Bitcoin News Today: Bitcoin Rises 0.4% But Whale Inflows Signal Potential Drop to $110,000

Bitcoin's recent price movements have drawn attention from market analysts as the cryptocurrency encounters a critical resistance level. Following a brief surge to $119,760, Bitcoin (BTC) has retreated, with traders and experts observing signs of potential downward pressure. The top digital asset is currently trading at $118,926, a 0.4% increase over the past 24 hours, but faces challenges in breaking through the $120,000 threshold [1].

Key concerns stem from a notable rise in whale inflows to Binance, the largest cryptocurrency exchange by volume. According to CryptoQuant contributor BorisVest, Binance’s Whale Inflow metric surged by $1.2 billion on July 25, reflecting heightened institutional participation in exchange deposits [1]. This activity coincided with the liquidation of approximately $141 million worth of BTC long positions between July 24 and 25, as reported by CoinGlass [1]. While retail investors have also increased exchange deposits, their activity remains relatively minor compared to whale-driven selling, raising questions about market fragility.

The timing of these inflows aligns with Bitcoin’s rejection at $120,000. Analysts note that the $115,000–$116,000 range has since emerged as a short-term support zone. If this level fails, a decline toward $110,000 becomes increasingly likely [1]. Conversely, a strong rebound from the current range could see Bitcoin retest the $121,000 level or attempt a new all-time high. Titan of Crypto, another market observer, emphasized that a decisive break above $119,900 would signal further upside potential [1].

Exchange data provides additional context. Centralized exchange BTC reserves recently reached a one-month high, suggesting anticipation of a temporary consolidation phase. However, Binance’s share of BTC spot trading volume has risen sharply, hinting at renewed bullish momentum [1]. On-chain metrics show Bitcoin’s 30-day cumulative inflow to Binance surged during the week of July 25, compounding near-term uncertainty.

The interplay between whale activity and technical levels underscores the market’s precarious positioning. Historical patterns indicate that Bitcoin often retraces after hitting key resistance before mounting further advances. Yet the current environment, marked by heavy institutional selling and volatile positioning, complicates traditional price projections. Analysts stress that the market’s ability to absorb whale-driven sell-offs will be critical in determining Bitcoin’s trajectory over the next few weeks.

Sources: [1] [Bitcoin Rejected At $120,000: Binance Whale Inflows Suggest Possible Drop To $110,000](https://www.newsbtc.com/bitcoin-news/bitcoin-120000-binance-whale-inflows-110000/)