NewsBTC

17 August 2025

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Bitcoin Price Stabilizes at $118,000 with Key Support Levels Identified

Bitcoin recently reached a new all-time high above $124,100 but has faced bearish pressure, settling around $118,000. Key support levels identified are:

• $117,500
• $114,500

Crypto analyst Ali Martinez noted these levels based on the cost-basis distribution of Bitcoin supply, indicating significant investor activity at these prices. Data shows:

• 72,900 BTC were bought near $117,500
• 56,201 BTC were acquired around $114,500

These levels may serve as support, as investors could buy more Bitcoin if prices approach their previous cost bases. A break below $114,500 could lead to a significant correction due to lack of support. Currently, Bitcoin is priced at approximately $117,600, with minimal movement over the past day and a 0.7% increase in the last week.