Bitcoin News Today: Bitcoin Stabilizes Near $117,000 as On-Chain Data Highlights Critical Support Zone

Bitcoin’s price has stabilized near $117,000, with accumulating holdings at this level suggesting a critical support zone amid market volatility. On-chain data from Glassnode reveals that approximately 73,000 BTC are held at this price point, indicating sustained investor confidence and reduced exchange supply. This accumulation reflects a maturing market structure, where buying pressure counteracts downward momentum, reinforcing Bitcoin’s resilience during periods of uncertainty [1]. The price level has become a focal point for traders, acting as both a psychological and technical anchor that absorbs sell-offs and supports long-term growth potential.

The accumulation trend underscores strong investor conviction, with on-chain analytics highlighting consistent buying activity despite macroeconomic risks. Addresses holding BTC acquired near $117,000 have retained their positions, signaling a shift toward long-term ownership and reducing short-term liquidity on exchanges. This dynamic creates upward price pressure if demand increases, as observed in recent weeks when Bitcoin briefly dipped to $115,000 before rebounding [3]. Analysts note that sustained accumulation at this level reinforces market stability, with the $117,000 zone serving as a buffer against sharp declines.

Technical indicators further validate the significance of this support. The price’s ability to rebound from $115,000 after hitting a record high of $123,000 in mid-July has drawn attention to the $117,000–$117,500 range as a key structural support area. This level aligns with Bitcoin’s 70-period exponential moving average (EMA), a metric historically associated with bullish trend continuation. Traders monitoring platforms like TradingView have identified this range as a critical threshold, with sustained buying activity reinforcing its validity [6].

Institutional demand and ETF inflows have also played a role in stabilizing Bitcoin’s trajectory. A 4% surge in open interest to $4 billion, driven by whale activity, highlights renewed bullish momentum [3]. CoinCentral attributes a $3,000 price recovery to increased ETF demand, which has bolstered broader market sentiment. Citi projects $15 billion in net ETF inflows for 2025, nearly double earlier estimates, and forecasts a year-end price target of $135,000, with an optimistic scenario reaching $199,000 [8]. These projections, however, remain contingent on maintaining support above $110,000, as highlighted by AInvest [2].

While the $117,000 support zone offers a foundation for growth, market participants must remain cautious. Broader macroeconomic factors, including potential central bank interventions and regulatory shifts, could introduce volatility. The week of July 28 saw heightened anticipation of data releases from the Federal Reserve and Bank of Japan, which could reshape sentiment. Nonetheless, Bitcoin’s dominance in the crypto market has insulated it from some sector-wide risks, allowing it to absorb fluctuations while maintaining its trajectory [9].

Investors leveraging on-chain data and technical indicators are advised to monitor key price levels and institutional activity. Strategies such as Dollar-Cost Averaging (DCA) and diversification can mitigate risks associated with short-term volatility. The accumulation at $117,000 reflects a broader shift toward long-term value appreciation, with sustained buying pressure signaling a maturing asset class. As the market approaches pivotal technical thresholds, the interplay between macroeconomic trends and institutional adoption will likely dictate Bitcoin’s next move.

Source:

[1] [Bitcoin Accumulation Near $117,000 Suggests Potential Support Amid Market Uncertainties](https://en.coinotag.com/bitcoin-accumulation-near-117000-suggests-potential-support-amid-market-uncertainties/)

[2] [Bitcoin's $130K Outlook Tied to $110K Support, ETF Inflows Surge 82B in 30 Days](https://www.ainvest.com/news/bitcoin-news-today-bitcoin-130k-outlook-tied-110k-support-etf-inflows-surge-82b-30-days-2507/)

[3] [$4B Increase In Bitcoin Open Interest Fueled By Whale Activity](https://www.mitrade.com/insights/news/live-news/article-3-989482-20250727)

[6] [Bitcoin Trade Ideas — BITSTAMP:BTCUSD](https://www.tradingview.com/symbols/BTCUSD/ideas/page-2/?sort=recent)

[8] [Citi Predicts Bitcoin to Hit $135K by Year-End 2025](https://www.ainvest.com/news/citi-predicts-bitcoin-to-hit-135k-by-year-end-2025/)

[9] [Forex Signals Brief July 28: Data Tsunami as Fed, BoJ, GDP & Tariffs Line Up to Shake Markets](https://www.ainvest.com/news/forex-signals-brief-july-28-data-tsunami-as-fed-boj-gdp-tariffs-line-up-to-shake-markets/)