Crypto analytics platform Glassnode is saying Bitcoin (BTC) has proven its resilience after a massive stash of the flagship digital asset was sold off last weekend.

Glassnode says an unnamed investor disposed of Bitcoin worth nearly $10 billion via Galaxy Digital last weekend, demonstrating Bitcoin’s “growing liquidity profile and market depth.”

“This liquidity was put to the test over the weekend, as an early Bitcoin investor, via Galaxy Digital’s services, distributed 80,000 BTC (approximately $9.6 billion), likely through a mix of market sales and [over-the-counter] OTC transactions. The resulting sell-side pressure drove the price down to $115,000 before stabilizing at $119,000.

This episode illustrates Bitcoin’s ability to absorb large sell-side volumes, even during typically thinner weekend trading hours, reinforcing the market’s structural robustness.”

The analytics platform says that a “super-majority” of Bitcoin holders are currently sitting on significant unrealized profits, with more than 97% of the circulating supply in the black.

“This underscores how the majority of investors are sitting on substantial paper gains, and sets up an environment of potential future sell-side pressure should prices continue to rise further.”

According to Glassnode, profit-taking could “sharply intensify” if Bitcoin goes up by around 20% from the current level.

“…Bitcoin may remain range-bound between $105,000 and $125,000 until a decisive breakout occurs. Should the market break convincingly higher, the $141,000 region is likely to present the next major zone of resistance where sell-side pressure may intensify rapidly…”

Bitcoin is trading at $117,651 at time of writing.

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Crypto Journalist

Anas Hassan

Crypto Journalist

Anas Hassan

About Author

Anas is a crypto native journalist and SEO writer with over five years of writing experience covering blockchain, crypto, DeFi, and emerging tech.

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Last updated: 

July 20, 2025

Bitcoin’s recent peak at $123,100 has triggered warnings of a potential local top as on-chain metrics signal overextension.

The cryptocurrency quickly retraced 6% to around $115,700 after hitting the all-time high, with advanced NVT signals crossing above historical red deviation bands that typically coincide with cycle peaks.

The current bull market’s largest pullback remains only 23.48%, well below previous cycle corrections of 30-80%, indicating the underlying trend structure remains healthy despite short-term overextension signals.

Technical analysis reveals that Bitcoin is consolidating within a symmetrical triangle pattern, with support between $116,000 and $117,000 and descending resistance around $120,000.

Triangle Consolidation Tests $125,000 Breakout

Bitcoin’s 4-hour chart indicates consolidation within a symmetrical triangle pattern, with the apex approaching around $117,837.

The formation creates compression between descending resistance and ascending support at $116,000-$117,000, building energy for eventual directional resolution.

This coiling effect typically precedes a significant expansion of volatility.

A bullish breakout above the red trendline would likely trigger a move toward $125,000, representing approximately a 6% upside from current levels.

Conversely, a breakdown below the green support level could drive prices toward $111,000, marking a roughly 6% downside risk.

The symmetrical nature suggests neither bulls nor bears have gained decisive control.

Multiple-layered support zones provide cushioning for potential declines, with institutional buying historically emerging at these levels.

The eventual breakout direction becomes crucial for determining near-term momentum and validating either continuation or correction scenarios.

Global Liquidity Cycle Enters Distribution Phase

According to Merlijn The Trader, Bitcoin’s correlation with the global M2 money supply reveals that the cryptocurrency has transitioned into “Distribution” territory from its previous “Accumulation” and “Manipulation” phases.

This macro framework suggests that while liquidity expansion continues supporting Bitcoin’s advance, explosive gains may become more measured and volatile as the cycle matures.

Complex Fibonacci analysis has also projected Bitcoin’s cycle peak timing toward October, suggesting a more extended timeline than immediate parabolic acceleration.

The $133,665 – $151,539 resistance zone represents ultimate targets, but the path involves multiple consolidation phases rather than linear advance.

Current levels around $117,000-$118,000 correspond to substantial volume clusters where institutional accumulation and distribution have occurred.

This technical congestion creates multiple layers of support and resistance that require patience to navigate effectively during the Distribution phase.

Best Wallet: Final Opportunity to Secure $BEST Tokens

Best Wallet’s $BEST token presale is approaching its final phase, offering one last chance for investors to secure positions before the allocation is sold out permanently.

The token offers reduced fees, early access to presales, and staking rewards, which are perks rare in projects.

$BEST token holders unlock multiple revenue streams through the expanding ecosystem.

Reduced trading fees and priority access to new project launches become increasingly valuable as Bitcoin approaches cycle peaks and altcoin opportunities multiply.

The token’s utility extends beyond basic wallet functions. Best Wallet’s version 2.5.1 introduced full Bitcoin support alongside 60+ blockchain compatibility, providing secure non-custodial storage during uncertain market periods.

Integration with the Rubic exchange aggregator enables optimal swap rates across 200+ DEXs, which is essential for portfolio rebalancing as Bitcoin tests key resistance levels.

The platform’s upcoming crypto-backed debit cards and advanced trading tools position users for the next phase of the cycle.

With Bitcoin potentially reaching $125,000+ or facing $111,000 correction risks, having exposure to both secure storage infrastructure and the underlying $BEST token creates diversified opportunities.

The presale’s limited remaining allocation and approaching completion create a final window for early adopter advantages.

However, the Hash Ribbon, which measures miner stress and recovery using 30-day and 60-day hash rate moving averages, has now flashed its eighth major buy signal in BTC’s history.

Developed by Charles Edwards, this signal occurs when the 30-day MA crosses above the 60-day MA, suggesting miner capitulation has ended. Historically, BTC has never dropped lower in 85% of previous cases following this signal.

Market commentators, including Bitcoin Archive, emphasize that in all seven prior instances, BTC rallied significantly post-signal, with no false triggers.

• BTC is down 3.9% over 24 hours, trading at $84.5K
• Hash Ribbon signal appeared only 20 times in BTC’s history
• Historically accurate in 85% of cases, signaling limited downside

Mixed Market Signals: A Warning from the Charts

Despite the optimism, technical analysts remain divided. Tony Severino, a Chartered Market Technician, flagged bearish divergences between price action and momentum indicators. “BTC is making higher highs while the RSI posts lower highs. That’s not bullish—it’s a red flag,” he noted.

BTC remains below the 50-period EMA near $86,000, reinforcing short-term bearish structure. The RSI sits around 36, rebounding from oversold levels, but lacks momentum. Unless BTC breaks above $86,800, recovery remains uncertain.

Macroeconomic Headwinds Add Caution

Even with the bullish on-chain signal, macro forces loom large. Strong U.S. economic data—Q4 GDP revised to 3.4% and jobless claims declining—supports a hawkish Fed stance, dampening appetite for risk assets like Bitcoin.

Meanwhile, geopolitical tensions are flaring again with Trump’s proposed 25% auto tariffs, set for April 2. While gold surged to an all-time high of $3,059 on the news, BTC hasn’t mirrored the safe-haven rally.

This divergence has left some questioning Bitcoin’s role as digital gold. Jamie Coutts of Real Vision noted, “Hash Ribbons are a solid signal, but broader conditions aren’t aligning like previous cycles.”

With Wall Street returning post-holiday and ETF flows stabilizing, short-term direction may depend on how BTC reacts to upcoming inflation data.

• Gold hits $3,059 ATH while BTC lags behind
• Trump’s tariffs add to global economic anxiety
• ETF inflows flatline amid mixed crypto sentiment

Bitcoin Consolidates Near $84.5K Amid Cooling Bearish Pressure

BTC is stabilizing near $84,500 after a sharp drop, finding short-term support at $83,000. The RSI is rebounding from oversold levels, hinting at fading bearish momentum.

However, BTC remains below the 50-EMA at $86,000, keeping the near-term bias bearish.

• Upside target: Break above $86,800 could trigger a rally toward $88,800
• Downside risk: Drop below $83,000 may expose $81,200
• Market tone: Cautious, with $34B daily volume and 2.86% drop

BTC is consolidating in a narrowing range, with macro catalysts likely to dictate the next move.

BTC Bull: Earn Bitcoin Rewards with the Hottest Crypto Presale

BTC Bull ($BTCBULL) is making waves as a community-driven token that automatically rewards holders with real Bitcoin when BTC hits key price milestones. Unlike traditional meme tokens, BTCBULL is built for long-term investors, offering real incentives through airdropped BTC rewards and staking opportunities.

Staking & Passive Income Opportunities

BTC Bull offers a high-yield staking program with an impressive 119% APY, allowing users to generate passive income. The staking pool has already attracted 882.5 million BTCBULL tokens, highlighting strong community participation.

Latest Presale Updates:

• Current Presale Price: $0.002425 per BTCBULL
• Total Raised: $4M / $4.5M target

With demand surging, this presale provides an opportunity to acquire BTCBULL at early-stage pricing before the next price increase.

The post Is This BTC’s Bottom? One of the Most Trusted Buy Signals in Bitcoin Just Flashed appeared first on Cryptonews.

Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

Bitcoin ($BTC) remains THE cryptocurrency to buy even if it took a nosedive in recent weeks.

As it slowly but surely climbs back to $90K, $BTC received stronger commitment over the long term from two of the most recognized Bitcoin treasuries. Meme coins are expected to benefit from this too, but we’ll get to that later.

Strategy Doubles Down on $BTC, Launches $STRF

Strategy’s Executive Chairman Michael Saylor announced via X yesterday the launch of its preferred stock Strife ($STRF). This comes after Strategy’s recent acquisition of more $BTC, increasing its holding to over 500K coins.

$STRF is designed to work as a bond, directing most of its funds into acquiring more $BTC. This means that stockholders will earn dividends from their shares rather than yield.

Metaplanet Wants to See More $BTC Treasury Companies

Further strengthening the case to increase $BTC investments is Metaplanet chief executive Simon Gerovich who said he hopes more companies would follow in Strategy and Metaplanet’s footsteps and create their own Bitcoin treasury companies.

As $BTC continues to climb back after a dismal mid-March, the overall crypto market also seems to be on the same path of recovery. Many are in the green as investors start to be optimistic again albeit a little guarded.

But if you prefer not to commit fully to this digital currency, here are three meme coins that will let you benefit from Bitcoin’s return.

1. BTC Bull Token ($BTCBULL) – Ride the Wave of $BTC’s Rise to $100K and Beyond

BTC Bull Token ($BTCBULL) is a meme coin designed for investors bullish on the continued rise of $BTC’s value. The premise is simple: hold $BTCBULL tokens in Best Wallet and earn free $BTC airdrops when the latter reaches $150K and $200K.

Aside from that, holders will also receive $BTCBULL airdrops when $BTC hits the $250K mark. Overall, this project is compelling for everyone who wants to benefit from $BTC’s rise without actually holding this cryptocurrency.

To get your $BTCBULL tokens, simply join the ongoing presale on the official BTC Bull website. Next, connect your crypto wallet and swap your crypto or buy with fiat using your credit card. For more information, you can check out our step-by-step BTC Bull buying guide.

The token currently costs $0.00243, making it an affordable investment for earning $BTCs and ideal if you’re in the hunt for the best presale in 2025. A price increase will happen in 24 hours, though, so it’s best to get $BTCBULL sooner rather than later.

You can learn more about the project by reading the BTC Bull whitepaper and following it on X.

2. MIND of Pepe ($MIND) – Get Exclusive Investing Insights from a Crypto AI Agent

Finding useful crypto investing insights is next to impossible because there’s simply too much information spread across various platforms. The MIND of Pepe ($MIND) token wants to change that.

This project wants to develop a revolutionary crypto AI agent that will gather information from just about every corner of the web using hive-mind analysis. It will then distill this data into actionable insights investors can use to find the next big market trend.

The AI agent is also self-evolving, which means it will continue to learn and upgrade itself. To do this, it will interact with social media accounts and the internet at large to help shape conversations and spread its influence.

$MIND holders will benefit exclusively from everything the AI agent has to offer. You can purchase this new crypto now via its presale page. Joining also lets you stake your tokens (294% APY) and earn rewards, a benefit that’s only available to presale buyers.

MIND of Pepe’s whitepaper offers more insight into the project. You can also subscribe to updates on Telegram or follow it on X.

3. Dogecoin ($DOGE) – Still the King of Meme Coins

While $BTC is ideal for long-term HODLing and $DOGE is better-suited for short-term gains, their movements are somewhat correlated. At the moment, the coin considered as one of the best altcoins is in recovery mode a lot like $BTC and the crypto market in general.

As such, $DOGE can be a good investment if you’re optimistic about Bitcoin’s movements but want something faster and easier to trade, and that can be used for daily transactions.

Unlike the two other coins on this list, Dogecoin is available in most exchanges, making it easily accessible 24/7. Its value hovered between $0.1926 and $0.252 over the past 24 hours, marking a recovery from the brief downturn in the crypto market in mid-March.

No Goodbyes, Just Good Buys for Bitcoin

Bitcoin is hot again as it steadily gets back up and past the $85K mark. But has it really gone away? Not really, if one asks the likes of Strategy, Metaplanet, and the team behind BTC Bull.

Because of this, $BTC remains a solid buy, especially for investors who are willing to weather occasional downturns in exchange for long-term gains. But if you prefer not to hold $BTC directly, BTC Bull, for one, offers a fun and affordable alternative to benefit from Bitcoin’s success.

But remember, never invest money you can’t afford to lose. Also, do your own research before you buy crypto. The information in this article is for educational purposes only, so don’t take it as investment advice.

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.

With nearly 19.84 million BTC circulating from its limited supply of 21 million, investor enthusiasm is evident.

On the technical front, the recent symmetrical triangle breakout on Bitcoin’s 4-hour chart signals strong bullish sentiment.

Breaking decisively above the critical pivot point of $86,462, BTC surged toward a significant resistance level at $89,024.

This rally marks a critical turning point, although BTC has now entered a mild corrective phase, illustrating natural short-term profit-taking.

The key level to watch closely is $86,400, as holding this support could catalyze another bullish upswing toward resistances of $90,750 and $92,800.

• Bullish breakout triggered at pivot $86,462.
• Current correction at resistance $89,024.
• Crucial support at $86,400 for bullish continuity.

Saylor’s $711 Million Bitcoin Bet

Michael Saylor, the co-founder of Strategy, is ready to bolster BTC investments after successfully raising approximately $711 million through a new preferred share issuance priced at $85 each.

A provocative hint via his X account—captioned “needs more orange”—suggests a sizeable BTC acquisition may be imminent.

This follows Strategy’s recent Bitcoin purchase of 130 BTC for $10.7 million, boosting their total holdings to 499,226 BTC. Saylor remains bullish, suggesting the U.S. government could own as much as 25% of Bitcoin by 2035.

Historically, Saylor’s moves have significantly impacted market confidence, attracting institutional attention and potentially driving BTC prices higher amid current macroeconomic volatility.

U.S. Dollar’s Decline Boosts Bitcoin Appeal

Renowned economist Peter Schiff recently warned of a possible collapse of the U.S. dollar, citing America’s dependency on foreign production and persistent trade deficits. Schiff argues this unsustainable scenario could severely weaken dollar value, forcing a challenging economic shift toward increased domestic production and savings.

Schiff’s cautionary stance could inadvertently bolster Bitcoin’s status as a safe-haven asset, potentially driving demand amid rising fears of dollar instability. Historically, weakening confidence in fiat currencies has correlated with increased adoption of Bitcoin, emphasizing its value preservation attributes.

El Salvador Fuels BTC Innovation with AI Program

El Salvador continues to cement its reputation as a tech-friendly, crypto-forward nation, with Cathie Wood, founder of Ark Invest, inaugurating the new CUBO AI education initiative.

This public program aims to empower professionals and students with artificial intelligence skills, building on El Salvador’s successful Bitcoin and Lightning Network developer courses.

This strategic emphasis on technology is attracting global investment, underscoring President Nayib Bukele’s ambitions to significantly enhance El Salvador’s GDP.

The nation’s persistent focus on innovation reinforces Bitcoin’s long-term bullish prospects, positioning it attractively for future institutional investors.

BTC Bull: Earn Bitcoin Rewards with the Hottest Crypto Presale

BTC Bull ($BTCBULL) is making waves as a community-driven token that automatically rewards holders with real Bitcoin when BTC hits key price milestones. Unlike traditional meme tokens, BTCBULL is built for long-term investors, offering real incentives through airdropped BTC rewards and staking opportunities.

Staking & Passive Income Opportunities

BTC Bull offers a high-yield staking program with an impressive 119% APY, allowing users to generate passive income. The staking pool has already attracted 882.5 million BTCBULL tokens, highlighting strong community participation.

Latest Presale Updates:

• Current Presale Price: $0.002425 per BTCBULL
• Total Raised: $4M / $4.5M target

With demand surging, this presale provides an opportunity to acquire BTCBULL at early-stage pricing before the next price increase.

The post Bitcoin Just Got a $711M Glow-Up: 3 Trends Fueling BTC’s Epic Price Rally appeared first on Cryptonews.

The current bearish phase of the crypto market has continued, with Bitcoin, the largest digital asset struggling to reclaim key levels such as the pivotal $100,000 mark. While the community anticipates another rally for BTC, analysts point to areas that are crucial and may spur an upsurge for the asset to new highs.

Key Level Stands Between Bitcoin’s Next Rally

After reaching a new all-time high last month, Bitcoin has been faced with bearish pressure, which has hindered the asset from revisiting the level. However, market expert and investor Mags highlights that a crucial barrier point that traders are keeping a careful eye on will determine whether BTC will reclaim its current peak or rise to fresh all-time highs.

Specifically, the critical resistance level pointed out by the market expert is the $99,500 range. Even with the recent slight bullish momentum, Bitcoin needs to recover and stay above the key level to confirm a breakthrough and sustain an upward movement.

Delving into BTC’s recent price action, Mags stated that its price has been maintaining sideways movements for the past few days. It is also trading below a mid-range as seen in the chart shared by the analyst.

According to Mags, BTC has already been tested with a fast wick at the low range. On the other hand, the expert anticipates a proper retest prior to the next top move for Bitcoin. As a result, he believes that a price flip of $99,500 is vital for BTC upswing to a higher level.

While Mags looks forward to a BTC rally, he noted that sideways movements are likely to last a little longer before the subsequent move up, which should be the last push for the asset. With the current bearish pressure, BTC’s failure to break through and hold this level could lead to an extended consolidation or notable pullbacks in the short term.

Looking at Mags’ chart, the anticipated breakout is capable of triggering a massive bullish wave to as high as nearly the $130,000 mark. A move to the range will confirm its potential to target higher price levels before the ongoing bull market cycle comes to an end.

BTC’s Market Top Could Be Happening Anytime Soon

Mags hints at this ongoing cycle coming to an end soon and BTC achieving its market park in the upcoming months. Bitcoin’s peak has historically occurred about 233 to 330 days after surpassing its previous all-time high.

Considering past cycles, BTC seems capable of experiencing growth despite waning conditions. Furthermore, the expert has pinpointed Bitcoin’s market top between the third and fourth quarters of this year.

His chart shows that BTC’s may peak at around $350,000 in the coming months. The asset recently underwent a price breakout, which may have set the stage for a path to a new all-time high and market top.

Featured image from Unsplash, chart from Tradingview.com