Bitcoin News Today: Bitcoin slides 0.16% below $118K amid profit-taking and macroeconomic uncertainty

Bitcoin’s price slid below $118,000 in late July 2025, marking a 0.16% decline over 24 hours amid a broader market correction driven by profit-taking and macroeconomic uncertainties. The decline was exacerbated by outflows from U.S.-listed spot Bitcoin ETFs, which recorded three consecutive days of net redemptions [1]. The price retreat tested the $116,200 support zone, reflecting a consolidation phase after failing to break through the $120,000 resistance level [2].

The selloff coincided with heightened volatility in leveraged trading, where over $700 million in positions were liquidated, with 85.3% of those being long positions [3]. Market participants observed that Bitcoin’s Relative Strength Index (RSI) remained in a sideways pattern, indicating indecision among traders as the asset stabilized within a narrow range between $118,000 and $118,500 [4]. Analysts noted that the price action suggested an imminent breakout, though the direction remained uncertain [5].

The correction was part of a broader cryptocurrency market downturn, with altcoins like Solana (SOL) and Cardano (ADA) experiencing sharper declines. However, Bitcoin’s resilience compared to other assets—losing only 0.55%—highlighted its relative stability amid the turmoil [6]. Institutional accumulation of BNB, which reached a record high, underscored divergent market dynamics across different digital assets [7].

Technical analyses emphasized the importance of the $118,000 level as a critical psychological and structural support. A sustained break below $116,200 could trigger further downward momentum, while a rebound above $118,500 might reinvigorate bullish sentiment. The failure to reclaim the $120,000 threshold signaled caution among investors, who were increasingly prioritizing risk management amid macroeconomic headwinds [8].

The broader market context included geopolitical tensions, as U.S. President Donald Trump’s threats to raise tariffs on trade partners weighed on risk assets. While a deal with Japan reduced tariffs to 15%, uncertainty around future agreements contributed to a risk-off environment [9]. Despite these pressures, periodic rebounds, such as Bitcoin’s brief ascent above $118,000 following trade deal speculation, indicated lingering demand for the asset [10].

The market correction unfolded against a backdrop of $3.87 trillion in global crypto market capitalization and $195 billion in daily trading volumes, reflecting a 12% decline in liquidity over 24 hours. While short-term volatility persisted, long-term investors remained focused on institutional adoption and regulatory clarity, which could stabilize the market in the coming months [11].

Werner Brönnimann, an investment manager, emphasized the institutional capital shift rather than past retail-led cycles: “Bitcoin’s recent push to over $123,000 and breaching $4 trillion market cap appears to represent a fundamental shift in market dynamics. This shift is driven primarily by institutional capital, not ‘the retail-led manias of previous cycles.’” [12]

Source:

[1] [Bitcoin Dips 0.16% Below $118K as Profit-Taking and Macro Caution Weigh](https://www.ainvest.com/news/bitcoin-news-today-bitcoin-dips-0-16-118k-profit-macro-caution-weigh-2507/)

[2] [Bitcoin Price Consolidates—Is a Downside Correction on the Horizon?](https://cryptorank.io/news/feed/fb838-bitcoin-price-consolidates-119k)

[3] [Crypto Markets Dip, Liquidating Over $700M from Leveraged Traders](https://www.fxstreet.com/cryptocurrencies/news/crypto-markets-dip-liquidating-over-700-million-from-leveraged-traders-853-being-longs-202507240429)

[4] [Support and Resistance Narrow—Breakout Imminent?](https://news.bitcoin.com/bitcoin-price-watch-support-and-resistance-narrow-breakout-imminent/)

[5] [Bitcoin Price Sets Up for Another Move](https://cryptorank.io/news/feed/8551e-bitcoin-price-sets-up-increase-120k)

[6] [Crypto Market Crashes Amid Trump's Tariff Threats](https://coingape.com/crypto-market-crashes-amid-trumps-threat-to-increase-tariffs/)

[7] [Crypto Market Crashes Amid Trump's Tariff Threats](https://coingape.com/crypto-market-crashes-amid-trumps-threat-to-increase-tariffs/)

[8] [Bitcoin Price Forecast: BTC Slides Below $118,500 as ETFs Record Outflows](https://www.fxstreet.com/cryptocurrencies/news/bitcoin-price-forecast-btc-slides-below-118-500-as-etfs-record-three-straight-days-of-outflows-202507241028)

[9] [Crypto Market Crashes Amid Trump's Tariff Threats](https://coingape.com/crypto-market-crashes-amid-trumps-threat-to-increase-tariffs/)

[10] [Crypto Market Crashes Amid Trump's Tariff Threats](https://coingape.com/crypto-market-crashes-amid-trumps-threat-to-increase-tariffs/)

[11] [Crypto Market Crashes Amid Trump's Tariff Threats](https://coingape.com/crypto-market-crashes-amid-trumps-threat-to-increase-tariffs/)

[12] [Bitcoin Prices Dip Below $118,000 Amid Market Correction](https://coinmarketcap.com/community/articles/6882493e3af4fb0d5babaef3/)