Bitcoin Price Analysis: BTC Steady Around $118,000 As Rally Takes A Breather

Bitcoin (BTC) looks to be taking a bit of a breather as its rally paused over the weekend. The flagship cryptocurrency’s unprecedented rally sent it to record levels, with the price peaking at $118,856 on Friday. 

BTC raced to a new all-time high on Friday and is marginally up over the past 24 hours, trading around $117,903. The price had dipped to a low of $117,101 early on Monday before recovering and moving to current levels. 

Bitcoin (BTC) Investors Look Ahead To Crucial Week 

Bitcoin (BTC) and crypto investors head into the week betting on a slew of crucial wins for the industry that could bring new investment and capital into the asset class. The US House of Representatives is set to debate several crypto bills that could provide the crypto industry with the regulatory framework it has demanded. President Trump has promised to support the crypto industry and urged lawmakers to draft favorable policies and rules for the sector. The President himself is involved in several crypto ventures, including World Liberty Financial, run by his sons Eric and Don Jr. 

Congress will vote on the GENIUS Act, the CLARITY Act, and the Anti-CBDC Surveillance State Act, as the industry’s recently strained ties with Washington continue to thaw. Jag Kooner, head of derivatives at crypto exchange Bitfinex, stated, 

“Even if final passage stalls, the optics of legislative engagement are bullish.”

Bitcoin’s rally triggered a broader uptick in the market, with several altcoins crossing key levels. Dan Coatsworth, investment analyst at AJ Bell, stated, 

“Investors are racing to take positions ahead of the extra publicity this event could attract.”

Robert Kiyosaki Planning Another Bitcoin Buy 

Robert Kiyosaki, author of the best-selling Rich Dad Poor Dad, has reiterated one of his classic lessons about investor behavior and market timing, especially in terms of Bitcoin. Kiyosaki took to X to discuss investor psychology, stating, 

“Pigs get fat. Hogs get slaughtered. I state this lesson because I bought my latest bitcoin at $110K.”

The best-selling author noted he was entering what investors call the “Banana Zone,” an explosive phase of upward price action driven by retail frenzy. The author contrasted the two types of market participants, stating, 

“Being a fat pig with enough bitcoin… I will wait for the coming hog slaughter. After the hogs stop squealing and selling and blaming bitcoin for their losses, my fellow pigs and I will buy more bitcoin on sale.”

Kiyosaki is well-known for emphasizing long-term thinking and smart entry points when it comes to investing. The latest post emphasizes his philosophy that true gains come from patient and informed investing decisions. 

Retail Traders Missing 

Bitcoin (BTC) hit consecutive highs this week. However, retail investors are visibly absent, hesitant to jump back into the market. Despite this, demand for spot Bitcoin ETFs is surging, with Thursday and Friday recording inflows of over $1 billion, indicating that the rally is being driven by institutional investors. Bitwise head of research Andre Dragosch stated, 

“Bitcoin is at new all-time highs, but retail is almost nowhere to be found. Latest leg up is mostly driven by institutions.”

Some market watchers speculate that retail investors believe they may have missed the boat and perceive the current price as too high to enter the market. Bitcoin commentator Lindsay Stamp stated, 

“I think a lot of retail folks find out the price of one Bitcoin is 117k and think, nahhh I missed the boat, and don’t even give it a second thought.”

Bitcoin (BTC) Price Analysis 

Bitcoin’s (BTC) unprecedented rally has taken a breather over the weekend, as the price consolidates between $117,000 and $118,000. The flagship cryptocurrency set consecutive records this week, racing to a high of $116,393 on Thursday and $118,856 on Friday. The rally is part of a broader trend of investors embracing risk assets thanks to growing institutional interest and acceptance of digital assets like Bitcoin as a legitimate asset class. Inflows and market trends pushed BTC past $118,000, with over $1.4 billion in short positions liquidated. Major industry figures have predicted further upside, stability, and more institutional buying as Bitcoin treasury companies snap up the asset. Analysts expect bullish momentum to continue, with BTC continuing to push higher. Favorable macroeconomic developments next week could drive the price beyond $120,000. 

BTC registered a substantial increase on Wednesday (July 2), rising nearly 3% to $108,845. The price continued pushing higher on Thursday, reaching an intraday high of $110,583 before settling at $109,637. However, it was back in the red on Friday, dropping 1.41% to $108,097. BTC recovered over the weekend, registering a marginal increase on Saturday and then rising almost 1% on Sunday to settle at $109,231. Despite the positive weekend, BTC was back in the red on Monday, dropping nearly 1% to $108,273.

Source: TradingView

The price recovered on Tuesday, rising almost 1% to $108,942. Buyers retained control on Wednesday as BTC rose over 2% to cross $111,000 and settle at $111,255. Bullish sentiment intensified as the price rallied 3.51% to $115,159 on Thursday, setting a new all-time high. BTC raced past $118,000 on Friday, setting another all-time high before settling at $116,885. BTC’s rally paused on Saturday as it registered a marginal decline and settled at $116,616. The current session sees BTC up almost 1%, trading around $117,200.

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.