Bitcoin Price Short-Term Fate Rests on This Key Support Zone: Details
Main Idea
Bitcoin's short-term price movement is heavily influenced by a key support zone around $117,500, as indicated by on-chain data and liquidity concentration.
Key Points
1. Bitcoin's price was down 0.6% in the last 24 hours and 0.3% weekly, trading at $118,539 at press time.
2. U.S. spot Bitcoin ETFs experienced net outflows of $131.4 million, ending a 12-day streak of inflows that had attracted over $6 billion.
3. Liquidity is heavily concentrated around the $117,500 level, making it a critical support zone for Bitcoin's short-term price movement.
4. Despite recent outflows, Bitcoin remains 11% higher in July, though its rally has slowed compared to last week.
Description
Bitcoin's (BTC) most crucial short-term price level revealed by on-chain data
$BTC
$118454.4
-0.45%
Latest News
- XRP Rally Not Over, JPMorgan Eyes Bitcoin-Backed Loans, SHIB Price May Soar 800% in One Week2025-07-24 03:33:28
- Is XRP Stronger Than Ethereum? Bitcoin's (BTC) $150,000 is Around Corner, Shiba Inu (SHIB): Summer's Biggest Test Incoming2025-07-24 00:23:10
- Ripple CEO Sounds the Alarm Over YouTube XRP Scam2025-07-23 20:45:26
- Bitcoin Would Hold Up During Financial Crisis, Cramer Says2025-07-23 18:59:06
- Cardano Mini Death Cross Confirmed on Hourly Chart2025-07-23 16:26:14