Bitcoin bulls are making a run at $120,000 again, but most traders are wondering what it takes to get to $150,000.

Bitcoin price to $150K? Here’s what it will take

The advancement of these crypto measures could significantly influence the 
regulatory landscape and future innovation in the digital currency sector.
The post US House officially passes rule to advance GENIUS, Clarity, and Anti- 
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Briefing.

US House officially passes rule to advance GENIUS, Clarity, and Anti-CBDC acts after longest vote in chamber history

Tokenholders of Trump’s World Liberty Financial voted to make their tokens 
tradable in a landslide vote, which closed on Wednesday.

Trump’s World Liberty crypto tokens are set to become tradable

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&#8217;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&#8217;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&#8217;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&#8217;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&#8217;s on-chain activity alongside other exchanges to stay ahead of 
potential volatility. Featured image created with DALL-E, Chart from 
TradingView

Bitcoin Recovers to $119K But Key Indicators Show Mixed Signals

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.

Bitcoin Price Pauses for Breath—Consolidates Gains Before Next Big Move?

XRP rockets into the spotlight as Proshares launches a 2x leveraged ETF, 
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movements. Asset […]