Bitcoin News Today: Bitcoin Stalls in $112K Battle as a New PayFi Star Rises

Bitcoin's price remains in a critical consolidation phase as it struggles to break out of a tight trading range between $112,000 and $120,000. Recent data shows mixed signals, with bears emphasizing rising inflows into exchanges and potential whale distribution as indicators of downward pressure. Conversely, bulls highlight declining exchange reserves, strong institutional ETF inflows, and record-low miner selling as support for a potential move toward $120,000 or higher. If Bitcoin maintains its position within an ascending channel, a target of $131,000 could be on the horizon this fall, according to a Standard Chartered analyst [1].

Technical analysis from recent price movements suggests that a retest of the $112,000 level is likely if Bitcoin fails to break above $118,000. The price has dipped below the $116,500 mark, with key resistance forming around $118,000. The bearish trend line, combined with the relative strength index (RSI) and moving average convergence divergence (MACD) indicators currently in bearish zones, suggests potential for further downside [2]. However, derivatives activity, ETF flows, and stablecoin demand provide counterpoints. The Bitcoin options skew has reached four-month highs, indicating heightened fear, while spot ETF outflows remain manageable, suggesting that the market has absorbed recent volatility [3].

Top traders on platforms such as OKX and Binance have not significantly reduced their long positions, implying confidence in the market’s resilience. The long-to-short ratio has stabilized, indicating that traders may be waiting for a potential retest of $112,000 before committing further capital [3]. Meanwhile, stablecoin demand in China, particularly Tether (USDT), is trading at a 0.8% discount, reflecting mild fear but not a significant flight from crypto. The stability of this metric suggests no worsening sentiment, reinforcing the argument that the recent correction is temporary [3].

While Bitcoin remains in a state of indecision, attention in the crypto market has shifted to Remittix (RTX), a low-cap project gaining traction as a potential 2,000% mover. RTX, unlike traditional altcoins or meme tokens, is positioned as a utility-driven PayFi project with a focus on real-world adoption. The token has already secured $20 million in funding and is preparing for a listing on BitMart. Its cross-chain payment system, which supports instant transfers between crypto and fiat, is being framed as a disruptive force in the $19 trillion global payments market [1].

Investors are drawn to RTX’s practical use case, including its ability to send funds directly to bank accounts in 30+ countries, its support for 40+ cryptocurrencies, and its integration with merchant APIs for instant fiat settlement. CertiK-audited smart contracts and a growing ecosystem have added to its appeal, particularly as the project approaches a $22 million fundraising milestone that could unlock further CEX listings [1]. With a planned wallet beta launch on September 15, 2025, and a $250,000 promotional giveaway, RTX’s momentum appears to be accelerating [1].

Analysts argue that while Bitcoin may eventually reach $120,000, the gains are relatively modest compared to the potential offered by projects like Remittix. RTX is being compared to Solana and Ethereum in terms of its growth trajectory, with some suggesting it could deliver 70x returns for early adopters. Its focus on global adoption, institutional readiness, and a well-structured roadmap sets it apart from speculative assets, making it a compelling alternative for investors seeking high-impact opportunities in the crypto space [4].

Source:

[1] Bitcoin (BTC) Price: $120K or $112K Next? – Meanwhile, Speculation Points to a 2,000% Run for Remittix (https://blockonomi.com/bitcoin-btc-price-120k-or-112k-next-meanwhile-speculation-points-to-a-2000-run-for-remittix/)

[2] Bitcoin Price Extends Decline, Could Test $112K Before ... (https://www.newsbtc.com/analysis/btc/bitcoin-price-extends-decline-115k/)

[3] Was the Bitcoin price bottom $114.7K?: Data suggests it's ... (https://cointelegraph.com/news/was-the-bitcoin-price-bottom-dollar114-7k-data-suggests-it-s-time-for-a-reversal)

[4] If BONK Is This Cycle's DOGE, Then Remittix Might Just Be ... (https://crypto-economy.com/if-bonk-is-this-cycles-doge-then-remittix-might-just-be-this-cycles-solana-and-then-some/)