Bitcoin hovers at $118,300 as altcoins surge, with analysts debating whether BTC has topped or will push higher.
By Parth Dubey
Editor Julia Sakovich
Updated
2 mins read
Bitcoin BTC $119 366 24h volatility: 2.1% Market cap: $2.38 T Vol. 24h: $49.42 B is holding steady near $118,300 with no notable gains or losses in the past 24 hours, following its recent all-time high of $123,000. Market analysts remain divided on whether Bitcoin has already peaked or if a new surge could be on the horizon.
A recent report by Glassnode highlighted that while historical trends suggest potential room for further upside, overheating signals are beginning to flash.
Notably, the Realized Profit to Loss Ratio recently spiked to 39.8, significantly above the +2 standard deviation threshold, indicating intense profit-taking among investors. Although this figure has since declined to 7.3, it remains consistent with late-stage bull market behavior.
Bitcoin realized profit/loss ratio | Source: Glassnode
Glassnode noted that while a definitive top may not have formed, such phases generally come in multiple waves. It suggested traders keep an eye on the $130,000 level as the next major resistance for BTC.
While Bitcoin consolidates, altcoins are capturing investor attention. Ethereum ETH $3 361 24h volatility: 9.3% Market cap: $405.67 B Vol. 24h: $47.57 B has surged around 7% in the past 24 hours. The largest altcoin is trading around $3,350, breaking out of a consolidation phase as optimism grows regarding the advancement of crypto-related bills in the US.
Solana SOL $173.4 24h volatility: 6.8% Market cap: $92.97 B Vol. 24h: $16.31 B is also up by 5%, currently trading around $172 with a market cap of $92.5 billion. The rally could be fueled by Galaxy Digital’s $55 million SOL purchase within a two-hour window.
US spot Ether ETFs reported a record daily net inflow of $717 million on July 16, bringing total ETH holdings across these ETFs to over 5 million ETH. The ETFs bought nearly 107 times the daily ETH issuance, reflecting heightened institutional interest.
Investors are now looking for the best crypto to explode as Peter Brandt declared “altcoin season” on X. He shared an altcoin market cap chart, indicating a potential cup and handle pattern and high chances of altcoin bulls takeover.
It's altcoin season pic.twitter.com/BShKyS6PDO
— Peter Brandt (@PeterLBrandt) July 16, 2025
Analyst Cas Abbe echoed this optimism, noting that altcoin market cap has broken out of its consolidation range and that upcoming pro-crypto legislation could draw TradFi’s attention. Abbe predicted that the coming months could be “life-changing” for crypto investors.
Altcoin MCap has broken out of its consolidation range.
This was the best time to accumulate, but still it's not too late.
BTC has recently hit a new ATH, and pro-crypto bills will soon pass.
All this will bring crypto into TradFi attention, and they'll bid in a big way.
— Cas Abbé (@cas_abbe) July 16, 2025
At the time of writing, the crypto market’s total capitalization stands at $3.8 trillion, up by over 61% in the past month.
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
A crypto journalist with over 5 years of experience in the industry, Parth has worked with major media outlets in the crypto and finance world, gathering experience and expertise in the space after surviving bear and bull markets over the years. Parth is also an author of 4 self-published books.
