Bitcoin News Today: Bitcoin Stagnant Near $119,000 as Traders Await Catalysts; Bitget Forecasts 11.40% Move by Month-End

Bitcoin remains in a consolidation phase near $119,000 in mid-July 2025, with no clear directional bias as traders await catalysts to break the stalemate. The cryptocurrency’s price action reflects a tug-of-war between risk-off sentiment and isolated optimism, leaving it in a "neutral" state. Bitget analysts forecast an 11.40% price change by month-end, projecting a target of $119,360.29 [2], though regulatory inaction and macroeconomic uncertainty have kept the market in a holding pattern. The U.S. Securities and Exchange Commission (SEC) has yet to announce developments regarding XRP, which remains in a bearish technical setup [1], further dampening speculative activity.

Alternative cryptocurrencies exhibit divergent trends, with some tokens showing resilience while others struggle to gain traction. Pi Coin, for instance, has bucked the broader market selloff, maintaining stability as Ethereum and other major tokens decline 4% [3]. This divergence highlights Pi’s appeal as a speculative asset, though its long-term viability remains untested. In contrast, altcoins like Notcoin and Sudeng face challenges in attracting sustained interest, with analysts describing their efforts as “swimming upstream” [4]. The fragmented nature of altcoin trading underscores the difficulty of sustaining momentum without clear bullish signals.

Technical indicators reinforce the market’s indecisiveness. The Relative Strength Index (RSI) for the LINK/UST pair stands at ~59, signaling neutral-to-bullish momentum but failing to push into overbought territory [5]. This pattern is echoed across many altcoins, where hesitation among buyers has prevented meaningful gains. Meanwhile, Bitcoin’s EMA (Exponential Moving Average) remains bearish, with prices dropping to $3.0818—a 3.905% decline—on Binance Square [1]. These cues suggest traders are bracing for potential corrections amid the absence of strong directional bias.

External factors complicate the market outlook. Recent optimism from the U.S.-Japan trade deal, which slashes auto tariffs to 15%, has boosted risk appetite in equities and industrial sectors but has yet to translate into a crypto rally [6]. Bitcoin’s “flight to safety” appeal appears to wane as macroeconomic conditions stabilize, leaving investors to prioritize traditional assets. Analysts note that Bitcoin’s neutral stance may persist until late-July, when the Federal Reserve’s policy meeting could provide clarity [7]. For now, altcoins face an uphill battle to capture attention, with niche strategies like Ethena’s delta-neutral hedging attempts to lock in yields amid volatility [7].

The interplay between Bitcoin’s stagnation and altcoin fragmentation reflects a maturing market where innovation and volatility coexist. While Pi Coin’s resilience offers a glimpse of potential, the broader sector remains fragmented, lacking a unified narrative to drive mass adoption. Traders will likely monitor technical milestones and regulatory updates as key determinants of the next phase of market direction.

References:

[1] Binance Square: XRP Bearish Cues, https://www.binance.com/en/square/post/27368473911633

[2] Bitget Bitcoin Price Prediction, https://www.bitget.com/price/bitcoin/price-prediction

[3] TechJuice: Pi Coin Resilience, https://www.techjuice.pk/pi-coin-seems-to-be-unaffected-by-the-recent-altcoin-surge-bitcoin-lurk/

[4] Crypto Economy: Altcoin Gains, https://crypto-economy.com/moonbull-whitelist-makes-bullish-noise-as-notcoin-and-sudeng-fall-flat-could-this-be-the-next-1000x-crypto/

[5] TradingView: LINK/UST RSI Analysis, https://www.tradingview.com/symbols/LINKUST/ideas//page-14/

[6] TS2: U.S.-Japan Trade Deal Impact, https://ts2.tech/en/record-highs-trade-truces-earnings-shockwaves-wall-streets-wild-48-hours-july-22-23-2025/

[7] AMBCrypto: Ethena’s Hedging Strategy, https://eng.ambcrypto.com/identifying-whats-next-after-ethenas-ena-surges-by-43-as-fee-rewards-near/