Blog

Bitcoin faced a “massive” week as Bulls targeted $ 120,000


Bitcoin (Btc) Head to July monthly close a view of $ 120,000 as a BTC price rebound that holds firmly.

  • The BTC’s Action Price gives market participants to expect all the time, but the threat of a $ 113,000 comedown remains.

  • A giant week of US MacRO data combines at the Fed meeting at interest rates in the midst of pressure with Chair Jerome Powell.

  • The US-EU trade deal provides an instant boost for risk assets, including a record open for S&P 500 futures.

  • Bitcoin performance in July 2025 may feel amazing, but it still has a way to go to stand up against historical standards.

  • Stablecoin Liquidity suggests that bulls can wait before getting the momentum required to restore price detection.

Bitcoin Bulls runs at $ 120,000

A late week of climbing has put a bitcoin price action for a remarkable distance of $ 120,000, but the momentum eventually failed.

BTC/USD 1-Hour chart. Source: Cointelegraph/TradingView

Despite this, BTC/USD managed the area around $ 119,000, per data from Cointelegraph Markets Pro and Tradingviewentertaining market participants to expect further upside down.

“If Bitcoin can tighten and hold more than $ 117,000 then I think we’re good for new ATHS soon,” famous businessman Crypto Tony forecast at A Post on x Monday.

BTC/USDT Perpetual Contract 1-Weight Chart. Source: Crypto tony/x

Famous businessman and analyst Rekt Capital said Bitcoin was “kickstarted” by a bull flag with $ 119,450 weekly nearby.

“Where to ~ $ 119200 in support by a retest can occur next week (perhaps even through a wick),” he said X followers next to an explanatory chart.

“However, at the moment BTC needs to avoid an inverted wick beyond the bull of the top flag otherwise the price will remain in the range.”

BTC/USD 1-week chart. Source: Rek Capital/X.

On Sunday, Cointelegraph reported In the expectations of merchars’ liquidity for the coming days. Books of the exchange order showed two major zones above and below the price, with analysis that see the potential for a return to $ 113,000.

“For $ BTC, we sat in nearly 58.7% sought to be stacked against 41.3% shorts. This means that there is a decent amount of fuel for a move if the shorts are flushing, but not an excessive amount of shouting ‘squeeze in,’ analyst ThekingFisher Argued while evaluating fluids.

“It’s balanced enough that we can see more chop up to one side really do.”

BTC Liquidation Heatmap. Source: Coinglass

The latest data from the resource tracking Coinglass Bid’s liquidity is shown between $ 116,800 and $ 118,300.

FOMC Week starts with Powell dedicated

If most of July is relatively quiet in terms of US macroeconomic data, tables will soon turn.

The Federal Reserve’s interest decision forms the highlight of the coming days, but it is far from the only point of interest for risk entrepreneurs.

The Q2 GDP was due a few hours before the Federal Open Market Committee (FOMC) meeting on Wednesday. Later in the day, the “preferred” inflation gauge of the fed, the personal fight (PCE) index, will be released.

“We have a huge week ahead of us,” Kobeissi’s trading letter Summary In X.

Kobeissi added that corporate revenues will continue to pour, creating “the most packed week of the year.”

That data comes at an important time for markets. The continued division between government expectations and Fed policy continues to boil in the public eye, with President Donald Trump actively calling on Fed Chair Jerome Powell to cut interest rates.

Powell remained hawkish throughout 2025 as inflation data continued to paint a mix -a picture – cooling costs with elastic labor market – allowed the Fed to maintain the current policy.

The latest data from CME Group’s Fedwatch tool It is confirmed that markets do not see any chance of a cut rate emerging from the FOMC this week, with bets still favored the September meeting.

Fed target rate probability for the July FOMC meeting (screenshot). Source: CME Group

“While the July meeting is widely expected with no change in rates, investors are looking for clues to rates at the remaining year meetings,” the trading firm Mosaic Asset confirmed in the latest edition of its regular newsletter, “The mosaic of the market. “

“The fear of inflation will continue to be a restraint of the factor in perspective, with evidence of tariffs affecting the latest consumer price report (CPI).”

Mosaic specified the June CPI printing to enter Above expectations.

The progress of the US trade deal with a rally-asset rally

Balancing so many risks to volatility from MacRO data is good news for markets wider: the US that binds a trade deal with EU and Japan, while the delay in implementing tariffs in China for another 90 days.

These major events have had an instant impact on sentiment and risk-asset performance.

Stock futures moved forward, along with the opening of the S&P 500 above 6,400 in the first time in history as a result of trade announcements.

S&P 500 Futures 1-day chart. Source: Cointelegraph/TradingView

Both Trump and European Commission president Ursula Von der Leyen called the result “biggest trade deal ever,” with the latter Noting that the US and EU together provide 44% of the global GDP.

“Avoiding trading tensions and liquidity tailwinds send S&P 500 to fresh record highs as volatility has fallen to the lowest level since the beginning of the year,” Mosaic Asset commented on a trade topic.

Mosaic added that the economic backdrop in the US also favors risk growth. Specifically, it flagged the M2, a “wide measure of US currency supply” that increased by 4.5% year-on-year.

“M2 has dropped and recovered since 2023, and is now producing a new record high next to the major stock indexes,” he said.

The BTC/USD 1-day chart with global liquidity of M2. Source: Cointelegraph/TradingView

Number Contelegraph reportedThe performance of Bitcoin and Crypto is closely tied to global M2 Liquidity trends throughout the crypto market history.

A July like anyone else for Bitcoin?

Around $ 120,000, Bitcoin certainly delivered for Bulls this month, but in history, July tends to perform better.

Coinglass The data show that while the BTC/USD reached 11.3% in July 2025, it was only marginally above the average over the last 12 years.

Since 2013, July has delivered an average of 7.85% upside down, with medians gained by 9.6%.

Even in 2022, the latest year of Bitcoin’s bear market, July offered a reversal of almost 17%, confirmed by coinglass.

BTC/USD Monthly Return (Screenshot). Source: Coinglass

An additional comparison chart that was uploaded to X by the network’s economist Timothy Peterson on Sunday emphasized the status quo.

At the forefront of the monthly candle nearby, meanwhile, famous businessman and analyst Akan Kibar emphasized that the bulls had to hold early July acquisitions.

“The breakout in the first week of July has a long white candle,” he said X Followers next to a chart with a target of $ 141,300.

“It is important not to return the gains during the pullback. It will display positive momentum. Right now the price will be held beyond the horizontal support at 109K.”

BTC/USD 1-week chart. SOURCE: ACKNOWLEDGE KIBAR/X.

The average of August returns for BTC/USD was concluded that it was less amazing, meanwhile, at just 1.75%.

Stablecoin Liquidity brings questions

Those who hope for a rapid continuity of the Bitcoin Bull market may have to wait longer.

Related: XRP Dip is a ‘Healthy Correction,’ Ether Supply Shock: Hodler’s Digest, July 20 – 26

New research from the Onchain analytics platform has highlights a factor that has the potential to rotate the price of BTC until it is resolved.

The ratio of stablecoin supply (SSR) is growing in step with BTC/USD – something that can signal a stablecoin’s lack of liquidity, or “dry powder,” available for investment.

“An increase in this indicator suggests that stablecoins are minimal compared to the volume of bitcoin. In other words, poor liquidity, and therefore the market lacks the high purchase power to support Bitcoin,” the Arab chain contributor explained to one of the “cryptoquant’s”Quicktake”Blog posts Monday.

“Increasing the indicator, along with the increase in bitcoin price, indicates that this increase is taking place without new stablecoins entering the same speed. An ongoing indicator increase may indicate that buying momentum may be weakened in the future due to low liquidity.”

Bitcoin SSR compared to the BTC/USD chart. Source: cryptoquant

The SSR reached the latest all-time highs in November 2024, a level that was almost-but not too-eclipsed on July 14th.

The Arab chain has thus argued that the market may enter a period of “temporary saturation.”

“This indicates that the market is partially supported by liquidity, but a continuing increase in bitcoin will require a significant increase in the Stablecoin reserve in the coming days,” it concludes.

This article does not contain investment advice or recommendations. Every transfer of investment and trading involves risk, and readers should conduct their own research when deciding.