Bitcoin (BTC) Price Prediction: With eyes on the descending triangle pattern, can the price achieve a 100% increase?

A significant triangle pattern has emerged recently, and Bitcoin price predictions are now hopeful for a 100% move, while bulls defend the support level of $115,000.

The price of Bitcoin is still caught in a tug-of-war between positivity and negativity, and the price movements of the currency now form a descending triangle pattern that faces clear resistance at the trend line.

Currently, the critical support area for the price of Bitcoin lies between $115,000 and $116,000, where bullish speculators are strongly positioned. This resilient support has sparked optimism that Bitcoin's price could achieve gains of 100%, equivalent to double the current price levels.

Galaxy Digital and inactive whales are behind the decline in the price of Bitcoin.

The recent decline in the market is primarily attributed to the selling pressure from Galaxy Digital's ongoing sales of Bitcoin. In just one trading session on Friday, the company sold 12,850 Bitcoin valued at around $1.5 billion across various trading platforms.

Update: #GalaxyDigital has transferred nearly 30,000 $BTC($3.5B) out today, most of which went directly to exchanges and were sold.

Then #GalaxyDigital withdrew 1.15B $USDT from exchanges. #GalaxyDigital still holds 18,504 $BTC($2.14B). https://t.co/bVtNwP2iXI pic.twitter.com/Wv1cD3aHbf
— Lookonchain (@lookonchain) July 25, 2025

Additionally, long-dormant Bitcoin whales have sold billions of dollars worth of BTC in recent trading sessions.

All of these selling pressures combined have led to widespread liquidations, pushing the price of Bitcoin below $116,000 as the market attempts to regain its balance.

In this context, Bitcoin analyst Ki Young Ju noticed a significant difference from the bullish market cycle of 2021, pointing out that the whales sold their holdings to retail investors back then, while the current cycle sees inactive whales transferring their holdings to new institutional investors looking for long-term investment.

Bitcoin cycle theory is dead.

My predictions were based on it—buy when whales accumulate, sell when retail joins. But that pattern no longer holds.

Last cycle, whales sold to retail. This time, old whales sell to new long-term whales. Institutional adoption is bigger than we…
— Ki Young Ju (@ki_young_ju) July 24, 2025

Nonetheless, institutional investors and long-term investors continue to benefit from lower prices.

Prominent crypto entrepreneur Arthur Hayes maintains an optimistic view, expecting Bitcoin's price to rise by 100% from current levels to around $250,000 by the end of 2025.

Bitcoin Price Prediction: The Relative Strength Index (RSI) indicates extreme selling levels at 37.8.

Technically, the chart for the BTC/USDT pair measured over 4 hours shows that the price of Bitcoin has entered a period of extreme volatility, currently hovering around $116,041 after retreating to the lower bounds of a large gap area (due to a large difference between the opening and closing prices) on the Chicago Mercantile Exchange (CME).

It is worth noting that Bitcoin is currently trading below the descending support trend line, which has flipped to become resistance, reinforcing the current bearish framework.

In addition to the current price movement, there is a fair value gap (FVG) extending between $119,000 and $121,000, which may represent a potential target if the upward momentum returns.

As for the Relative Strength Index (RSI), it seems to have recently touched the extreme oversold area near 37.8 before showing signs of modest recovery. The current movement of the RSI indicates that the short-term downward momentum may be waning, which could support a corrective rebound.

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