Bitcoin News Today: Bitcoin Trapped in $119,360 Range Amid 11.4% Forecast, Ethereum Surges 4% on Blockchain Demand

Bitcoin’s price action has entered a period of consolidation near $119,360, with analysts forecasting a potential 11.4% shift by July 2025 [1]. The cryptocurrency’s muted movement has left traders and investors divided, as the broader market grapples with mixed signals and fragmented momentum. While Bitcoin remains trapped in a narrow range between $119,000 and $120,000, altcoins exhibit divergent trajectories, with some showing fleeting resilience amid broader uncertainty [7].

Ethereum (ETH) has emerged as a rare bright spot, surging nearly 4% to $3,800, driven by growing demand for blockchain infrastructure [2]. However, this upward movement contrasts sharply with the struggles of most alternative cryptocurrencies. Tokens like Notcoin and Sudeng, which initially showed modest gains, now face headwinds as risk appetite wanes and liquidity constraints hinder sustained progress [3]. Pi Coin, meanwhile, has carved out an unusual niche, maintaining stability despite the broader altcoin slump—a resilience that has attracted speculative attention from traders [4].

Technical indicators offer limited clarity. Filecoin (FIL) has posted three consecutive bullish weekly candles, suggesting a potential momentum reversal [5]. The Relative Strength Index (RSI) for LINK/UST stands at 59, indicating neutral-to-bullish positioning, though overbought conditions remain distant [6]. These signals highlight a market in flux, where isolated gains stand out against a backdrop of caution.

Market participants are split on Bitcoin’s near-term direction. Bitget’s predictive models suggest the price could reach $119,360 by month-end, a forecast tied to macroeconomic factors and renewed institutional interest [1]. Conversely, others argue that Bitcoin’s consolidation reflects a lack of clear catalysts, with speculative capital increasingly flowing to altcoins rather than the dominant asset. This fragmentation underscores the market’s struggle to align on a unified narrative, with individual tokens reacting to distinct drivers [3].

The broader cryptocurrency landscape remains volatile. Altcoins like Notcoin and Sudeng face an uphill battle against waning liquidity and institutional disengagement, limiting their ability to sustain momentum [3]. Pi Coin’s stability, while notable, remains untested by major market shocks, raising questions about its long-term viability [4]. Analysts attribute the current environment to macroeconomic uncertainty, including U.S. trade developments and Federal Reserve policy expectations. While these factors have driven equities to record highs, they have had a muted impact on Bitcoin, which continues to trade in a tight range [8].

As the market digests these dynamics, the focus remains on Bitcoin’s ability to break out of its consolidation phase. For now, altcoins are left navigating a landscape where momentum is fleeting, and large-scale adoption remains elusive. The coming weeks will test whether Bitcoin can reclaim its role as the sector’s bellwether or if altcoins will develop new narratives to attract capital [3].

Sources:

[1] Bitget. "Bitcoin (BTC) Price Prediction." https://www.bitget.com/price/bitcoin/price-prediction

[2] Binance Square. "adil_khannnnn0's Profile." https://www.binance.com/square/profile/square-creator-9c11e223eb104

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

[4] TechJuice. "Pi Coin Seems To Be Unaffected By the Recent Altcoin..." https://www.techjuice.pk/pi-coin-seems-to-be-unaffected-by-the-recent-altcoin-surge-bitcoin-lurk/

[5] TradingView. "FILUSDT_52A499.USD Trade Ideas - Filecoin." https://www.tradingview.com/symbols/FILUSDT_52A499.USD/ideas/page-2/?asset=base&exchange=BISWAP

[6] TradingView. "LINK/UST Trade Ideas — BITFINEX:LINKUST." https://www.tradingview.com/symbols/LINKUST/ideas//page-14/

[7] Binance. "Deepak Raw's Profile." https://www.binance.com/en-NZ/square/profile/Virtualassetdaily

[8] TS2. "Record Highs, Trade Truces & Earnings Shockwaves." https://ts2.tech/en/record-highs-trade-truces-earnings-shockwaves-wall-streets-wild-48-hours-july-22-23-2025/