The US House has moved forward three crypto bills after a record-long procedural vote saw a group of Republicans hold out to ensure language banning CBDCs.
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Tokenholders of Trump’s World Liberty Financial voted to make their tokens tradable in a landslide vote, which closed on Wednesday.
Bitcoin steadies, and “Crypto Week” momentum builds. Next leg up may already be loading?
Bitcoin has begun to recover after a brief decline triggered by the latest US Consumer Price Index (CPI) data. On July 15, the asset dropped to a low of $116,000 in response to news that inflation rose to 2.7% in June, amid continued concerns over tariffs from the Trump administration. As of this writing, Bitcoin is trading at $118,439, reflecting a 1.8% gain over the past 24 hours, which suggests that some investor confidence has returned to the market despite recent volatility. This short-term rebound occurs amid increasing on-chain and market activity, which analysts are closely tracking. One such contributor, Trader Oasis, recently published an analysis on CryptoQuant outlining various indicators tied to Bitcoin’s current movement. Related Reading: Bitcoin Returns Under $117,000: Is Social Media FOMO To Blame? Bitcoin Open Interest, Price Divergence, and Institutional Signals The analyst explored a range of technical and behavioral metrics, including open interest, Coinbase premium index, and funding rates, that are influencing BTC’s recent price behavior and hinting at what may lie ahead. Trader Oasis began by noting that Bitcoin’s breach of the $107,000 resistance signaled the beginning of a potential distribution phase. He pointed out that a divergence between price and open interest acted as a preliminary bullish signal, preceding the asset’s climb. The current state, where both price and open interest are rising in tandem, is seen by some as a sign of strengthening momentum in the market. He also evaluated data from the Coinbase Premium Index, which remains above zero, typically seen as an indication of institutional demand. However, Oasis observed that the indicator’s flat behavior, even as price rises, could imply large entities are securing profits. He further suggested that a breakout above the descending trend line could trigger a stronger upward move, but a fall below zero might represent a new entry signal. Regarding funding rates, he noted that the current rise reflects renewed market confidence, although it is still below previous extreme levels. This, in his view, implies that while enthusiasm exists, excessive leverage is not yet present. Profit-Taking Rises as Binance Dominates Realized Flows A separate analysis by another CryptoQuant contributor, Crazzyblockk, looked at the realized profit and loss (PnL) across centralized exchanges. According to the data, Bitcoin investors realized $9.29 billion in profits in a single day, marking a record high for such flows. This surge in realized PnL reflects widespread profit-taking in the wake of Bitcoin’s recent price rally, especially among short-term holders. Related Reading: Dormant Bitcoin Wallet Moves $1.2B in BTC: Is A Major Sell-Off Coming? On Binance specifically, the realized PnL remains below its all-time highs but has seen a rising share compared to other exchanges. Data shows that on some days, Binance’s share of realized profits has reached up to 60%, reinforcing its growing importance in shaping market behavior. Crazzyblockk concluded that this concentrated profit-taking, led by Binance users, could indicate a shift in market dynamics, noting: Binance’s increasing dominance in realized PnL flows reinforces its critical role in market sentiment and liquidity. For traders and analysts, it is crucial to closely monitor Binance’s on-chain activity alongside other exchanges to stay ahead of potential volatility. Featured image created with DALL-E, Chart from TradingView
Countries balance public demand for digital money against warnings over sector’s risks to financial stability
Bitcoin price started a downside correction from the $123,200 zone. BTC is now consolidating below $120,000 and might attempt a fresh increase. Bitcoin started a fresh decline from the new all-time high near $123,200. The price is trading below $119,500 and the 100 hourly Simple moving average. There is a rising channel forming with support at $118,200 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair might start another increase if it clears the $120,000 resistance zone. Bitcoin Price Hits Support Bitcoin price started a downside correction from the new all-time high at $123,200. BTC dipped below the $122,000 and $120,000 support levels to enter a short-term bearish zone. The price traded below the 23.6% Fib retracement level of the upward move from the $108,636 swing low to the $123,140 high. However, the downside was limited and the price found support near the $115,800 zone. The bulls protected a move below $118,000. The price stayed above the 50% Fib retracement level of the upward move from the $108,636 swing low to the $123,140 high. Bitcoin is now trading below $119,500 and the 100 hourly Simple moving average. There is also a rising channel forming with support at $118,200 on the hourly chart of the BTC/USD pair. Immediate resistance on the upside is near the $119,200 level. The first key resistance is near the $119,500 level. The next resistance could be $120,000. A close above the $120,000 resistance might send the price further higher. In the stated case, the price could rise and test the $121,200 resistance level. Any more gains might send the price toward the $122,000 level. The main target could be $123,200. More Losses In BTC? If Bitcoin fails to rise above the $120,000 resistance zone, it could continue to move down. Immediate support is near the $118,200 level and the channel. The first major support is near the $116,500 level. The next support is now near the $115,500 zone. Any more losses might send the price toward the $113,500 support in the near term. The main support sits at $110,500, below which BTC might continue to move down. Technical indicators: Hourly MACD – The MACD is now losing pace in the bearish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now below the 50 level. Major Support Levels – $118,200, followed by $115,500. Major Resistance Levels – $120,000 and $122,000.
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The Smarter Web Company bolsters Bitcoin reserves, raising total reserves to 1,600. Bitcoin's role as a core reserve asset part of a 10-Year Plan since 2025. Continue Reading: Experience The Smarter Web Company Boosting Its Bitcoin Reserve The post Experience The Smarter Web Company Boosting Its Bitcoin Reserve appeared first on COINTURK NEWS .