Bitcoin News Today: Bitcoin Stabilizes at $118K as 73,000 BTC Support Zone Bolsters Long-Term Demand

Bitcoin’s price has stabilized near $118,000 amid strong on-chain support, with over 73,000 BTC held in wallets purchased between $117,259 and $117,468. This cluster of holdings has created a well-defined support zone that has absorbed recent dips to $116,000, signaling sustained demand rather than speculative trading [1]. Analysts attribute the stability to long-term positioning, as investors appear to be maintaining their stakes despite short-term volatility. The concentration of holdings in this range reflects a market floor reinforced by actual investor behavior, rather than reliance on technical indicators alone.

The cryptocurrency’s consolidation near $118,800 has been marked by reduced volatility and a lack of decisive price movement, indicating a period of equilibrium among market participants [1]. This phase follows a broader trend of investors prioritizing accumulation over aggressive trading, with over $8 billion in spot value concentrated in the $117,000–$118,000 range. Such behavior suggests confidence in Bitcoin’s long-term fundamentals, as holders resist selling pressure during pullbacks.

Coinotag’s analysis highlights the significance of the $117,000 support level, noting that its resilience could serve as a foundation for future upside potential. The cost-basis heatmap further underscores investor conviction, with a high proportion of wallets maintaining positions despite price fluctuations. This dynamic contrasts with speculative-driven markets, where short-term trading often dominates. The absence of large-scale selling activity in this range also reduces the risk of a bearish cascade, providing a buffer against further declines [1].

Meanwhile, the broader market has seen a shift in capital toward altcoins as Bitcoin remains range-bound. On July 28, 2025, altcoins such as Solana (SOL), Cardano (ADA), and Dogecoin (DOGE) surged, with some recording double-digit gains [2]. This divergence reflects investor appetite for high-growth assets during periods of Bitcoin consolidation, a pattern historically observed in crypto markets. However, the sustainability of these gains depends on Bitcoin’s ability to reassert dominance in the coming weeks.

Market analysts emphasize that the stability of 73,000 BTC holders—wallets maintaining their positions for over a year—signals a resilient base of long-term belief in Bitcoin’s value. Sustained support at $118,000 could reinforce bullish technical signals if on-chain metrics like the MVRV ratio and net profit ratio align with accumulation patterns. Conversely, failure to break above $120,000 might trigger profit-taking, particularly if macroeconomic uncertainty, such as U.S. regulatory developments, reemerges as a factor [2].

The interplay between Bitcoin’s price action and macroeconomic conditions remains critical. With the U.S. Federal Reserve’s policy trajectory still ambiguous, investors are closely monitoring how Bitcoin responds to shifting interest rate expectations. A prolonged consolidation phase near $118,000 could test the resolve of both retail and institutional holders, especially if broader risk appetite wanes. However, the 73,000 BTC cohort’s steadfastness provides a counterbalance to potential selling pressure, mitigating the likelihood of a bearish cascade [2].

As the market navigates this consolidation phase, the focus remains on whether Bitcoin can transition from a stabilization period to a new bullish cycle. The 73,000 BTC support zone represents a key technical level, with its integrity likely to influence near-term price direction. Investors are advised to monitor both on-chain activity and macroeconomic developments to gauge the likelihood of a sustained breakout above $120,000.

Source: [1] [Bitcoin Near $118,000 Shows Potential Support as 73,000 BTC Holders Maintain Position](https://en.coinotag.com/bitcoin-near-118000-shows-potential-support-as-73000-btc-holders-maintain-position/) [2] [Altcoins Pop as Bitcoin Stalls Near $120K: Crypto Daybook](https://www.coindesk.com/daybook-us/2025/07/28/altcoins-pop-as-bitcoin-stalls-near-usd120k-crypto-daybook-americas)