Bitcoin (BTC) slid to $115,000 Thursday as a wave of profit-taking and new tariff threats triggered a deeper pullback. The move marks a third major consolidation event in recent months, as on-chain and macroeconomic signals converge to cool the crypto rally.
Whale Profit-Taking Hits $6–8 Billion in July
According to CryptoQuant, July saw an $6–8 billion spike in realized profits, indicating that new whales—likely institutional entrants—are cashing out near local highs. This has been a consistent pattern during previous consolidation phases, often leading to temporary corrections before the market resets.
On-chain data shows a clear transfer of BTC from newer, short-term holders to long-term hands—a classic sign of redistribution.
Trump’s New Tariff Push Sparks Risk-Off Sentiment
Adding to the pressure, former U.S. President Donald Trump announced renewed tariffs on Chinese tech imports during a Thursday address. The move reintroduces trade war fears, rattling global markets and sparking risk-off sentiment across crypto and equities.
Tariff tensions historically lead to stronger U.S. dollar positioning—often a bearish signal for BTC.
Analysts Expect Deeper Consolidation Before Rebound
Market analysts say Bitcoin’s current dip is technically healthy, but macro overhang could extend the consolidation through August. Key support lies near the $110K–$112K zone, where whale accumulation and moving averages converge.
“We’re seeing a natural cooling period after extreme gains,” noted a CryptoQuant strategist.
What to Watch Next
- $110K support test: A decisive bounce here could confirm continuation of the uptrend.
- Spot ETF inflows: Recent inflows have slowed but remain positive—watch for pickup.
- Macro headlines: Further tariff escalations or interest rate surprises could drive volatility.
Final Thoughts
Bitcoin’s pullback to $115,000 is a strategic breather in an otherwise bullish year. While profit-taking and macro tensions weigh short term, the long-term structure remains intact—especially if whales begin reaccumulating.
As always, in crypto, corrections are not the end—just the reset.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.