Bitcoin News Today: Bitcoin Holds Support Amid Altcoin Surge, Market Cap Jumps 42%

Bitcoin (BTC USD) has demonstrated resilience in maintaining key support levels despite a surge in altcoin market activity, with the altcoin market cap (TOTAL2) reaching nearly $1.48 trillion—a 42% increase over the past month [1]. This "altseason" has seen Ethereum (ETH) and other major altcoins like XRP, BNB, and Solana (SOL) post double-digit gains, while Bitcoin’s market dominance has dipped to 61%, down nearly 7% from its prior level [2]. Despite these shifts, Bitcoin has traded just 4% below its all-time high, retaining much of its summer gains amid volatile market dynamics.

A significant test of Bitcoin’s stability emerged following a $9 billion sell-off by a Genesis-era whale, which initially triggered a 3% price drop before the asset rebounded to stabilize around $118,000 [3]. This resilience has been attributed to institutional inflows into spot Bitcoin ETFs, including a $356 million net inflow on July 24–25, contrasting with three consecutive days of outflows. Meanwhile, Ethereum ETFs, such as BlackRock’s ETHA, saw record inflows, reflecting broader institutional interest in altcoins during this cycle [4].

Technical analysis highlights a critical juncture for Bitcoin. Bollinger Bands have narrowed, signaling low volatility post-Q2’s rally, while the $116,000 level acts as a pivotal support zone coinciding with the Bollinger median [5]. Analysts note that a breakout above this level could signal a fresh upward trajectory, though a pullback to $112,000 has been predicted by some based on a double-top pattern [6]. Michael van de Poppe, a prominent analyst, suggested that maintaining a price above $116,800 could pave the way for new highs in the coming week [7].

Institutional ownership now accounts for over 10% of Bitcoin’s total supply, with entities holding approximately 2.5 million BTC valued at $292 billion [8]. This growing institutional stake, combined with Bitcoin’s ability to avoid panic selling during the whale sell-off, underscores its role as a hedge against volatility in altcoin markets. However, the altseason’s momentum—evidenced by a 200% year-over-year surge in Ethereum futures volume—has temporarily capped Bitcoin’s upside [9].

Market observers remain divided. While some traders view altcoin strength as a temporary distraction, others see it as a sign of broader capital rotation. The ETH/BTC ratio has emerged as a key metric, with analysts suggesting significant movement in this pair could validate larger shifts in institutional capital allocation [10]. Meanwhile, Bitcoin’s RSI near 60 indicates bulls still have room to build momentum before a potential consolidation phase.

The interplay between Bitcoin’s technical strength and altcoin enthusiasm will likely dictate the market’s next move. Institutional buyers appear to view short-term volatility as an opportunity rather than a threat, while retail investors remain cautious. As the altseason unfolds, monitoring Ethereum’s performance and key technical levels will be critical in assessing whether Bitcoin can sustain its current trajectory amid evolving market conditions [11].

Sources:

[1] [Bitcoin (BTC USD) Holds Support Despite Altseason Euphoria, What’s Next?](https://coinmarketcap.com/community/articles/6885be033c8fb03af0623a7c/)

[2] [Bitcoin (BTC) - Price Turnaround Incoming? Ethereum (ETH)](https://u.today/bitcoin-btc-400-surge-there-xrp-price-turnaround-incoming-ethereum-eth-dominance-ensured)

[3] [Bitcoin Crucial For Every American, Senator Lummis ...](https://u.today/bitcoin-crucial-for-every-american-senator-lummis-shares-bold-bitcoin-statement)

[4] [I sold 70% of my SOL & SUI : r/WallStreetBetsCrypto](https://www.reddit.com/r/WallStreetBetsCrypto/comments/1m92bmc/i_sold_70_of_my_sol_sui/)

[5] [Archives of the Trading](https://www.cointribune.com/en/tag/trading-en/)

[6] [BTC market enters distribution zone again](https://www.facebook.com/groups/250968057873111/posts/783825617920683/)

[7] [Fundamental Analysis — Trading Ideas on TradingView](https://www.tradingview.com/ideas/fundamental/)

[8] [Quantum tech is catching up fast - and with it comes the ...](https://www.tiktok.com/@blockchaincentral/video/7531292208033500438)