Bitcoin's Second Shot at $119,000?
In the world of cryptocurrency, the price of Bitcoin has been making headlines, reaching and sustaining around $119,000 in late July 2025. This price movement, according to analysts and market observers, marks a potential start of a new bull cycle rather than just a temporary fluctuation.
The strong buying pressure and increased trading volumes around this price point suggest significant investor interest and momentum, indicating that Bitcoin may be breaking out of a consolidation phase rather than experiencing a fleeting spike.
The price surge follows the recent Bitcoin halving event, which reduced new supply, coupled with growing institutional adoption. Large financial entities and sovereign funds are allocating capital to Bitcoin as a hedge against inflation and currency risks. This institutional involvement is often seen as a key driver of sustainable upward price trends.
Technological developments, such as the Lightning Network, have improved Bitcoin's transaction efficiency and utility, further bolstering demand.
Traders and market experts focus on key support and resistance levels. Maintaining above the $110,000–115,000 support zone is critical, while breaking decisively above $120,000 could open the path to higher targets around $135,000–140,000.
Recent price moves have triggered large liquidations of short positions, indicative of strong bullish sentiment and momentum.
However, caution remains warranted as volatility and regulatory uncertainties persist in the crypto market. Despite these challenges, the current price behavior accompanied by institutional and technological support differs from a typical short-lived fluctuation.
The Relative Strength Index (RSI) has started to turn from 63, signaling a weakening of the bullish momentum. Outflows exceeding inflows indicate that certain large entities are reducing their exposure or strategically redistributing their assets. This imbalance suggests that more Bitcoin is leaving the wallets of large holders than entering them.
Bitcoin's current trading price is around $118,200, which is below the key resistance of $119,900 and the upper Bollinger band. Profits remain high despite a decrease in aggressive selling.
If these trends persist, Bitcoin could retest lower support levels. However, the macroeconomic conditions are neither strongly bullish nor bearish, and Bitcoin remains in an uptrend. This suggests that Bitcoin's price evolution hints at either a bullish breakout or a deeper consolidation.
Following the distribution of 80,000 BTC by Galaxy Digital, realized gains/losses have dropped to $1.4 billion. Over the past 7 days, outflows from large Bitcoin holders have increased by 178.67%, while inflows have only increased by 70.22%.
ETFs are absorbing modest inflows of Bitcoin. This could indicate a slow and steady accumulation of Bitcoin by institutional investors.
Support for Bitcoin was close to $116,400, cushioning any short-term drops. However, Bitcoin has not yet entered a proper accumulation phase.
In conclusion, the price reaching and sustaining near $119,000 in July 2025 aligns with the early stages of a new bull market cycle, supported by strong fundamentals and market dynamics, rather than a mere temporary fluctuation.
Investors and analysts observe a potential start of a new bull cycle in Bitcoin, as the price reaching and sustaining around $119,000 in late July 2025 is driven by increased trading volumes, growing institutional adoption, and technological advancements such as the Lightning Network.
The strong bullish sentiment and momentum are further supported by the involvement of large financial entities and sovereign funds investing in Bitcoin as a hedge against inflation and currency risks.
