Bitcoin News Today: Bitcoin Surges Past $114,000 as Altcoins Outperform With Double-Digit Gains

Bitcoin (BTC) surged above $114,000 in recent trading, with a 0.4% gain over the past 24 hours, reaching $114,569. The move came amid a brief dip following weaker-than-expected ISM Services PMI data but saw a recovery despite ongoing ETF outflows totaling $1.3 billion in the previous four days. Bitcoin's ability to hold above the $114,000 level is being closely watched as a key technical indicator for further gains [1][5]. The asset remains within a tight trading range amid mixed market sentiment, with cloud mining operators reporting renewed investor interest due to Bitcoin’s price movement [2][4].

Ethereum (ETH) posted a 1.7% increase in the past 24 hours, settling at $3,691.29. The token has gained 1.4% in the last day alone and has added to its 40% rise over the past 30 days. Ethereum’s performance is being driven by growing institutional interest and positive regulatory developments, as Ethereum ETFs saw inflows of $73 million in the past month. In contrast, Bitcoin ETFs experienced outflows of $196 million during the same period [5][6]. With a market cap of $445.5 billion and a 24-hour trading volume of $20.56 billion, Ethereum remains a leading smart contract platform.

Solana (SOL) also saw a strong 3.2% increase in the past 24 hours, reaching $169.06. The token continues to outperform the broader market with a 1.5% gain, backed by a $91.15 billion market cap and a 24-hour trading volume of $3.79 billion. Solana’s recent gains align with optimistic forecasts based on increased demand and a supply shock [5][7]. XRP (XRP) rose 1.9% to $3.01 within 24 hours, with a market cap of $178.18 billion and a trading volume of $3.71 billion, reflecting strong market sentiment [5]. Despite its gains, XRP has yet to break above key resistance levels.

In addition to major cryptocurrencies, several smaller-cap tokens recorded significant gains. MemeFi (MEMEFI) surged by 268.5% to $0.005105, while GXChain (GXC) gained 161.6%, trading at $2.33. Omni Network (OMNI) rose 28.5% to $4.91, and EverValue Coin (EVA) climbed 26.8% to $8.05. Other notable performers included Gods Unchained (GODS) at 25.9%, OpenServ (SERV) at 25.3%, and GIZA (GIZA) at 22.1% [1]. These gains indicate a broader distribution of capital across altcoins, as Bitcoin’s market dominance has dipped below 60% [8].

The broader cryptocurrency market is showing signs of shifting investor sentiment toward alternative blockchains and layer-2 solutions. While Bitcoin remains a focal point, the momentum in Ethereum, Solana, and other altcoins highlights a diversification of interest in the sector. Analysts caution that while short-term gains are encouraging, long-term trends will depend on macroeconomic data and regulatory developments [6].

Sources:

[1] https://coinmarketcap.com/community/articles/689455df4efbf54e608dc918/

[2] https://stocktwits.com/news-articles/markets/cryptocurrency/bitcoin-drops-below-114-k-with-xrp-solana-dogecoin-leading-the-slide/chr1wDcRdPy

[4] https://coincentral.com/bitcoin-surge-boosts-cloud-mining-profits-za-miner-reports-strong-btc-contract-earnings/

[5] https://coincentral.com/best-crypto-presales-to-buy-4-viral-projects-that-could-explode-in-august/

[6] https://www.mitrade.com/insights/news/live-news/article-3-1016574-20250806

[7] https://www.mitrade.com/insights/news/live-news/article-3-1016634-20250806

[8] https://www.ainvest.com/news/bitcoin-news-today-litecoin-surges-8-5-bitcoin-slides-116-000-2508/