Bitcoin News Today: Bitcoin Nears 100% Surge Potential as Descending Triangle Holds $115K Support

Bitcoin’s price action has drawn attention to a descending triangle chart pattern, with analysts closely monitoring critical support levels and potential breakout scenarios. The cryptocurrency currently faces resistance at trendline levels while bulls defend a key support zone between $115,000 and $116,000 [1]. This resilience has fueled speculation that Bitcoin could see a 100% price surge, effectively doubling from present levels, should bullish momentum regain control [1]. Technical indicators, including the Relative Strength Index (RSI), have recently dipped into oversold territory at 37.8, hinting at a possible short-term corrective bounce [1].

Recent market dynamics, however, have been shaped by aggressive selling pressures. Galaxy Digital has emerged as a key player, offloading 12.85K BTC ($1.5 billion) across exchanges within a single trading session, with nearly 30,000 BTC ($3.5 billion) transferred out in total by July 25 [1]. Dormant “whale” holders have also re-entered the market, liquidating billions of dollars in BTC holdings, exacerbating the downward trend [1]. Bitcoin analyst Ki Young Ju highlighted a structural shift in market behavior, noting that older whales are now transferring positions to long-term institutional investors rather than retail buyers, a departure from the 2021 cycle [1].

Despite these bearish catalysts, institutional buyers and long-term holders remain active, capitalizing on price dips. Prominent crypto entrepreneur Arthur Hayes has publicly forecast a 100% price appreciation, projecting Bitcoin could reach $250,000 by year-end 2025 [1]. From a technical perspective, the 4-hour BTC/USDT chart shows Bitcoin trading below a descending trendline that now acts as resistance, while a fair value gap (FVG) spanning $119,000–$121,000 remains a potential target if bulls regain control [1].

The RSI’s recovery from oversold levels suggests short-term bearish momentum may be easing, though the asset remains vulnerable to further declines if support at $115K–$116K fails. Analysts caution that while a corrective bounce is plausible, the path to a 100% move hinges on sustained buying pressure and the ability of bulls to overcome recent selling pressures [1].

Source: [1] [Bitcoin Price Prediction: All Eyes on This Descending Triangle Chart Pattern – 100% Move Coming?](https://cryptonews.com/news/bitcoin-price-prediction-all-eyes-on-this-descending-triangle-chart-pattern-100-move-coming/)