Bitcoin Price Rebounds to $117,000 Amid Historic Selling Pressure in Current Bull Cycle
Main Idea
Bitcoin price rebounded to $117,000 despite significant historic selling pressure, indicating underlying market strength.
Key Points
1. CryptoQuant analyst AXEL noted that only 12 weeks in the current bull market cycle have seen selling pressure as intense as this week.
2. The selling pressure this week is within the top 7% historically, signaling a significant market correction.
3. Bitcoin's price rebounded to $117,000, suggesting resilience in market fundamentals.
4. A drop below $116,000 could trigger $677 million in long order liquidations on major centralized exchanges (CEXs).
Description
Are You Chasing New Coins? Catch the newest crypto opportunities. Be the first to buy, be the first to win! Click here to discover new altcoins! On July 26,
$BTC
$118014.9
+1.98%
Latest News
- Futu to Launch Crypto Interest-Bearing RMB, HKD, and USD Tokenized Money Market Funds2025-07-26 15:41:44
- Shiba Inu Shows Signs of Accumulation as Exchange Reserves Drop and Long Term Holders Remain Steady2025-07-26 15:27:48
- El Salvador’s Bitcoin Role May Be Diminishing Amid IMF Agreement and Reduced Public Engagement2025-07-26 15:09:23
- JPMorgan May Halt Banking Ties with Gemini Amid Dispute Over Fintech Data Access2025-07-26 15:08:28
- ProPhase Labs Unveils Crypto Asset Reserve Strategy with Major Bitcoin (BTC) Purchase2025-07-26 14:54:29