticipated a rebound toward $120,000–$122,000, with risk defined below $113,500.

On the 4-hour chart, Bitcoin rebounded from a low of $114,518, forming a tentative V-shaped recovery. However, thin volume during the rebound signaled market hesitation, and the $118,000 level acted as immediate resistance. A close above $118,500 on strong volume could trigger a short-term breakout, while failure here risked a pullback to $116,000. Tactical positioning based on breakout or rejection signals became a priority for traders [1]. The 1-hour chart showed a micro-bottom at $114,518, initiating a strong rebound that stalled near $118,509, indicating near-term exhaustion. Scalping opportunities were identified within the $117,800–$118,200 range, with tight stops required due to the narrow band. A clear break above or rejection from $118,200 would determine the next minor trend [1].

Technical indicators presented a mixed picture. Momentum and MACD levels showed bearish signals, while oscillators like the RSI, Stochastic, and CCI remained neutral. Moving averages, however, reinforced a bullish bias. Exponential and simple moving averages across multiple timeframes (20-day to 200-day) aligned with the longer-term upward trajectory. The 10-period EMA turned bullish, though the 10-period SMA lagged slightly, highlighting short-term choppiness amid the broader uptrend [1].

A bullish outcome hinges on Bitcoin sustaining support above $114,000 and breaking $118,500 with volume, which could extend the rally toward $120,000–$123,000. Strong alignment of longer-term MAs suggests ongoing accumulation beneath key resistance [1]. Conversely, a breakdown below $114,000 could deepen the correction toward $110,000, with bearish momentum metrics signaling vulnerability if buyers lose control [1].

The broader market context saw Bitcoin outperforming the crypto sector, which declined 16.8% in the prior month. The BTC/AUD rate reached A$179,684 on July 23, reflecting a 1.4% daily gain and 9.3% monthly increase [2]. Meanwhile, speculative forecasts, such as a banking giant’s projection of $200,000 by December 2025, underscored growing institutional confidence but were framed as contingent on macroeconomic factors [3].

Bitcoin’s role as a decentralized store of value was reinforced in markets like Georgia, where the BTC/GEL rate hit ₾319,501 on July 19, highlighting its utility amid fiat instability [2]. However, risks persisted, including potential regulatory shifts and macroeconomic headwinds like tightening monetary policy. Traders were advised to monitor technical indicators and on-chain metrics for confirmation of the current rally’s strength [1].

Sources:

[1] Bitcoin.com, "Bitcoin Price Watch: Bullish Bias Remains Above $114K Floor", https://api.news.bitcoin.com/wp-json/bcn/v1/post?slug=bitcoin-price-watch-bullish-bias-remains-above-114k-floor

[2] CoinGecko, "BTC to GEL: Bitcoin Price in Georgian Lari", https://www.coingecko.com/en/coins/bitcoin/gel; "BTC to AUD: Bitcoin Price in Australian Dollar", https://www.coingecko.com/en/coins/bitcoin/aud

[3] NewsBTC, "Wall Street’s Bold Bet: Bitcoin Could Hit $200K By December, Banking Giant Says", https://www.newsbtc.com/