Bitcoin News Today: Bitcoin Hits $120,000 as Altcoin Season Gains Momentum

As of July 31, 2025, Bitcoin reached a record high near $120,000, marking the onset of what is being called "Altseason 2025." The rally has triggered a notable shift in investor focus from Bitcoin to alternative cryptocurrencies, driven by a decline in Bitcoin’s market dominance and increasing liquidity in altcoin markets. This period is characterized by surging trading volumes and heightened on-chain activity in major altcoins, suggesting a reallocation of capital within the crypto space [1].

Bitcoin’s dominance has dipped, historically a precursor to altcoin performance boosts, mirroring bull cycles from 2017 and 2021. Ethereum, the second-largest cryptocurrency, has seen mixed performance despite institutional inflows, with its price stagnating near $4,000 and falling 2.33% in the previous 24 hours as of July 30. Analysts have cited a lack of clear innovation and regulatory advantages favoring Bitcoin as reasons for Ethereum’s underperformance [4].

The broader altcoin market, however, is gaining traction, with key trading pairs like ETH/BTC and SOL/BTC showing increased volumes on Binance. On-chain data indicates that traders are shifting capital into altcoins, anticipating a wider market rotation. Analysts predict that some low-cap tokens could see returns of up to 200x or even 250x, fueled by both speculative and institutional interest [3].

Institutional involvement is also evident, with Bitcoin ETFs recording consistent inflows. However, similar ETF-driven enthusiasm has not translated into price appreciation for Ethereum, raising questions about the effectiveness of these instruments in stimulating broader altcoin enthusiasm [4]. Meanwhile, on-chain activity suggests that Bitcoin whales continue to accumulate at current price levels, signaling long-term confidence in the asset [6].

As the market consolidates near Bitcoin’s $120,000 level, the stage is set for altcoins to lead the next phase of growth. With rising futures volumes and speculative interest in presales, the crypto landscape is shifting, offering potentially higher returns for investors who pivot their strategies [3].

Sources:

[1] PANews - Ten-year-old Ethereum begins its march towards Wall Street (https://www.panewslab.com/en/articles/wl3cdoc1)

[2] Coin - Altcoin season 2025 on-chain data signals start (https://coinedition.com/altcoin-season-2025-on-chain-data-signals-start/)

[3] Pintu - 5 Hot Altcoins of 2025: Crypto that Analysts Predict to Soar (https://pintu.co.id/en/news/186654-5-hot-altcoins-of-2025-crypto-that-analysts-predict-to-soar-100x-in-altseason-2025)

[4] Cryptopolitan - Ethereum price prediction 2025, 2026, 2027-2031 (https://www.cryptopolitan.com/ethereum-price-prediction/)

[6] The - Bitcoin Hyper Layer 2 presale nears $6M (https://en.cryptonomist.ch/2025/07/30/bitcoin-hyper-layer-2/