Bitcoin News Today: Bitcoin Holds Above $117,000 as Altcoins Surge on Decentralized Infrastructure Demand

Bitcoin remained above $117,000 as of late August 2025, maintaining a stable position amid broader market uncertainty and macroeconomic pressures [3]. This stability provided a favorable environment for altcoins to outperform the broader market [1]. Among the top performers, Chainlink (LINK), Arbitrum (ARB), and Injective (INJ) led the way, showcasing significant gains driven by renewed investor interest in decentralized infrastructure and Layer-2 scaling solutions [1].

Chainlink (LINK) was the top gainer, rising 12.62% in the last 24 hours to $25.54 [1]. The token also gained over 16% in the past week, pushing its market cap to $17.3 billion, with $2.46 billion in daily trading volume. This strong performance reinforced Chainlink's position as a key player in blockchain infrastructure, particularly in oracle services.

Arbitrum (ARB), an Ethereum Layer-2 scaling solution, rose 9.13% in the last 24 hours, with a weekly gain of more than 15% [1]. Trading at $0.53, the token’s market cap reached $2.76 billion, supported by nearly $846 million in daily volume. The rally reflected growing demand for scalable and cost-effective smart contract solutions.

Injective (INJ), a decentralized derivatives protocol, gained 6.69% in the last 24 hours, trading at $15.53 [1]. The token also recorded an 8.17% increase over the past week, with $1.55 billion in market cap and $178 million in daily trading volume. Injective’s performance highlighted its growing role in decentralized finance and on-chain trading infrastructure.

MemeCore (M) and Virtuals Protocol (VIRTUAL) also recorded gains, though they displayed higher volatility. MemeCore rose 8.40% to $0.44 in the past 24 hours, but fell 3.51% for the week [1]. Virtuals Protocol rebounded 8.37% in the last 24 hours, reaching $1.31, but dropped 9.07% on the weekly chart. Both tokens showed speculative momentum, but remained more sensitive to short-term market sentiment.

Market analysts noted that Bitcoin’s consolidation above $117,000 had created favorable conditions for altcoin movement [1]. Chainlink’s dominance, Arbitrum’s scaling momentum, and Injective’s DeFi positioning indicated that capital was rotating into alternative assets. However, tokens like MemeCore and Virtuals Protocol, with smaller market caps and lower liquidity, remained more volatile and speculative.

If Bitcoin maintains its stability, altcoins may continue to see upward momentum, potentially setting the stage for a broader market breakout [1]. Nevertheless, investors were advised to remain cautious, particularly for smaller tokens where volatility could intensify quickly. The broader market remained sensitive to macroeconomic developments, including inflation data and central bank policy shifts [6].

Institutional adoption and corporate Bitcoin buying were expected to influence Bitcoin’s trajectory [7]. Recent additions by UK-based firms and Tokyo-listed companies highlighted the growing trend of institutional participation in digital assets. Additionally, the launch of new products such as the iShares Ethereum Trust ETF and Invesco QQQ Trust underscored the increasing mainstream acceptance of crypto-related investments [8].

The overall market remained in a consolidation phase, with Bitcoin acting as a key anchor for broader crypto sentiment. As long as the price held above $117,000, altcoin gains were likely to continue. However, investors were advised to monitor on-chain activity and macroeconomic indicators for potential shifts in market direction [6].

Sources:

[1] Coindoo. (2025, August 7). Top 5 Crypto Gainers Today as Bitcoin Holds Steady Above $117K. https://coindoo.com/top-5-crypto-gainers-today-as-bitcoin-holds-steady-above-117k/

[3] Investing.com. (2025, July 14). Cryptocurrency Analysis and Forecast. https://ng.investing.com/analysis/cryptocurrency

[6] CryptoRank. (2025, August 2). $3.5B in Realized Profits: Will Bitcoin Drop Below $110K... https://cryptorank.io/news/feed/f0680-bitcoin-3-5b-profit-drop-below-110k

[7] BlockchainReporter. (2025, August 8). BlockDAG Presale At $0.0276 Could Deliver 36× ROI... https://blockchainreporter.net/blockdag-at-0-0276-the-early-bet-that-could-dominate-2025s-top-crypto-projects/

[8] Yahoo Finance. (2025, August 3). Most active ETFs: ETF contracts with the highest trading volume. https://sg.finance.yahoo.com/markets/etfs/most-active/