Bitcoin News Today: Bitcoin Holds Near $120K as Altcoin Season Gains Momentum

Bitcoin remains in the vicinity of $119,186 after briefly surpassing $124,000 amid policy-driven activity and macroeconomic uncertainty. Over the past few days, the price has fluctuated near key resistance levels, indicating the market is in a consolidation phase. This behavior has raised questions about whether Bitcoin can maintain its upward momentum or if further downward pressure from U.S. Federal Reserve commentary and derivatives activity could trigger a pullback ahead of the monthly close [1].

Despite the uncertainty, the broader cryptocurrency market is increasingly turning its attention to altcoins as Bitcoin’s market dominance has fallen from over 65% in early 2025 to below 60%. This shift has sparked speculation about the possibility of an altcoin season, with investors rotating capital toward high-cap tokens such as Ethereum and Solana. Institutional inflows and improved technical indicators for Ethereum, now trading near $4,690, have further fueled this trend [2].

Ethereum’s price action has been particularly noteworthy. If it can break through the $4,800 resistance level, it may open the door to a potential surge toward $5,500–$6,000. However, a drop below the $4,000 support level could signal a bearish turn, especially as institutional capital continues to assess altcoin opportunities. The growing interest in Ethereum has also been bolstered by the U.S. government’s recent move to establish a “Strategic Bitcoin Reserve” via executive order, a policy analysts believe could enhance Bitcoin’s long-term stability and reinforce the broader crypto market’s appeal [3].

In addition to Bitcoin and Ethereum, other major altcoins are showing signs of strength. Solana (SOL) is currently trading at $195.42, with forecasts pointing to a potential rise to $240–$280 in the coming months, driven by increasing NFT market activity and dApp adoption. Dogecoin and XRP also feature in updated Q3–Q4 2025 price predictions, with Dogecoin projected to reach $0.25–$0.35 and XRP potentially climbing to $1.30–$1.50 [4].

Analysts argue that the combination of falling Bitcoin dominance and institutional interest in altcoins suggests a rotation of capital is underway, with the coming months potentially shaping the narrative for the rest of 2025. The overall market sentiment appears to be shifting, with altcoins gaining traction as investors seek high-beta opportunities amid a dynamic macroeconomic environment.

However, risks remain. Sudden policy changes, macroeconomic surprises, and technical breakdowns in key assets could reverse current trends. As such, investors are advised to remain cautious while keeping a close eye on both Bitcoin’s price action and the performance of leading altcoins [5].

Source:

[1] [2] [3] [4] [5]

[1] title: Bitcoin Holds Near $120K as Altcoin Season Chatter Heats Up (https://coinmarketcap.com/community/articles/689f33f5d3fffe3dd57d9482/)