Bitcoin Price News: Bitcoin Eyes $115K Dip as Seller Exhaustion Builds Near $118K Zone
Key Takeaways:Bitcoin consolidation continues as traders target $115K liquidity zone for potential retest.Glassnode notes a “healthy yet fragile” market as profitability metrics cool after BTC hit $123K.Seller exhaustion is building, suggesting potential for another leg higher.Bitcoin Price Consolidates Near $118K as Liquidity Builds at $115KBitcoin (BTC) continues to consolidate below $120,000 after hitting an all-time high of $123,000 last week, with onchain data and trader sentiment pointing to a potential price dip toward the $115K level.Onchain analytics firm Glassnode described the current price action as a "healthy yet fragile balance," noting in its latest Market Pulse that profit-taking and rangebound trading are likely to persist before a renewed push higher.BTC Profitability Declines, Market Cools After ATHGlassnode highlighted that profitability metrics are beginning to cool, with the Realized Profit-to-Loss Ratio dropping from 3.9 to 2.6 — a sign that some investors are beginning to de-risk after recent gains.“The shift points to a market recalibrating after the recent ATH, with investors adopting a more measured stance amid reduced bullish intensity,” said Glassnode.Despite the pullback, the analytics firm said that the percentage of supply in profit remains in "euphoric territory," indicating that most holders are still in profit. However, momentum is slowing.Analysts Say BTC Price May Retest $115K Before Next MoveMarket participants are increasingly focused on the $115,000–$118,000 range as the likely battleground for Bitcoin’s next move.Crypto trader Daan Crypto Trades pointed to $115K as the largest liquidity cluster, stating that “the longer BTC price hovers near $118K, the more positions build on both sides — acting as fuel for a breakout or breakdown.”“Keep an eye out for these local highs and lows for a potential liquidity sweep,” he added on X, noting that most BTC trading volume has taken place around $118,000, forming a mid-range level for short-term support and resistance.Will Seller Exhaustion Spark the Next Bitcoin Rally?Despite cooling momentum, Glassnode remains optimistic, suggesting that seller exhaustion is setting in, which could pave the way for a resumption of the bull trend.“If profitability continues to weaken, the market may transition into a broader consolidation phase. But if seller exhaustion persists, Bitcoin could be ready for another leg up,” the report said.Historical data from Q2 shows that liquidity-driven price sweeps have often preceded strong rallies, and the current consolidation could be a setup for the next explosive breakout — possibly toward $130K and beyond if bullish momentum returns.
