- Bitcoin holds above $115K support as bulls defend key Fair Value Gap zone
- Long-term holders drive $3.5B in profits, signaling potential short-term top
- CPI, PPI reports may trigger post-dip rally as seen in prior market patterns
Bitcoin saw a slight pullback today, dropping over 4% in the last 24 hours. Despite the dip, the broader trend remains bullish. The flagship cryptocurrency as of press time trades at $116,528, still showing a 7.14% gain over the past week. Market analysts are closely watching current price action as it hovers just above strong support levels.
The recent sell-off follows a sharp rally that lifted Bitcoin to new yearly highs, and profit-taking has begun especially among long-term holders.
Strong Support Holds Despite Short-Term Dip
According to Titan of Crypto, Bitcoin recently retested a critical support zone. The price bounced above the Tenkan level at $115,400 and held above the Fair Value Gap between $115,200 and $112,000. This confluence zone has now become a focal point for bulls and bears alike. Holding above this range may set the stage for another leg higher.
#Bitcoin Short-Term Update 💥#BTC has just retested the key level. It remains just above a strong confluence of supports:
— Titan of Crypto (@Washigorira) July 15, 2025
🔴 Tenkan at $115,400
🟩 Fair Value Gap (FVG) between $115,200 – $112,000
Holding this zone could pave the way for the next leg up. pic.twitter.com/JOxVlRtjCR
Besides technical factors, timing also plays a role. As noted by analyst Ali Martinez, Bitcoin often reacts to CPI and PPI reports. Historically, the asset dips just before these macroeconomic announcements, only to rally afterward.
This pattern held firm over the past several months. From January to March 2025, Bitcoin declined sharply to near $72,000. However, since April, the asset has reversed course, forming a bullish structure of higher highs and lows.
When #Bitcoin $BTC dips ahead of CPI or PPI reports, it often rallies right after the data drops — and vice versa. pic.twitter.com/nbXbxACeTL
— Ali (@ali_charts) July 15, 2025
Long-Term Holders Take Profits Amid Market Strength
On-chain data from Glassnode reveals that investors realized $3.5 billion in profits over the last 24 hours one of the highest daily profit events this year. Significantly, long-term holders accounted for 56% of this, while short-term holders realized 44%.
Such a high level of profit-taking often hints at temporary cooling in price. Historically, these events mark local tops or caution zones. Still, with strong technical support and rising market demand, a full reversal appears unlikely at this stage.
