Bitcoin News Today: Bitcoin Holds Steady as Altcoins Surge 2.5% to 188%

Bitcoin (BTC) maintained a steady position over the past 24 hours, trading near $114,243 with a slight increase of 0.7% [1]. The leading cryptocurrency recorded a trading volume of $24.1 billion, with a market capitalization of $2.27 trillion, indicating relative stability in a market marked by divergent altcoin performance [2]. While Bitcoin showed resilience, Ethereum (ETH) rose 2.5% to $3,527.29, and XRP climbed 4.9% to $2.98, reflecting a broader upswing in the altcoin sector [3].

Smaller-cap altcoins also saw significant movement, with Dogecoin (DOGE), Cardano (ADA), and TRON (TRX) posting gains of 2.9%, 2.5%, and 1.8%, respectively [4]. The altcoin rally was led by Momofun (MM), which surged over 188% in a single day, trading at $0.004876 with a volume of $37.9 million [5]. Additional strong performers included M87 (MESSIER) and UNIART (UNIART), which rose 45.3% and 30.6%, respectively, indicating heightened speculative activity across the crypto space [6].

The broader crypto market witnessed mixed trends. While Bitcoin held firm, long-term holders reportedly sold 50% of their BTC holdings in exchange-traded funds, raising questions about the sustainability of current bullish momentum [7]. The total crypto market capitalization dipped 1.96% to $3.69 trillion, despite a 11.97% increase in 24-hour trading volume to $197.97 billion [8]. DeFi Total Value Locked (TVL) also declined by 3.24%, with major protocols like Aave experiencing a 4.19% drop in TVL [9].

Notably, smaller tokens and meme coins attracted increased attention, with Snowy Owl ($SWOL) soaring 1,136.02% to $0.00007706, one of the largest gains in a single trading session [10]. This surge suggests a growing interest in niche and community-driven tokens. Meanwhile, NFT sales volume fell by 1.15%, although high-profile collections like Bored Ape Yacht Club saw a 260.07% increase in sales [11].

Macro-level factors also influenced market sentiment. Rising geopolitical tensions linked to Trump-related developments and the potential deployment of nuclear subs created uncertainty, prompting increased liquidations across the market [12]. Bitcoin briefly dipped below $115,000 amid ETF outflows, while Ethereum lost over $267 million due to liquidations [13]. Despite these pressures, XRP and TON managed to outperform the broader market, maintaining positive returns [14].

Overall, the past 24 hours demonstrated Bitcoin’s role as a stabilizing force in a volatile market, while altcoins displayed a wide range of performance driven by project-specific developments and speculative trading. As macroeconomic and geopolitical factors continue to shape investor sentiment, both major and smaller crypto assets remain under close scrutiny for signs of renewed momentum or further correction.

Source: [1] Why Is The Crypto Market Rallying Today? (https://coingape.com/why-is-the-crypto-market-rallying-today/)

[2] Bitcoin, Ethereum, Solana, memecoin prices today; check ... (https://www.moneycontrol.com/news/business/markets/cryptocurrency-bitcoin-ethereum-xrp-solana-tron-doge-price-today-live-updates-04-08-2025-alpha-liveblog-13378978.html)

[3] Crypto Market Faces Short-Term Bearish Momentum With ... (https://blockchainreporter.net/crypto-market-faces-short-term-bearish-momentum-with-rising-volatility/)

[4] ibid

[5] ibid

[6] ibid

[7] Bitcoin Long-Term Holders May Be Selling, But Is The Bull ... (https://www.mitrade.com/insights/news/live-news/article-3-1007649-20250803)

[8] ibid

[9] ibid

[11] ibid

[12] Crypto Market Liquidates $1B as Trump Tariffs and Job ... (https://www.xt.com/en/blog/post/crypto-market-liquidates-1b-as-trump-tariffs-and-job-data-rattle-investors)

[13] ibid

[14] XRP TON Outperform in Crypto Downturn Amid BTC Slide (https://www.ainvest.com/news/xrp-news-today-xrp-ton-outperform-crypto-downturn-btc-slide-2508/)