Bitcoin News Today: Bitcoin Surges 1.46% to $118,000 Amid Altseason Signs and Institutional Demand

Bitcoin rose to over $118,000 on July 26, reflecting a 1.46% increase in the last 24 hours, as reported by multiple data sources. The price gain followed a temporary decline to approximately $116,000 earlier in the week, highlighting Bitcoin’s resilience amid broader market volatility. The movement suggests a consolidation phase after Bitcoin previously hit a peak above $123,000 [1]. Analysts observed that the 1.46% daily rise indicates strong demand, potentially fueled by renewed institutional interest and macroeconomic factors such as inflation trends and central bank policies. However, the pullback from the $123,000 level has raised caution among traders, with some viewing $118,000 as a critical psychological barrier to monitor [1].

The cryptocurrency’s performance aligns with broader improvements in the crypto market, as Ethereum posted a 1.45% weekly gain, signaling improved risk appetite. Concurrently, three alternative cryptocurrencies experienced a 40% surge, suggesting a possible “altseason” as investors shift capital toward smaller tokens [1]. Bitcoin’s dominance remains intact, with its movements often influencing the trajectory of other digital assets. The absence of major regulatory interventions or bearish signals has allowed the rally to persist, though traders remain vigilant against overbidding risks [1].

From a technical standpoint, Bitcoin’s ability to hold support near $116,000 earlier in the week demonstrated its stability, while the subsequent push above $118,000 reinforced trader confidence in its long-term potential. Market observers note that sustained growth will depend on broader economic indicators, including upcoming inflation data and central bank policy decisions, which could shape investor sentiment in the coming weeks. The maturation of the crypto market is also evident, as Bitcoin’s price dynamics increasingly decouple from traditional assets, driven by adoption rates, regulatory developments, and network upgrades [1].

Bitcoin’s recent trajectory underscores its evolving role in the financial ecosystem. While its volatility persists, the cryptocurrency’s growing institutional adoption and decoupling from traditional markets suggest a shift toward greater legitimacy. Analysts emphasize that the current rally reflects a balance between speculative demand and macroeconomic factors, with key price levels serving as pivotal markers for future movement [1].

Source: [1] [These 3 Altcoins Have Surged 40%, Signaling the Start of ...](https://pintu.co.id/en/news/185201-these-3-altcoins-have-surged-40-signaling-the-start-of-altseason) [2] [FX Leaders](https://www.facebook.com/FxMarketLeaders/)