Bitcoin News Today: Altcoins Surge as Bitcoin Stabilizes at $118,300 Ether Gains 97% HBAR Jumps 34%

Bitcoin's recent surge past its previous all-time high has sparked a significant bull run in the cryptocurrency market, with investor sentiment reaching unprecedented levels. This surge has not only stabilized Bitcoin around $118,300 but has also driven a rally in altcoins, particularly Ether, which has seen a 97% increase since the beginning of the year. This surge in Ether is fueled by Bitcoin's declining dominance and Ether's recent breakout above its 50-week moving average, sparking speculation of an altseason.

Grayscale, a prominent issuer of crypto ETFs and trusts, has been a key player in the market for years. They have navigated through bear markets, constantly innovating and keeping a beacon alive for the altcoin bull index, a key indicator to foresee market shifts in altcoins. The Altcoin Bull Index, a proprietary indicator by Glassnode, was triggered on July 9. This suggests an increase in stablecoin supply, a capital influx into Bitcoin and Ether, and a rising altcoin market value—creating a conducive structural environment for capital rotation. The indicator still suggests potential for further upward movement. If it maintains its momentum, it could reach highs similar to last year’s election season. In such a scenario, altcoins are poised for significantly higher returns. For now, the altcoin bull market seems to be underway.

Hedera Hashgraph (HBAR) has also experienced a notable surge, with its price jumping nearly 34% within days. This rally has caught many traders off guard as it broke past key resistance levels. The surge in HBAR's price can be directly linked to its pivotal role in EQTY Lab’s announcement at the RAISE Summit 2025. The news revealed a multi-organization collaboration involving NVIDIA, SCAN UK, Accenture, and Hedera to power Verifiable Compute for sovereign AI systems using the NVIDIA Blackwell architecture. Hedera's distributed ledger is being used as the cryptographic backbone to register and enforce compliance of AI workflows, significantly strengthening Hedera’s use case as the go-to platform for mission-critical, regulated environments, particularly for defense, health, and public sector AI governance.

The technical rally in HBAR coincides with the EQTY announcement, which highlights Hedera as the underlying DLT infrastructure for cryptographic verification and sovereign compliance in autonomous AI. This real-world enterprise-grade adoption narrative has dramatically boosted investor confidence in HBAR’s long-term viability. The result is a surge of both volume and price action, as the market begins to price in Hedera’s growing relevance in high-assurance, high-performance AI workflows. If this adoption expands across governments and defense sectors, HBAR’s current rally could just be the start of a much larger revaluation.

On the daily chart, HBAR price has broken above key resistance levels marked at $0.19 and $0.205, which now act as support. Fibonacci retracement levels drawn from the recent swing low around $0.145 to the local high of $0.219 indicate next resistance near $0.23 (1.618 extension) and major breakout resistance at $0.25. The RSI at 80.12 is in the overbought zone, historically indicating a potential correction. However, the consistent upward candles show strength, and the RSI bullish crossover happening in early July suggests that momentum remains with the bulls, though a short-term consolidation is likely.

The surge in altcoins, driven by Bitcoin's new all-time high, indicates a broader bullish sentiment in the cryptocurrency market. The rally in Ether and HBAR, in particular, highlights the growing relevance of these altcoins in the market. As Bitcoin continues to stabilize around $118,300, the focus shifts to altcoins, which are experiencing significant gains. The technical indicators for HBAR suggest a potential for further growth, but traders should remain cautious due to the overbought RSI levels. A healthy dip could offer a better entry point before the next rally toward $0.25+. If the breakout sustains, HBAR price could be on track for its best monthly close in over a year.