Bitcoin Price Analysis: BTC Remains Rangebound Despite Positive Macro Developments
Bitcoin (BTC) has registered a marginal recovery during the ongoing session, reclaiming $118,000 and moving to its current level of $118,413. Price action has remained weak as investors brace for lower levels despite bullish macro data.
According to QCP Capital, BTC’s muted response to positive macro developments indicated classic “late cycle behavior.”
US Still Planning Bitcoin Reserve
White House digital assets chief Bo Hines has confirmed that the Trump administration remains committed to creating a strategic Bitcoin reserve despite it getting only a brief mention in the recently published crypto policy report. Hines, the executive director of President Trump’s Council of Advisors on Digital Assets, stated,
“We do believe in accumulation. We have it, it’s been established [...] we also have the strategic national digital assets stockpile.”
He added that Bitcoin is in a class of its own, and that everyone recognizes that. Hines also added that the administration wants to “give credence” to the work and developments happening across other ecosystems. However, he did not mention other platforms or digital assets. Explaining the delay, Hines stated that building the infrastructure takes time and labor to ensure things are done the right way.
“I think that people will be very pleased with the direction that we are going, and we’ll start moving on that in short order.”
The strategic Bitcoin reserve only found a short mention in the White House crypto report. According to Hines, the priorities and focus of the report were to create a robust regulatory framework.
“We understand the importance of the strategic Bitcoin reserve, we’re enormous fans of Bitcoin and the Bitcoin community, we want to deliver for them as well, and I’m certain that we will.”
Hines also added that the US government is committed to getting as much BTC as it possibly can.
“There are several reasons we’re not disclosing that right now, there might be a time when we do, but I will say we want as much as we can possibly get [...] and we’re going to continue to work on that.”
Bitcoin Miner Phoenix Group Launches Crypto Treasury
Abu Dhabi-based Phoenix Group has launched a $150 million strategic cryptocurrency reserve. The firm is the first publicly listed company on the Abu Dhabi Securities Exchange (ADX) to create a digital asset treasury. The company revealed that the reserve comprises 514 BTC and 630,000 SOL. Munaf Ali, co-founder and CEO of Phoenix Group, stated,
“Holding Bitcoin and other strategic digital assets isn’t just about exposure. It’s about alignment. We believe in the long-term value these networks represent, and our treasury strategy reflects that belief.”
The company was one of the most traded and best-performing stocks on the ADX in the second quarter of 2025, with its share price rising over 72% between April and June. Bitcoin mining companies like Phoenix Group are increasingly considering adding altcoins to their balance sheets, indicating growing institutional demand for assets beyond Bitcoin.
Mara Holdings Completes $650M Deal To Buy More Bitcoin (BTC)
Bitcoin mining firm Mara Holdings has completed a deal to raise $950 million by issuing interest-free senior convertible notes to private qualified investors. The firm plans to use the funds to purchase additional Bitcoin. Mara Holdings is the world’s largest Bitcoin mining firm. It is also the second-largest publicly listed holder of Bitcoin, with a stash of over 50,000 BTC, second only to Michael Saylor’s Strategy.
The company will attempt to close the lead created by Strategy, with many speculating that the company could pivot to a Bitcoin treasury strategy. Mara Holdings stated in its press release,
“The net proceeds from the sale of the notes were approximately $940.5 million. Mara expects to use the remainder of the net proceeds to acquire additional bitcoin and for general corporate purposes.”
Bitcoin (BTC) Price Analysis
Bitcoin (BTC) is struggling to build momentum, with the price hovering around $118,000. The flagship cryptocurrency is marginally up during the ongoing session, trading around $118,435. BTC remains rangebound, trading between $116,000 and $120,000 for over two weeks. Singapore-based trading firm QCP Capital noted that while new all-time highs are a possibility, BTC’s failure to revisit all-time highs warrants caution.
“New highs remain a strong possibility over the medium term. Till Bitcoin’s failure to revisit its all-time highs above $122,800, witnessed earlier this month, flies in the face of continued institutional inflows and favourable regulatory developments. Caution is warranted. Price action has failed to respond meaningfully to a string of positive headlines.”
According to QCP Capital analysts, short-term exhaustion and a price barely reacting to positive catalysts could be a textbook sign of “late cycle behavior.”
“The crypto market is at a critical juncture. Excess leverage in altcoins could leave the broader crypto market vulnerable to sharp deleveraging events.”
BTC’s recent price weakness has sparked concerns about a drop to $110,000 or lower. The flagship cryptocurrency traded above $118,000 on Monday but has gradually slipped lower, dropping to $117,925 on Tuesday and $117,788 on Wednesday before rebounding during the ongoing session. BTC had crossed $119,000 on Tuesday despite signs of a fresh BTC sale by Galaxy Digital. Traders have warned that any downside could snowball and drive prices towards $110,000 or lower.
Trading resource Material Indicators also highlighted the potential for new lows, stating,
“If $116,750 doesn't hold, the $110k range may come into focus quickly.”
However, CryptoQuant highlighted improving consumer confidence data as a reason for optimism, strengthening the bull case scenario for risk assets. The analytics platform stated,
“Today's JOLTS data, coming in slightly below expectations, provided a ‘not too hot, not too cold’ signal for the markets. This creates a positive environment for risk assets. Additionally, the better-than-expected Consumer Confidence data signals a reversal after a 6-month decline, showing growing investor optimism about the future.”
BTC traded in the red over the previous weekend, registering a marginal decline on Saturday and dropping 0.48% on Sunday to settle at $117,240. The price recovered on Monday, reaching an intraday high of $119,603. However, it lost momentum after reaching this level and settled at $117,402, ultimately registering a marginal increase. Bullish sentiment intensified on Tuesday as BTC rallied, rising over 2% to cross $119,000 and settle at $119,982. The price lost momentum on Wednesday, dropping 0.99% to a low of $117,321 before settling at $118,794. Sellers retained control on Thursday as BTC registered a marginal decline, falling 0.35% to $118,381. Selling pressure intensified on Friday as the price plunged to an intraday low of $114,779. However, it rebounded from this level to reclaim $117,000 and settle at $117,565.
Source: TradingView
BTC recovered over the weekend, registering a marginal increase on Saturday and rose 1.31% on Sunday to cross $119,000 and settle at $119,398. Selling pressure returned on Monday as the price fell 1.11% to $118,069. Sellers retained control on Tuesday as the price registered a marginal drop, slipping below $117,000 to settle at $117.925. Selling pressure intensified on Wednesday as BTC plunged to an intraday low of $115,760. However, it rebounded from this level to reclaim $117,000 and settle at $117,788, ultimately registering a marginal decline. The current session sees the price marginally up, trading around $118,377.
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.
Investment Disclaimer
