Bitcoin News Today: Bitcoin Hovers Near $118K as Altcoins Struggle for Momentum Amid Dwindling Investor Optimism

Bitcoin remains in a prolonged consolidation phase, trading near $118,000 as of July 19, 2025, while altcoins continue to grapple with generating sustained momentum despite occasional short-term rallies [1]. The dominant cryptocurrency has lingered below its $123,000 peak set on July 14, failing to break through the $120,000 resistance level. Coinmarketcap’s Greed Index, which measures investor sentiment, dipped from 70 to 67 over the past week, reflecting waning optimism for a 2025 altcoin surge [2]. Simultaneously, the Altcoin Season Index, a proxy for alternative cryptocurrency strength, fell from 56 to 40, underscoring the lack of conviction in broader market participation.

Despite Bitcoin’s relative stability, altcoins have struggled to eclipse its dominance. Ether (ETH) and XRP, the two largest altcoins, experienced double-digit gains earlier in the week, while niche tokens like pudgy penguins (PENGU) surged nearly 34%. However, these gains proved fleeting. The implosion of the PUMP token, which fuels the memecoin platform pump.fun, further signaled market fragility. Analysts note that while some altcoins display short-term bullish patterns, they lack the institutional adoption or macroeconomic catalysts needed to drive sustained growth [3].

Technical indicators reinforce the stalemate. Bitcoin’s 24-hour trading volume rose 9.94% to $74.27 billion, yet its market capitalization increased only marginally to $2.35 trillion. BTC dominance dipped slightly to 61.83%, reflecting ongoing caution among investors [1]. On-chain data reveals stagnant volume and muted price volatility, suggesting a lack of directional bias. The flattening MACD (Moving Average Convergence Divergence) indicator and weak trading activity highlight traders’ hesitancy to commit capital, creating a tug-of-war between buyers and sellers [2].

The altcoin segment, though fragmented, shows isolated pockets of resilience. For instance, the Cardano community reported stable transaction volumes despite stagnant pricing, hinting at potential long-term network utility [5]. However, broader skepticism persists, with many investors opting to hold cash or large-cap assets until clearer trends emerge. Notcoin and Sudeng, which briefly outperformed earlier in the month, have since retreated into sideways trading, exemplifying the market’s fragmented nature [3].

Market observers emphasize Bitcoin’s critical role in shaping the broader crypto landscape. A break above $120,000 could reinvigorate altcoin activity, providing smaller assets with renewed liquidity. Conversely, a sustained drop below $117,000 might prolong the current neutral phase, stalling momentum for alternative cryptocurrencies [4]. Analysts caution that until macroeconomic clarity improves or regulatory frameworks solidify, the market is likely to remain in a state of cautious equilibrium.

Sources:

[1] [Pi Coin Seems To Be Unaffected By the Recent Altcoin Surge](https://www.techjuice.pk/pi-coin-seems-to-unaffected-by-the-recent-altcoin-surge-bitcoin-lurk)

[2] [Bitcoin Nananatiling Neutral Habang Nahihirapan ang Altcoins sa Paghahanap ng Momentum](https://news.bitcoin.com/tl/bitcoin-nananatiling-neutral-habang-nahihirapan-ang-altcoins-sa-paghahanap-ng-momentum)

[3] [MoonBull Whitelist Live, Sudeng Fall Flat](https://crypto-economy.com/moonbull-whitelist-makes-bullish-noise-as-notcoin-and-sudeng-fall-flat-could-this-be-the-next-1000x-crypto)

[4] [Pennant — Trading Ideas on TradingView](https://www.tradingview.com/ideas/pennant)

[5] [Cardano Community Post](https://www.facebook.com/groups/CardanoCommunity/posts/2179****25765997/)