The post Bitcoin Hovers Near $118K as White House Digital Asset Report Looms appeared on BitcoinEthereumNews.com.

Peter Zhang
Jul 30, 2025 09:40

BTC price trades at $118,034 (-0.64% daily) with mixed technical signals as regulatory clarity awaits from today’s White House digital asset framework report.

Quick Take • BTC currently trading at $118,034.47 (-0.64% in 24h) • Bitcoin’s RSI at 58.37 shows neutral momentum with bearish MACD divergence • White House releasing comprehensive digital asset regulatory report today What’s Driving Bitcoin Price Today? The BTC price remains consolidating around $118,000 levels as markets await the White House Digital Asset Task Force report, scheduled for release today under advisor Bo Hines’ leadership. This comprehensive regulatory framework document focusing on stablecoins and broader digital asset oversight has created a cautious atmosphere among Bitcoin traders. Yesterday’s modest decline of 0.64% reflects profit-taking behavior following Bitcoin’s impressive surge past $120,000 on July 23, when whale activity drove significant momentum with a massive $920 million withdrawal from Kraken exchange. The BTC price has since retreated from those highs, currently trading within a tight range as institutional players position themselves ahead of potential regulatory clarity. The regulatory uncertainty has temporarily overshadowed the previous week’s bullish sentiment, though Bitcoin maintains strong structural support above key moving averages. Market participants appear to be adopting a wait-and-see approach, with many expecting the White House report to provide crucial guidance on how digital assets will be regulated moving forward. BTC Technical Analysis: Mixed Signals Emerge Bitcoin technical analysis reveals conflicting momentum indicators at current levels. The BTC RSI reading of 58.37 places Bitcoin in neutral territory, suggesting neither overbought nor oversold conditions. This reading indicates room for movement in either direction, making the upcoming regulatory news particularly significant for price direction. However, Bitcoin’s MACD presents a more cautious picture with the histogram showing -456.73, indicating bearish momentum despite…

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Filed under: News - @ July 31, 2025 3:25 am