Bitcoin News Today: Bitcoin Surges Past $117,500 Amid 35% Trading Volume Spike Following U.S.-EU Trade Agreement

Bitcoin’s price has surged past $117,500, igniting discussions in the cryptocurrency market and drawing attention to broader economic and institutional factors. The rally, which briefly pushed Bitcoin to $119,000 following the U.S.-EU trade agreement on July 19, reflects reduced macroeconomic risks and renewed institutional confidence [14]. Technical indicators, including the “Cup and Handle” and “Inverse Head and Shoulders” patterns, suggest sustained upward momentum, with a key support level at $112,000 reinforced by a 35% surge in trading volume [5]. Despite volatility, Bitcoin has stabilized above $115,000, with analysts comparing its trajectory to historical bull cycles [14].

Coinbase’s recent listing of Treehouse (TREE), a new altcoin, has added to market dynamics. The platform, which also supports TREE on Binance and ByBit, flagged the token as “experimental” with risk warnings [1]. While the listing did not trigger significant price movements, TREE’s $109 million market cap and $282 million trading volume have attracted speculative activity [1]. In contrast, Coinbase announced it would not support the Arena-Z (A2Z) transformation of LOKA, highlighting the platform’s selective approach to altcoin listings [1].

Market participants remain focused on macroeconomic signals, particularly U.S. Federal Reserve Chair Jerome Powell’s upcoming remarks, which could clarify the trajectory of 2025 interest rate cuts [1]. Institutional activity further fuels optimism, with Michael Saylor’s Strategy Inc. increasing Bitcoin accumulation [10]. Retail investors, meanwhile, have driven a 106% price rally in recent weeks, reflecting speculative fervor [11].

Price forecasts vary but share a cautiously bullish outlook. Coindoo predicts Bitcoin could reach $160,000 by year-end, drawing parallels to gold’s historical performance [6]. Finbold projects a 35% rally in Q4 based on comparative price cycles [2], while Bitwise CIO Matt Hougan speculates Bitcoin may extend gains into 2026, defying its traditional four-year cycle [8]. These predictions hinge on Bitcoin maintaining consolidation above $115,000 and navigating resistance zones. The $148,000 target, derived from the “Cup and Handle” pattern, remains a focal point for traders [1].

On-chain data underscores Bitcoin’s dominance, with its market share rising to over 62%, a 23% increase since mid-2024 [3]. This trend aligns with a 45% rise in buyer inflows and a 288% surge in Ethereum’s on-chain volume over three weeks [12]. However, macroeconomic risks—particularly U.S.-China trade policy—remain a wildcard, potentially disrupting short-term gains [13].

Bitcoin’s ability to hold above critical support levels, such as $112,000 and $104,000, suggests a viable path to $130,000. A breakdown below $112,000 could trigger a retreat to $90,000 [5]. Market attention now centers on validating the $148,000 target, a level analysts view as pivotal for confirming the bullish narrative [1].

Source: [1] CoinMarketCap Community [https://coinmarketcap.com/community/articles/68891dc431246d0e3959fcae/], [2] Finbold [https://finbold.com/analyst-predicts-bitcoin-price-for-q4/], [3] AInvest [https://www.ainvest.com/news/bitcoin-dominance-nears-64-resistance-23-percentage-points-rise-mid-2024-shift-capital-altcoins-2507/], [5] AInvest [https://www.ainvest.com/news/bitcoin-news-today-bitcoin-nears-122k-breakout-82b-inflows-fuel-bullish-momentum-tightening-wedge-pattern-2507/], [6] Coindoo [https://coindoo.com/bitcoin-may-be-entering-final-rally-phase-historical-data-shows/], [8] Bitwise CIO Matt Hougan (no URL provided), [10] CoinCentral [https://coincentral.com/michael-saylor-signals-strategys-next-big-bitcoin-accumulation-move/], [11] AInvest [https://www.ainvest.com/news/bitcoin-news-today-bitcoin-surges-106-final-wave-gains-momentum-driven-retail-institutional-frenzy-2507/], [12] Mitrade [https://www.mitrade.com/insights/news/live-news/article-3-990030-20250727], [13] CoinCentral [https://coincentral.com/bitcoin-price-nears-record-high-amid-us-china-tariff-truce-talks/], [14] TradingView [https://www.tradingview.com/news/newsbtc:b4a9d9464094b:0-bitcoin-endures-one-of-the-most-intense-bear-weeks-of-this-bull-cycle-details/].