Bitcoin (BTC) is in danger of falling to $110,000, what is the cause and when will it happen?
Jakarta, Pintu News – Bitcoin experienced another rejection at the $120,000 resistance level after touching a high of $119,760. Currently, the leading cryptocurrency is trading slightly lower at $118,900. However, a sharp increase in whale inflows to Binance poses a threat of further downward pressure for the digital asset.
Rejection at the Threshold of $120,000
Yesterday, Bitcoin (BTC) once again failed to break the $120,000 resistance barrier. After reaching a daily peak of $119,760, Bitcoin (BTC) price is now hovering around $118,900. This rejection marks the difficulty for Bitcoin (BTC) to maintain momentum at higher price levels.
This rejection comes alongside a significant increase in the number of whale deposits on Binance, which suggests that large holders may be preparing to sell. This could trigger more selling pressure, which might bring down the price of Bitcoin (BTC) to lower levels in the near future.
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Whale Activity on Binance Increases
According to a recent post on CryptoQuant by BorisVest, whale activity on Binance has increased significantly. On July 25, the Binance Whale Inflow metric recorded a prominent spike, signaling increased institutional participation in deposits to the exchange. On that day, the 30-day cumulative inflow to Binance jumped by $1.2 billion, triggering short-term selling pressure in the market. Data from CoinGlass showed that between July 24 and 25, approximately $141 million worth of long Bitcoin (BTC) positions were liquidated.
Bitcoin (BTC) Price Outlook Going Forward
After the rejection at $120,000, Bitcoin (BTC) retreated to the $115,000-$116,000 range, which is now acting as short-term support. If this zone cannot hold, the possibility that Bitcoin (BTC) will drop towards the $110,000 level becomes even greater.
However, if Bitcoin (BTC) can bounce strongly from this zone, there is still potential for it to retest $121,000 and even attempt to reach a new record high. Another analyst, Titan of Crypto, stated that if Bitcoin (BTC) can break the $119,900 level decisively, then it could be possible for the currency to reach a new record high.
Conclusion
With whale activity on the rise and BTC reserves on exchanges hitting a one-month high, the market may experience consolidation before resuming the uptrend. However, all eyes remain on how the market will absorb this whale selling, which will determine the direction of Bitcoin (BTC) price in the near future.
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*Disclaimer
This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities are subject to high risk and volatility, always do your own research and use cold hard cash before investing. All activities of buying andselling Bitcoin and other crypto asset investments are the responsibility of the reader.
Reference
- NewsBTC. Bitcoin Price Could Hit $120,000 As Binance Whale Inflows Reach $110,000. Accessed on July 29, 2025
