Binance Records Major Liquidation as Bitcoin Dips to $117K

Bitcoin experienced a notable pullback on July 24, 2025, dropping over 2% from its daily high above $120,000 to test the $117,500 support level. This decline triggered a wave of leveraged position liquidations totaling more than $500 million across cryptocurrency exchanges. Binance stood out with the largest single liquidation order—a $3.97 million ETH-USDT trade—highlighting the exchange's significant role in the market during volatile periods. Analysts offered mixed interpretations of the price movement. Michaël van de Poppe viewed the drop as part of routine range-bound trading activity, suggesting it reflects normal market behavior rather than a bearish trend. The liquidation wave underscores the risks associated with leveraged trading in the crypto market, particularly during periods of heightened volatility. Despite the pullback, Bitcoin's long-term bullish trajectory remains intact, with the $117,500 level now serving as a key support zone to watch. This event demonstrates Binance's continued dominance in handling large-scale trades during market fluctuations, reinforcing its position as a leading global cryptocurrency exchange.

Bitcoin Retreats to $117K Amid Market Liquidation Wave

Bitcoin's price slid more than 2% during Wednesday's trading session, retreating from a daily high above $120,000 to test the $117,500 support level. The move triggered over $500 million in Leveraged position liquidations across crypto exchanges, with Binance recording the largest single order—a $3.97 million ETH-USDT trade.

Analysts diverge on interpretation: Michaël van de Poppe framed the drop as routine range-bound action, while crypto Virtuos identified $113,000 as the next Fibonacci support target. Despite short-term bearish signals, mid-term projections suggest potential upside toward $138,000 as Bitcoin's growing market dominance raises concerns for altcoins.

Pi Network Wallet Update Hints at Binance Integration and Trading Access

Pi Network's latest wallet update has sparked speculation about a potential Binance listing for its native Pi coin. The wallet now includes Binance Connect Support and Binance P2P Support options, signaling technical alignment with the exchange's infrastructure.

The integration of Binance P2P could enable direct fiat-to-PI trading, while new payment options like credit cards and Google Pay suggest growing market readiness. These developments appear strategically timed as Pi Network works to meet exchange listing requirements.

While no official confirmation exists, the quiet addition of Binance-related support features has drawn significant attention across crypto markets. The MOVE follows earlier wallet enhancements positioning PI for broader exchange accessibility.