Bitcoin News Today: Bitcoin Dips 0.6% as Crypto Market Volatility Persists Amid PayPal Expansion

The crypto market experienced a mixed performance on July 29 as Bitcoin (BTC) and other major assets faced selling pressure amid broader market volatility. Bitcoin traded around $118,933, having dipped to a session low of $117,527 before rebounding. Despite the recovery, BTC remained down 0.60% for the session, trading within a $116,000–$120,000 range that has persisted for weeks [1]. Analysts noted that BTC’s resilience above $115,000 suggests bullish momentum, with some predicting a potential break above $120,000. Tom Lee of Fundstrat highlighted a long-term forecast of BTC reaching $250,000 by 2025, citing its undervaluation relative to the gold market [1]. However, short-term liquidity clusters near $120,500 and institutional buying activity following dips were emphasized as key drivers for near-term price action [1].

Ethereum (ETH) faced stronger downward pressure, falling nearly 3% to $3,816 after hitting a 24-hour high of $3,938. The asset showed structural strength, supported by $71 billion in open interest and 16 consecutive days of spot ETF inflows totaling $5 billion [1]. Institutional buyers, including SharpLink, accelerated ETH purchases, with COO Shashank Sripada noting that the asset lacks immediate catalysts beyond ETF flows [1]. ETH’s recovery to $3,874 in the current session indicated renewed buyer interest, though a retest of the $4,000 level remains pending [1].

Solana (SOL) saw significant volatility, surging to $205 on Tuesday before retreating to $183. The asset’s intraday movements highlighted strong demand at lower levels, with SOL trading around $184 in the current session. Weekly trends showed a sharp correction to $175 on Friday, followed by a partial rebound to $186 by the weekend [1]. Analysts attributed the resilience to long-term holders moving assets into cold storage, a bullish sign for sustained accumulation [1].

Bittensor (TAO) oscillated between $403 and $452, with a 1.61% gain in the current session as buyers sought to keep the price above $400. The asset faced sharp declines on Wednesday and Friday, dropping 6% and 2.5%, respectively, but recovered modestly over the weekend. TAO’s recent performance reflected mixed institutional activity, with sellers retaining control during key resistance tests [1].

Ripple (XRP) declined nearly 5% to $3.12, recovering slightly from a session low of $2.95. The asset experienced a broader market selloff, dropping 19% last week, though analysts described the correction as “healthy” for long-term stability [1]. XRP’s recent fluctuations aligned with broader market trends, with traders monitoring key support levels around $3.10 to assess further direction [1].

The market’s broader context included PayPal’s expansion of “Pay with crypto” to merchants, supporting over 100 cryptocurrencies and aiming to cut cross-border transaction fees by up to 90% [1]. Meanwhile, the SEC extended the review of the Truth Social Bitcoin ETF to September, with no formal objections raised so far [1].

[1] Source: Cryptodaily.co.uk, Crypto Price Analysis 7-29: Bitcoin, Ethereum, Solana, Bittensor, Ripple (https://cryptodaily.co.uk/2025/07/crypto-price-analysis-7-29-bitcoin-btc-ethereum-eth-solana-sol-bittensor-tao-ripple-xrp)