Bitcoin News Today: Bitcoin Surges Past $118,000, Posts 0.54% 24-Hour Gain on Bullish Technical Signs

Generated by AI AgentCoin World
Saturday, Jul 26, 2025 2:17 pm ET1min read
BTC
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Aime RobotAime Summary

- Bitcoin surges past $118,000, trading near $118,095 amid a tightening falling wedge pattern between $115,086 and $118,102.

- Bulls defend critical $116,000–$117,000 support, with 24-hour on-chain volume hitting $29.9 billion and a 0.54% price gain.

- Citi forecasts $135,000–$199,000 by year-end, contrasting Galaxy Digital’s $1.5B sell-off and bearish targets at $110,000–$112,000.

- Mixed RSI/MACD signals highlight tug-of-war between institutional adoption and volatility, as market cap exceeds $2.3 trillion.

Bitcoin’s price has surged past $118,000, with bulls demonstrating renewed strength amid a technical consolidation phase. The cryptocurrency traded near $118,095 as of late July 2025, marking a key milestone after a month of tight price action between $115,000 and $120,000 [1]. Analysts highlight a critical support zone around $116,000–$117,000, where buyers have repeatedly intervened to defend against downward pressure [2]. A decisive breakout above $118,000 could signal broader institutional confidence, though volatility remains a defining feature of the market.

Technical indicators suggest a bullish bias.

Bitcoin
has formed a falling wedge pattern, with price action confined between $115,086 (support) and $118,102 (resistance) [3]. This pattern typically precedes a directional break, and bulls have shown resilience in holding key support levels [4]. Recent data from CoinMarketCap shows a 0.54% 24-hour gain, pushing Bitcoin to $118,507.88 [5]. Meanwhile, on-chain activity reveals a 24-hour trading volume of $29.9 billion, underscoring heightened liquidity [6].

The surge aligns with broader market optimism, though forecasts vary. Citi’s base-case scenario projects a year-end price of $135,000 for Bitcoin, with a bullish scenario envisioning $199,000 by 2025 [7]. However, this contrasts with more cautious analyses. Galaxy Digital’s recent $1.5 billion sell-off has introduced uncertainty, with bears targeting a potential pullback to $112,000–$110,000 if downward momentum persists [8]. Short-term volatility remains within historical norms, with a -6% pullback following a $123,000 high still within the 2.2% range of weekly averages [9].

Market participants are closely watching key resistance levels. A successful push above $118,000 could trigger a retest of the previous high at $123,000, while failure to hold $116,000 may reignite bearish sentiment. The Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD) show mixed signals, indicating a tug-of-war between bullish and bearish forces [10]. Institutional adoption and macroeconomic factors, including global liquidity trends, are expected to play pivotal roles in the near term [11].

The recent price action reflects a maturing market. While Bitcoin’s 24-hour gain of 1.44% to $117,624 demonstrates short-term resilience [12], long-term investors remain focused on structural trends. The cryptocurrency’s market capitalization exceeds $2.3 trillion, with fully diluted valuation (FDV) matching current levels [13]. As the market navigates this critical juncture, analysts emphasize the importance of on-chain data and institutional positioning in shaping the next phase of Bitcoin’s trajectory.

Source:

[1] [Bitcoin Trapped in Tightening Falling Wedge](https://www.ainvest.com/news/bitcoin-news-today-bitcoin-trapped-tightening-falling-wedge-118-102-resistance-holds-1-1-rebound-2507/)

[2] [Bulls Defend $116K–$117K Support](https://coinpedia.org/press-release/bitlemons-blem-poised-for-growth-as-btc-tests-resistance-eth-surges/)

[3] [Falling Wedge Pattern Analysis](https://www.ainvest.com/news/bitcoin-news-today-bitcoin-trapped-tightening-falling-wedge-118-102-resistance-holds-1-1-rebound-2507/)

[4] [Bullish Pressure Below $118K](https://coinpedia.org/press-release/bitlemons-blem-poised-for-growth-as-btc-tests-resistance-eth-surges/)

[5] [Bitcoin Price at $118,507.88](https://www.msn.com/en-in/autos/photos/cryptocurrency-price-today-july-23-bitcoin-remains-above-118-000-flare-becomes-top-gainer/ar-AA1J7nda)

[6] [On-Chain Trading Volume](https://www.coingecko.com/en/coins/bitcoin/usd)

[7] [Citi’s 2025 Price Forecast](https://thecryptobasic.com/2025/07/25/citi-forecasts-bitcoin-to-reach-199k-by-year-end/)

[8] [Galaxy Digital’s Sell-Off](https://www.newsbtc.com/bitcoin-news/bitcoin-price-bleeds-galaxy-digital-1-5-billion-sell-off/)

[9] [Volatility Within Normal Range](https://www.mitrade.com/insights/news/live-news/article-3-987518-20250725)

[10] [Mixed RSI and MACD Signals](https://x.com/btctn)

[11] [Global Liquidity Impact](https://www.bitcoin.com)

[12] [1.44% 24-Hour Gain](https://www.ainvest.com/news/bitcoin-news-today-bitcoin-rises-1-44-bulls-defend-97k-support-eye-125k-breakout-2507/)

[13] [Market Cap and FDV Data](https://www.coingecko.com/en/coins/bitcoin/usd)