Bitcoin Price Analysis: BTC Continues To Consolidate, Falls Short Of $120,000 Yet Again
Bitcoin (BTC) started the week on a positive note after a sluggish weekend that saw sellers push the price down to a low of $116,208 before it closed Sunday at $117,240. However, it fell short of $120,000, losing momentum after reaching an intraday high of $119,618 during the ongoing session.
The flagship cryptocurrency is up nearly 1% during the ongoing session, trading around $118,295.
Michael Saylor Teases Another Bitcoin (BTC) Buy
Strategy co-founder and executive chairman Michael Saylor teased an imminent Bitcoin purchase as the value of the BTC treasury company’s holdings crossed $71 billion. Strategy’s latest Bitcoin purchase was on July 14, when it purchased 4,225 BTC for $472.5 million. The acquisition took the company’s total holdings to 601,550 BTC, valued at $71.4 billion at current prices. Strategy is up over 66% on its Bitcoin investment, and is sitting on $28.5 billion worth of unrealized gains.
Bitcoin Treasury companies like Strategy are one of the biggest drivers of BTC’s current rally, alongside spot Bitcoin ETFs, crypto exchanges, and institutional investors. The company’s stock is up over 21%, surging as the crypto market rallies, with BTC hitting record levels.
Spot Bitcoin ETFs Continue Inflow Streak
Spot Bitcoin ETFs registered inflows of $363 million on Friday, extending their inflow streak to 12 days amid burgeoning investor interest. As expected, BlackRock’s IBIT led the inflows, adding $496 million, cementing its position as the largest spot Bitcoin ETF with over $86 billion in assets. However, Fidelity’s FBTC registered a marginal outflow of $17.94 million, while Grayscale’s GBTC saw outflows of over $81 million.
Bitcoin ETFs have attracted around $6.6 billion in net inflows over the 12 days. July 10 registered the largest single-day inflow, worth $1.03 billion. This was also the first time Bitcoin ETFs registered over $1 billion in inflows on two consecutive days. Other notable inflows include $799 million on July 16 and $601 million on July 3.
Charles Schwab To Offer Bitcoin, Ether Spot Trading
Charles Schwab is planning to offer spot trading for Bitcoin and Ethereum. The plan was announced by CEO Rick Wurster, who said that Schwab’s clients already have substantial exposure to crypto through exchange-traded products (ETPs). However, Wurster noted that crypto makes up a very small portion of its clients’ total wealth, $25 billion out of $10.8 trillion.
“We anticipate launching Bitcoin and Ether sometime soon so that our clients have access to that. We think that will be an acceleration of our growth.”
Wurster stated that most clients keep 98% of their wealth with Schwab, but hold only 1-2% of their crypto assets with digital-native firms.
“They really want to bring it back to Schwab because they trust us. They want us to sit alongside their other assets.”
The introduction of spot crypto trading will see Charles Schwab compete with crypto exchanges like Coinbase. Wurster confirmed Schwab’s intention to compete with Coinbase, stating,
“If they’re buying their crypto at Coinbase, we would love to see them bring their crypto back to Schwab.”
The firm has increased its involvement in crypto in recent months amid growing regulatory clarity. In 2025, the Office of the Comptroller of the Currency (OCC), the Federal Deposit Insurance Corporation (FDIC), and the Federal Reserve withdrew restrictive guidelines issued following the FTX collapse, allowing banks to participate in crypto and offer custody and trading services.
Bitcoin (BTC) Price Analysis
Bitcoin (BTC) has rebounded after starting the week on a sluggish note. The flagship cryptocurrency has traded in a range since setting a new all-time high on Monday. BTC raced past $123,000 on Monday, reaching a new all-time high of $123,091 before settling at $119,714. It has struggled to regain $120,000 since, trading between $116,000 and $120,000 as buyers refused to cede ground to sellers, indicating that bullish sentiment remains intact. Price action remained muted over the weekend, with BTC registering a marginal decline on Saturday and 0.48% on Sunday.
The flagship cryptocurrency entered into a consolidation phase after Monday’s rally to a new all-time high, trading in a narrow range between $117,000 and $120,000. BTC maintained its position above $117,000-$118,000, indicating that bulls have not ceded ground to sellers. However, analysts believe BTC is gearing up for a big move, which could see it test the $123,000 level and return to price discovery. Trader Marcus Corvinus stated,
“BTC is getting ready for a big move. Bitcoin is moving inside a triangle pattern and staying above strong support around $116,000 to $117,000. Right now, it's going sideways but not for long.”
A breakout above $123,000 could take BTC past $125,000. However, if it slips below $117,000-$118,000, then markets can expect a drop to $110,000 or lower.
“If it breaks below support, the price may fall to $111,000 or lower.”
BTC registered a sharp increase on Thursday (July 10), rising 3.51% to $115,160. It continued pushing higher on Friday, rising 1.50% to cross $116,000 and settle at $116,885. Despite the positive sentiment, BTC registered a marginal decline on Saturday. However, it recovered on Sunday, rising nearly 2% to cross $118,000 and settle at $118,624. BTC raced past $120,000 on Monday as bullish sentiment intensified, crossing $123,000 and setting a new all-time high of $123,091. However, it could not stay at this level and settled at $119,714, ultimately registering a 0.92% increase. The price lost momentum on Tuesday as traders locked in their profits. As a result, it fell nearly 2% to $117,682, but not before dropping to an intraday low of $115,701.
Source: TradingView
Despite the selling pressure, BTC recovered on Wednesday, rising 0.82% to $118,641. The price faced volatility on Thursday as buyers and sellers struggled to establish control. Buyers ultimately gained the upper hand as BTC registered a marginal increase to reclaim $119,000 and settle at $119,101. Price action turned bearish on Friday as BTC dropped 1.03% and settled at $117,877. Sellers retained control over the weekend as the price registered a marginal decline on Saturday and fell 0.48% on Sunday to settle at $117,240. The current session sees BTC up 1.51%, having reclaimed $119,000 and trading around $119,042.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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