Bitcoin News Today: Bitcoin Re-tests $110K Support Level as $1.15B Inflows and Institutional Moves Signal 10.6% Drop from June High

Bitcoin’s price trajectory has drawn renewed attention as analysts flag the potential for a retest of the $110,000 support level amid shifts in institutional activity and market sentiment. Recent on-chain data reveals $1.15 billion in Bitcoin inflows to centralized exchanges, signaling heightened liquidity and strategic positioning by institutional participants [1]. These movements, coupled with a cooling in aggressive buying seen in derivatives metrics, suggest a possible consolidation phase following Bitcoin’s peak near $123,000 in late June [1].

A significant development came from Galaxy Digital, which transferred 30,000 BTC to exchanges in a single day, reinforcing the firm’s active role in the market. Michael Novogratz, the firm’s leader, has long emphasized institutional engagement in crypto, and this move aligns with broader profit-taking dynamics [1]. Such actions have triggered discussions about structural resets, with some observers likening the current activity to historical patterns preceding market corrections [1]. Arthur Hayes, co-founder of BitMEX, has framed deep retracements as potential buying opportunities, though his analysis hinges on Bitcoin maintaining key resistance levels to reinforce bullish structures [1].

The $110,000 threshold has emerged as a critical psychological and technical benchmark. Sustained weakness below this level could amplify volatility across the crypto market, particularly for assets like Ethereum and XRP, which show sensitivity to Bitcoin’s directional cues. Technical analyses highlight vulnerabilities, including an “air gap” at sub-peak support levels, signaling fragility in Bitcoin’s momentum [2]. Derivatives data further underscores this tension, with immediate support zones identified at $117,000 and $115,000, and resistance clusters between $119,500 and $125,000 [3]. A prolonged close below $110,000 could trigger a reassessment of bullish sentiment, especially as the total crypto market value stabilizes above $3.82 trillion [3].

Market participants are closely monitoring macroeconomic factors, though no immediate catalysts—such as ETF launches or regulatory updates—have emerged. Instead, focus remains on technical levels and on-chain metrics. The relative strength index (RSI) and cooling derivative activity indicate a potential pause in the rally, with traders navigating a tug-of-war between consolidation and correction risks [3]. A “Max Pain” level of $112,000 has also been cited as a pivotal price range, where outcomes could shape short-term volatility [6].

The coming days will be critical, particularly as $15 billion in Bitcoin options approach expiration. Sustained institutional discipline has kept Bitcoin above $107,500 so far, but recent breakdowns below $115,000 and aggressive sell-side momentum highlight the risks of deeper retracements [6]. Analysts caution that while pullbacks might offer entry points, a breakdown of $110,000 could reignite broader market fears. The outcome will likely influence not just Bitcoin but also altcoins, which closely track its movements [1].

Sources:

[1] [Bitcoin Sustains Key Level, Market Watches Critical $110K Support](https://coinmarketcap.com/community/articles/68840ff08db2ba68f65654be/)

[2] [Bitcoin's $117K Air Gap and Volatility Compression Signal](https://www.ainvest.com/news/bitcoin-news-today-bitcoin-117k-air-gap-volatility-compression-signal-potential-major-market-shift-2507/)

[3] [Bitcoin Perpetual Futures Technical Levels](https://in.tradingview.com/symbols/BTCUSD.P/ideas/?exchange=DELTA)

[6] [Crypto Bull Run 2025](https://coindcx.com/blog/crypto-deep-dives/crypto-bull-run-2025/)