Bitcoin News Today: Bitcoin Retreats to $118,900 as Binance Whale Inflows Surge $1.2B Pressuring $110,000 Support

Bitcoin’s recent struggle to breach the $120,000 resistance level has intensified speculation about near-term volatility, with data from Binance indicating a surge in whale inflows that could pressure the price toward $110,000. On July 25, Bitcoin reached a high of $119,760 before retreating to $118,900, a move attributed to increased selling pressure from large institutional deposits. The 30-day cumulative inflow to Binance alone spiked by $1.2 billion on that day, according to CryptoQuant contributor BorisVest, while CoinGlass reported $141 million in BTC long positions liquidated between July 24 and 25 [1]. This institutional activity contrasts with relatively subdued retail inflows, underscoring that whale-driven trades are likely the primary driver of the recent downturn [1].

The timing of the whale inflows aligns with Bitcoin’s rejection at $120,000, a key psychological threshold. Analysts note that the $115,000–$116,000 range has since emerged as short-term support. If this level fails, the $110,000 level becomes a plausible target, while a successful rebound could retest $121,000 or even challenge the $119,900 level for a potential new all-time high [1]. Titan of Crypto highlighted the $119,900 level as a critical breakout point, suggesting a decisive close above it could reignite bullish momentum [1].

Exchange data further complicates the outlook. BTC reserves on centralized exchanges recently hit a one-month high, indicating some holders are preparing for a temporary pullback. However, Binance’s share of BTC spot trading volume has surged, hinting at possible renewed buying interest. At press time, Bitcoin traded at $118,926, reflecting a 0.4% gain over the previous 24 hours [1].

The market’s sensitivity to whale activity is compounded by dealer gamma positioning, which remains heavily short. This setup encourages dealers to hedge by buying low and selling high, amplifying volatility. CoinGlass data also highlights the $119,650 “max pain” level, where a breakout could trigger over $1.1 billion in short liquidations [2]. Meanwhile, Japanese investment firm Metaplanet’s accumulation of 780 BTC ($92 million) underscores institutional confidence, with the firm now holding 17,132 BTC valued at $1.7 billion [2].

Technical indicators offer mixed signals. The 14-day RSI at 64.11 suggests buyers remain active but have yet to push Bitcoin into overbought territory. A sustained close above $119,500 could validate the bullish case, while a drop below $114,500 may deepen the correction. Historical patterns, such as prior surges exceeding 100% after rebounds from the $120,000 level, provide optimism, though geopolitical risks and macroeconomic factors remain unpredictable variables [2].

As the market navigates this critical phase, the interplay between institutional accumulation, speculative selling, and technical levels will likely determine Bitcoin’s trajectory. Traders are closely monitoring whale inflows, liquidity clusters, and exchange volume to assess the likelihood of a $110,000 support test or a renewed push toward $125,000 [1].

Source: [1] [Binance Whale Inflows Suggest Possible Drop To $110,000] [https://www.newsbtc.com/bitcoin-news/bitcoin-120000-binance-whale-inflows-110000/]; [2] [Bitcoin Eyes $155K After Strong Rebound – But Can It Break $120K] [https://coinnews.com/news/bitcoin/bitcoin-eyes-155k-after-strong-rebound-can-it-break-120k]