Bitcoin News Today: Bitcoin Surges Past $118,000 Despite Recent Volatility, Institutional Adoption Sustains Recovery

Bitcoin's price has shown resilience, surging past $118,000 during the current trading session despite a recent dip to an intraday low of $114,770 on Friday [1]. The cryptocurrency's recovery over the weekend highlighted steady buying interest, with the asset settling at approximately $118,115 as of the latest session. This upward movement followed a period of volatility characterized by sharp sell-offs and a brief rebound to $119,603 earlier in the week before consolidating around $117,500. Analysts note that while Bitcoin has yet to reclaim the $120,000 psychological level, its ability to hold above $115,000 suggests continued support from buyers [1].

The price action has sparked discussions about Bitcoin's evolving dynamics, particularly regarding the impact of institutional adoption on early investors. Scott Melker, a prominent crypto analyst, observed that "many of the most ardent early whales have seen their faith shaken and have been selling at these prices," citing the asset's increasing entanglement with institutional actors as a potential challenge to its original ethos [1]. Melker emphasized that such selling decisions are often driven by personal circumstances rather than a rejection of Bitcoin itself, as noted by Mike Alfred, founder of Alpine Fox, who argued that investment returns become irrelevant in the context of life's uncertainties [1]. Meanwhile, some early adopters, like Bitcoiner Dave Weisberger, defend institutional involvement, asserting that widespread adoption hinges on collaboration with traditional financial systems [1].

Looking ahead, Bitwise’s chief investment officer, Matt Hougan, has projected a bullish outlook for 2026, suggesting the year could mark the end of Bitcoin’s four-year market cycle. Hougan contended that the halving event—the process of reducing Bitcoin’s block reward every four years—has become "half as important" over time and may no longer dictate price trends as historically observed [1]. He also cited regulatory clarity and institutional growth as factors mitigating the risk of sharp corrections. "The long-term pro-crypto forces will overwhelm the classic four-year cycle forces," Hougan stated, adding that 2026 is "an up year" in his view [1]. His forecast aligns with broader skepticism about the relevance of the halving cycle, as CryptoQuant CEO Ki Young Ju noted that traditional patterns of whale accumulation and retail participation no longer hold, with institutional adoption reshaping market dynamics [1].

Price analysis reveals a mixed short-term outlook. Bitcoin’s recent volatility included a 1.03% drop on Friday to $116,805, followed by a marginal rebound to $117,877. The asset then dipped to $117,240 by Sunday before surging over 2% on Tuesday to exceed $119,000. However, buyers have struggled to maintain momentum, with BTC retreating to $118,794 by Wednesday and settling at $117,565 on Friday after a brief rebound to $117,000 [1]. Analysts caution that while the bullish structure remains intact, aggressive price jumps are unlikely without stronger institutional buying. "It’s more sustained, steady boom than super-cycle," one analyst noted, acknowledging the potential for volatility but emphasizing resilience in the face of selling pressure [1].

Sources:

[1] [Bitcoin Price Analysis: BTC Reclaims $118,000 Despite Recent Volatility] [https://bitzo.com/2025/07/bitcoin-price-analysis-btc-reclaims-118000-despite-recent-volatility]