Bitcoin News Today: Crypto Market Surges 1.29% Led by Altcoins Ethereum Up 4%

The cryptocurrency market has started the week on a positive note, with a market capitalization of $3.92 trillion, up 1.29%. Bitcoin (BTC) has seen a relatively stable price, holding around $118,000. However, the rally is being driven by altcoins such as Ethereum (ETH), Solana (SOL), Dogecoin (DOGE), and others. BTC traded flat over the weekend and started the week with a drop to $116,710. However, it recovered from this level and moved to $118,365, registering a marginal increase over the past 24 hours.

ETH has led the charge in recent sessions, with the world’s second-largest cryptocurrency up nearly 4% in the past 24 hours, trading around $3,785. XRP is up over 3%, trading around $3.51, as it eyes a new all-time high. Meanwhile, Solana (SOL) is up over 6%, trading around $188, with buyers looking for a push towards $200. Dogecoin (DOGE) is up nearly 10%, trading around $0.271, while ADA is up over 5%. Stellar (XLM), Hedera (HBAR), Chainlink (LINK), Litecoin (LTC), Toncoin (TON), and Polkadot (DOT) also registered notable increases.

United States Congresswoman Marjorie Taylor Greene has criticized the GENIUS Act, stating that it creates a backdoor for the government to create a central bank digital currency (CBDC) as privately issued crypto tokens. The lawmaker added that regulated stablecoins could feature surveillance capabilities, making them indistinguishable from CBDCs. Greene warned that such tokens could be weaponized against individuals by an authoritarian government, expressing a deep distrust of government control over monetary systems. She also added that the legislation allowed the government to potentially control citizens’ ability to buy and sell using digital currency systems.

Indian crypto exchange CoinDCX has become the latest exchange to be hit by a security breach. The exchange confirmed the hack, with attackers draining $44 million from the platform. However, the platform assured users that customer funds remained safe and that the hack was limited to an internal operational account. The company released a First Incident Report over the weekend, adding that it was absorbing the total exposure by using its treasury reserves. The incident highlights growing security threats in the crypto ecosystem.

Cardano founder Charles Hoskinson has requested further transparency on the initial audit of Input Output Global’s (IOG) ADA holdings. However, he anticipated that the report would be set for public release in a month. Hoskinson stated in a post on X, “I just received the first copy of the audit report. I requested a lot more detail and context in several areas, but it’s shaping up quickly. I believe we are on schedule for a mid-August release, assuming the work continues at this pace and there are no delays.” Hoskinson had announced that he would release an audit report of IOG’s treasury holdings after reports that $600 million in ADA had been misappropriated. Hoskinson stated he was deeply hurt by the community’s mistrust.

Bitcoin (BTC) has reclaimed the $119,000 level after making a sluggish start to the week, registering only marginal gains earlier in the day. The flagship cryptocurrency is up over 1%, trading around $119,500, with buyers looking to build momentum and reclaim $120,000. Price action was muted over the weekend, registering a marginal decline on Saturday and dropping 0.48% on Sunday to settle at $117,240, but not before falling to a low of $116,208. Traders are waiting for the next catalyst to drive BTC’s price higher.

The flagship cryptocurrency entered into a consolidation phase after Monday’s rally to a new all-time high, trading in a narrow range between $117,000 and $120,000. BTC maintained its position above $117,000-$118,000, indicating that bulls have not ceded ground to sellers. However, analysts believe BTC is gearing up for a big move, which could see it test the $123,000 level and return to price discovery. Trader Marcus Corvinus stated, “BTC is getting ready for a big move. Bitcoin is moving inside a triangle pattern and staying above strong support around $116,000 to $117,000. Right now, it's going sideways but not for long.” A breakout above $123,000 could take BTC past $125,000. However, if it slips below $117,000-$118,000, then markets can expect a drop to $110,000 or lower.

Analyst Rekt Capital made a similar prediction, stating that capital will continue to flow to altcoins as long as BTC remains in its consolidation range. “Bitcoin remains in the Range and the consolidation continues, facilitating further money flow into Altcoins. Break this Lower High (black) within the Range, however, and Bitcoin will challenge the Range High for another breakout attempt.” BTC bulls will look to maintain control and build momentum for a push beyond $120,000. However, if consolidation continues, we could see altcoins push higher.

Ethereum’s (ETH) stunning rally continued over the weekend as it registered a 1.31% increase on Saturday and surged past $3,700 on Sunday, rising 4.53% to $3,757. Buyers have retained control during the ongoing session, as ETH looks to push above $3,800. The world’s second-largest cryptocurrency has traded in positive territory since last Sunday, and is up over 150% since its lowest level this year. According to data from SoSoValue, ETH’s rally has coincided with surging ETF inflows during the week, adding over $2 billion, the largest weekly gains on record. The inflows were substantially higher than the previous week’s $907 million and mark the 10th consecutive week of positive inflows. The passage of the GENIUS Act also helped ETH’s rally, along with the ongoing ETH accumulation by SharpLink. The company has become one of the largest corporate holders of ETH, mirroring Strategy’s success in accumulating BTC. Open interest also surged to a record high of $51 billion over the weekend, indicating rising demand. On-chain data shows that ETH’s rally is continuing to gain momentum, and the token's rally could continue. Analysts have highlighted $4,000 as the next level to watch. However, the token is overbought and could drop before resuming its uptrend.

Solana (SOL) has surged past $190 during the ongoing session, setting its sights on $200, a level not seen since February 2025. Analysts pointed out on Friday that SOL was nearing its last major resistance at $180. With the price crossing this level during the ongoing session, a move past $200 could be on the cards if buyers can retain momentum. However, with the RSI in the overbought zone, the price could register a short-term drop, possibly dropping below $180.

Dogecoin (DOGE) has lost momentum during the ongoing session, with the price down over 2%. However, its rally has seen the popular memecoin surge past key levels. DOGE started the previous weekend in positive territory, reaching an intraday high of $0.214 before settling at $0.201, ultimately registering an increase of 2.55%. However, it lost momentum on Saturday, dropping 1.89% to $0.197. DOGE registered a marginal rise on Sunday but was back in the red on Monday, falling 0.61% to $0.196 despite reaching an intraday high of $0.211. The price recovered on Tuesday, rising 1.32% and settling at $0.199. Bullish sentiment intensified on Wednesday as DOGE rose nearly 7% to $0.212.

Celestia (TIA) surged past $2 over the weekend, as it continues to push towards $2.50. TIA started the previous weekend in positive territory, rising over 5% to reach an intraday high of $2.06 before settling at $1.93. It lost momentum on Saturday, dropping 4.34% to $1.85, but recovered on Sunday, rising 2.12% and settling at $1.89. TIA raced to an intraday high of nearly 2% on Monday. However, it lost momentum after reaching this level and settled at $1.85, ultimately registering a drop of almost 2%. The price recovered on Tuesday, rising 6.53% and settling at $1.97. Buyers retained control on Wednesday as TIA rose nearly 1% and settled at $1.99.

Jupiter (JUP) registered a marginal increase on Friday (July 11), rising 0.56% to $0.487. However, it lost momentum on Saturday, dropping over 3% to $0.472. The price recovered on Sunday, rising nearly 7% to end the weekend at $0.504. JUP raced to an intraday high of $0.531 on Monday but lost momentum after reaching this level, ultimately settling at $0.498. The price plunged to an intraday low of $0.474 on Tuesday before recovering to register a 2.95% increase and settle at $0.513. Buyers retained control on Wednesday as JUP rose 5.51% and settled at $0.541.