Bitcoin News Today: Bitcoin Price Holds Steady Amid $10.7% 30-Day Gain as Total Crypto Market Cap Falls 17.4%

Bitcoin’s price has shown resilience, trading within a narrow range of $118,629 to $118,823 over the past hour on July 28, 2025, according to Bitcoin.com. The market capitalization remains robust at $2.35 trillion, yet a 24-hour trading volume of $38.23 billion has sparked caution among traders, marking a notable decline compared to prior peaks. The intraday range—from $117,953 to $119,754—highlights consolidation amid reduced volatility, with technical indicators signaling a potential pause in momentum [1].

On the daily chart, Bitcoin continues to trend upward from its base near $99,700, but recent price action suggests plateauing around $119,000–$120,000. A volume spike preceding a high of $123,236 has since faded, raising questions about buyer exhaustion. Long upper wicks on recent candles reinforce the idea of rejection at higher levels, hinting at a distribution phase. Analysts advise monitoring the $114,000–$116,000 support zone, with bullish reversal patterns potentially triggering renewed buying interest [1].

Shorter-term charts reveal mixed signals. The 4-hour chart shows a sharp correction from $120,297 to $114,518, followed by a V-shaped recovery that stalled near $119,500–$120,000. A series of lower highs indicates waning upward momentum, with traders eyeing the $116,500–$117,000 range for potential re-entry points if volume confirms a rebound. A breakdown below $114,000 would invalidate bullish setups, prompting exits [1]. The 1-hour chart underscores range-bound trading between $117,900 and $119,800, with bearish pressure intensifying. Scalping opportunities may emerge between $117,800 and $118,000, but trend reversals remain a risk if the price falls below $117,500 [1].

Technical indicators remain neutral to mixed. The RSI at 61 and Stochastic oscillator at 54 signal indecision, while the ADX of 26 confirms a weak trend. The momentum indicator (747) and moving averages (EMAs/SMA aligned near $118,300) offer limited bullish bias, but the MACD’s bearish reading and a 4,468 value on the Awesome oscillator underscore caution [1].

Broader context reveals Bitcoin’s outperformance against the broader cryptocurrency market. Over the past 30 days, its price surged 10.7%, contrasting with a 17.4% decline in the total crypto market cap [2]. While 24-hour volume dipped to $39.6 billion as of June 23, 2025, this reduction aligns with typical pre-correction dynamics, as noted by CoinGecko [2]. Meanwhile, altcoins like XRP have seen sharper volume drops, underscoring Bitcoin’s role as a market bellwether [4].

Analysts remain divided on near-term outcomes. Bullish cases hinge on volume rebounds and a breakout above $120,000, which could retest resistance at $123,000–$124,000 [1]. Conversely, bearish scenarios emphasize exhaustion near $120,000 and potential breakdowns below $114,000, which might trigger deeper retracements [1]. Open interest growth of $4 billion, driven by whale activity, supports the bullish thesis [3], yet declining volume remains a red flag for overextension [2].

The interplay between price and volume will likely dictate Bitcoin’s next move. A sustained uptick in trading activity alongside higher prices could validate the trend’s strength, while further volume erosion without a pullback may signal a shift in sentiment. For now, the market balances on the edge of consolidation and correction, with key levels at $117,500 and $120,000 serving as critical benchmarks [1].

Source: [1] [Bitcoin Price Watch: Uptrend Intact, but Volume Drop Raises Caution] [https://api.news.bitcoin.com/wp-json/bcn/v1/post?slug=bitcoin-price-watch-uptrend-intact-but-volume-drop-raises-caution] [2] [CoinGecko] [https://www.coingecko.com/en/coins/bitcoin/usd] [3] [Mitrade] [https://www.mitrade.com/insights/news/live-news/article-3-989482-20250727] [4] [AInvest] [https://www.ainvest.com/news/xrp-news-today-xrp-trading-volume-declines-37-post-rally-market-cooldown-signals-temporary-pause-reversal-2507/]