Bitcoin News Today: Bitcoin retests $115K–$116K neckline six-month bullish pattern confirmed eyes $125K

Bitcoin retested the $115,000–$116,000 neckline on July 26, 2025, following a breakout above $113,000, signaling sustained bullish momentum in the cryptocurrency market. The price action confirmed the formation of an inverse Head & Shoulders pattern over six months, with the neckline now acting as a critical support level [1]. This technical structure, previously a resistance zone between $105,000 and $110,000, reinforced the continuation of an uptrend as Bitcoin consolidated above $115K, maintaining higher highs and lows. Analysts noted that the retest validated the pattern’s reliability as a bullish reversal indicator, increasing the likelihood of further upward movement toward $125,000 [2].

The surge in open interest to a record $44.5 billion highlighted growing leverage and speculative activity in the market [3]. This metric, reflecting the total value of outstanding derivative contracts, indicated heightened volatility as institutional capital flows via ETFs added complexity to Bitcoin’s price dynamics. The elevated open interest, combined with recent price dips, underscored the potential for rapid gains or sharp corrections, prompting traders to adopt cautious strategies.

Bullish participants focused on breaking through the $118,800 resistance level to trigger a rally toward $125,000. Clearing this threshold would confirm a breakout from the current wedge pattern, attracting further buying interest and reinforcing the uptrend. CoinMarketCap data showed Bitcoin’s market cap at $2.33 trillion, with a 1.79% price increase in the last 24 hours despite a 26.54% drop in trading volume to $69.31 billion [4]. The asset traded near $117,595, holding key support levels ahead of the Federal Reserve’s FOMC meeting on July 29 [5].

The FOMC decision emerged as a pivotal event for Bitcoin’s short-term trajectory. Market participants anticipated potential rate cuts, which could boost risk appetite and drive inflows into crypto assets. Conversely, a hawkish stance from the Fed might heighten uncertainty, challenging the current bullish momentum. Traders adjusted positions ahead of the meeting, with open interest and leverage levels amplifying the market’s sensitivity to macroeconomic signals.

Analysts emphasized that the current cycle differed from past corrections due to institutional participation and ETF-driven inflows. These factors contributed to a more resilient Bitcoin price, even during volatility. However, the record open interest also signaled increased fragility, as large liquidation events could trigger sharp reversals if the $118,800 level failed to hold [6].

Source:

[1] [Bitcoin Retests $115K Neckline Amid Bullish Momentum Ahead of Potential $118,800 Breakout](https://en.coinotag.com/bitcoin-retests-115k-neckline-amid-bullish-momentum-ahead-of-potential-118800-breakout/)

[2] [Bitcoin Retests $115K Neckline Amid Bullish Momentum Ahead of Potential $118,800 Breakout](https://en.coinotag.com/bitcoin-retests-115k-neckline-amid-bullish-momentum-ahead-of-potential-118800-breakout/)

[3] [Bitcoin Retests $115K Neckline Amid Bullish Momentum Ahead of Potential $118,800 Breakout](https://en.coinotag.com/bitcoin-retests-115k-neckline-amid-bullish-momentum-ahead-of-potential-118800-breakout/)

[4] [Bitcoin Retests $115K Neckline Amid Bullish Momentum Ahead of Potential $118,800 Breakout](https://en.coinotag.com/bitcoin-retests-115k-neckline-amid-bullish-momentum-ahead-of-potential-118800-breakout/)

[5] [Bitcoin Retests $115K Neckline Amid Bullish Momentum Ahead of Potential $118,800 Breakout](https://en.coinotag.com/bitcoin-retests-115k-neckline-amid-bullish-momentum-ahead-of-potential-118800-breakout/)

[6] [Bitcoin Retests $115K Neckline Amid Bullish Momentum Ahead of Potential $118,800 Breakout](https://en.coinotag.com/bitcoin-retests-115k-neckline-amid-bullish-momentum-ahead-of-potential-118800-breakout/)