Bitcoin Price Dips to $117K, Still Flips Amazon to Rank 5th Ahead of “Crypto Week.”

The Bitcoin price has dipped 1.52% in the last 24 hours, to trade at $117,759.79, on a 2.9% pump in the daily trading volume, to $76.81 billion.

Bitcoin Price Dips After Flipping Amazon as 5th Largest Asset

Despite this short-term pullback, Bitcoin’s daily trading volume jumped to $89.3 billion as traders braced for heightened volatility across the crypto market. This vibrant activity comes at a time of global spotlight for digital assets, just as the highly anticipated “Crypto Week” approaches.

On Thursday, Bitcoin became the 5th most valuable asset in the world, with a total market value of $2.3 trillion. Bitcoin surpassed Amazon on the list. This news caught the attention of both traditional and digital finance with many seeing this as a sign that Bitcoin is growing in influence on institutional portfolios and asset allocation discussions.

This week saw a record number of high-value BTC transfers, as institutions reportedly continue to add to their Bitcoin holdings, despite the short-term volatility. With the upcoming “Crypto Week”, driving positive sentiment and renewed headlines around digital asset adoption, even as the price eased from recent highs, on-chain and derivatives data show persistent strength.

Bitcoin Price Signals Resilience Despite Correction

The BTCUSD trading pair is currently trading at $118,221 on the daily chart, consolidating above both its 50-day and 200-day Simple Moving Averages (SMAs), at $108,750 and $97,733, reinforcing its broader bullish trend.

Immediate supports lie at the $110,000–$113,500 range; a deeper pullback could find buying interest at $104,000. The next psychological barrier is at $123,218, with further resistance near the $125,000–$130,000 region.

BTCUSD Analysis Source: Tradingview

The Average Directional Index (ADX) at 27.65 still points to a powerful uptrend. While MACD also remains in positive territory, with the MACD line at 2,928 and the signal line at 346, indicating room for continuation once selling pressure decreases.

With the Relative Strength Index (RSI) standing at 66, Bitcoin is neither overbought nor oversold, suggesting an equilibrium between bulls and bears, leaving ample room for renewed moves if sentiment shifts.

Should Bitcoin continue to be supported at the $110,000 – $111,000 zone and ETF investment remains strong, “Crypto Week” headlines could encourage more buyers and create excitement. This could push Bitcoin to attempt new record highs later this quarter.