The post Bitcoin Price Retreats to $116K After Trump Signs GENIUS Act – BTC Technical Analysis appeared on BitcoinEthereumNews.com.

Caroline Bishop
Jul 20, 2025 20:22

BTC price drops 0.86% to $116,994 despite Trump signing crypto-friendly GENIUS Act. Technical indicators show mixed signals as Bitcoin consolidates below ATH.

Quick Take • BTC currently trading at $116,994.87 (-0.86% in 24h) • Bitcoin’s RSI at 61.86 suggests neutral momentum with room for upside • Trump’s GENIUS Act signing provides regulatory clarity for stablecoins, boosting crypto sentiment What’s Driving Bitcoin Price Today? The BTC price is experiencing a minor pullback today following President Trump’s signing of the GENIUS Act on July 21st, which establishes comprehensive regulatory standards for stablecoins. While this legislation represents a significant positive development for the broader cryptocurrency ecosystem, Bitcoin has retreated from its recent highs as traders engage in profit-taking activities. This consolidation comes just days after Bitcoin reached a new all-time high above $123,000 on July 14th during what analysts termed “crypto week” in Washington. The recent institutional activity has been particularly noteworthy, with Semler Scientific adding $25 million worth of Bitcoin to their treasury on July 17th, bringing their total holdings to 4,846 BTC. Similarly, Metaplanet’s substantial $93.6 million Bitcoin purchase of 797 BTC demonstrates continued institutional confidence despite short-term price volatility. The current BTC price action reflects a healthy correction after the explosive rally to new highs. Geopolitical tensions and natural profit-taking following the 60%+ gains from Bitcoin’s previous consolidation levels have contributed to the recent selling pressure. BTC Technical Analysis: Mixed Signals Emerge Bitcoin technical analysis reveals a complex picture as the cryptocurrency consolidates below its recent all-time high. The BTC RSI reading of 61.86 indicates that Bitcoin remains in neutral territory, suggesting there’s room for additional upside movement without entering overbought conditions. The moving average structure remains decidedly bullish, with Bitcoin trading well above all major…

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Filed under: News - @ July 21, 2025 8:32 pm