Bitcoin Steady, Ether Nears $3,800; Future Uncertain

Bitcoin's price remained stable around $118,500, while Ether and other significant altcoins continued their upward trend, hinting at the possibility of an upcoming altcoin season. As reported by The Block's crypto price page, Bitcoin experienced a slight increase of 0.35%, reaching $118,478 by 11:10 p.m. on Sunday. Meanwhile, Ether surged by 3.96%, reaching $3,761. Min Jung, a Research Analyst at Presto Research, noted, "Bitcoin continues to hover near its all-time highs, supported by sustained institutional demand, particularly from crypto treasury firms. Given the nature of these buyers, it seems unlikely that they will aggressively sell in the near term. However, we are beginning to see older wallets taking profits as the price surpasses previous highs, which may lead to short-term volatility." Jung explained that Ether’s price surge is also fueled by institutional interest, as more public companies incorporate ETH into their treasuries. Recently, Spot ETH exchange-traded funds reported record net inflows, exceeding those of BTC ETFs on the same days. "The crucial question is whether this momentum can be maintained after a strong run last week," Jung added. The market is showing nascent signs of an altcoin season, highlighted by a decrease in Bitcoin dominance, which currently stands at 61%, down 6.37% in the past month according to TradingView data. Other altcoins, including XRP, BNB, and Solana, have also seen modest gains of over 2%, with XRP recently achieving a new all-time high due to advancements in U.S. crypto legislation. Jung cautioned, "While we are observing some signals, the current market rally is primarily driven by institutional investment, leaving it uncertain whether this strength will move beyond major 'Dino coins' to the wider altcoin market." Nick Ruck, LVRG Research Director, agreed, attributing the ongoing bull cycle to the rising trend of corporate treasuries investing in Ether and other major altcoins, alongside traditional financial firms integrating DeFi via RWA tokens and stablecoins. "We're hopeful this trend will continue to expand as the crypto industry gains more regulatory support globally," Ruck stated. Traders are keeping an eye on essential U.S. macroeconomic data this week, including initial jobless claims and the purchasing managers' index (PMI) for the services and manufacturing sectors, as these indicators reflect the country's economic health and influence the Federal Reserve's interest rate decisions. Market analysts suggest Bitcoin and the larger crypto market could see further price increases if the Fed signals a possible rate cut. The CME Group's FedWatch Tool indicates a 95.3% chance that the U.S. central bank will maintain the current interest rate of 4.25-50% in its upcoming meeting on July 30. Disclaimer: The Block is an independent media outlet delivering news, research, and data. As of November 2023, Foresight Ventures is a primary investor in The Block. Foresight Ventures invests in other companies within the crypto space. Crypto exchange Bitget acts as an anchor LP for Foresight Ventures. The Block operates independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures. © 2025 The Block. All Rights Reserved. This article is for informational purposes only and is not intended as legal, tax, investment, financial, or other advice.