On July 12, 2025, Bitcoin is trading at approximately 117,804, with a slight 0.02% decline over the past 24 hours. This price reflects significant growth compared to its all-time high of 111,906 on May 22, 2025. However, the cryptocurrency market remains a focal point for traders and investors due to its inherent volatility. Technical analysis of Bitcoin’s 4-hour chart suggests a short-term bullish continuation scenario, potentially followed by a deeper retracement. A liquidity zone around 110,612 is identified as a key area that could attract stop-loss orders. This level, along with a Fair Value Gap (FVG) support zone near 106,000, serves as critical reference points for traders. A breakout above the 111,000 resistance with strong volume could pave the way for higher targets, such as 120,000. A significant recent event was the movement of 80,000 BTC from wallets dormant since 2011, valued at over 8.6 billion, marking the largest transfer of inactive Bitcoin in history. This move, possibly for wallet security upgrades, private key recovery, or preparation for off-exchange sales, briefly pushed prices below 108,000. However, strong ETF inflows indicate robust demand for Bitcoin. From a macroeconomic perspective, news about tariffs and economic policies has influenced the market. Positive responses from countries affected by new tariffs could act as a local bullish catalyst. Traders should monitor trading volume and momentum indicators to avoid trend reversals. Currently, Bitcoin is in a price discovery phase, and as long as the green support zone holds, the bullish structure remains intact. Traders should watch resistance levels between 110,000 and 120,000 and support levels from 100,000 to 106,000. On-chain data suggests continued institutional accumulation, but whale behavior and macro news could drive further volatility. Overall, despite short-term fluctuations, Bitcoin’s long-term outlook appears bullish, especially if key support levels hold. Traders should employ proper risk management and watch for candlestick pattern confirmations to seize buying or selling opportunities.