Bitcoin News Today: Bitcoin Hovers Near $118K as Bull Market Debates Intensify

Bitcoin's price in late July 2025 has sparked renewed debate over the state of the crypto bull market, with the asset trading near $118,000 on July 30, just below its all-time high of around $123,000. While the price remains near record levels, recent sessions have shown a slowdown in upward momentum, raising questions about whether the rally is stalling or simply pausing before another move higher [1].

Ethereum, meanwhile, has surged more than 50% during July 2025, holding near $3,800 according to CoinMarketCap data. This sharp rise has been driven in part by institutional ETF inflows, which have also supported Bitcoin's price and contributed to overall market confidence [1].

Despite this, the Altcoin Season Index has dropped to approximately 36, indicating that Bitcoin continues to outperform most alternative cryptocurrencies. A broad-based altseason—historically marked by strong performance across mid-cap tokens—has not yet materialized, which analysts see as a potential sign of a more limited bull market phase [1].

Institutional support remains a key underpinning for the market. A U.S. executive order from March 2025 established a strategic Bitcoin reserve, reinforcing the asset's role in national financial planning. Corporate treasuries have also allocated over $86 billion to crypto in 2025, signaling deeper institutional involvement than seen in previous cycles [1].

JPMorgan estimates that more than $60 billion in new capital has entered crypto markets over the past 12 months, surpassing private equity investments during the same period. This trend reflects growing institutional confidence and ETF adoption, which have helped stabilize prices even as speculative trading activity has waned [1].

Ethereum’s performance has been a key indicator of broader market sentiment. Daily trading volumes continue to exceed $15 billion, and the asset has benefited significantly from ETF inflows. Institutional investors have been among the largest contributors to its rally, pushing the price above $3,800 [1].

However, not all signals are positive. Bitcoin’s dominance remains above 60%, suggesting limited capital rotation into altcoins. This dynamic has constrained the depth of the rally and raised concerns about whether the market is entering the kind of broad expansion typically seen in previous bull cycles [1].

Analysts remain divided on the market's trajectory. Some projects have predicted Bitcoin could reach between $150,000 and $200,000 by the end of 2025, citing liquidity cycles and ongoing ETF inflows. Others caution that the Federal Reserve’s upcoming September meeting could serve as a potential headwind if interest rate cuts fail to materialize [1].

Volatility remains a defining characteristic of the market, with daily swings of 3% to 5% common. While Ethereum has outperformed, most altcoins remain relatively muted, and traders are balancing long-term optimism with near-term caution [1].

The current market phase appears to be one of consolidation rather than outright stagnation. Prices remain elevated, institutional support is robust, and adoption continues to expand. However, the absence of a broad altcoin rally and uncertainty over monetary policy are keeping the market in a holding pattern [1].

The coming months will be crucial in determining whether the bull market resumes its upward trajectory or settles into a period of consolidation. For now, the market remains in a delicate balance between optimism and uncertainty [1].

Source: [1] Bitcoin Hovers at $118K: Is the 2025 Bull Market Stalling or Reloading? (https://cryptonews.com/news/bitcoin-118k-2025-bull-market-momentum/)