Altcoins Surge as Bitcoin Remains Steady Around $120,000
Bitcoin (BTC) is trading around $120,000, showing stability after a bounce near $117,000. Demand at this level has led to 73,000 BTC being accumulated by dip buyers.
Key highlights include:
- The CD20 Index rose 2% and the CD80 Index increased by 4%, indicating altcoin strength.
- Metaplanet purchased 780 BTC at an average price over $118,000, increasing its total holdings to 17,132 BTC.
- SharpLink Gaming acquired 77,210 ETH, valued at $295 million, surpassing ether's recent issuance.
- Aptos surpassed Solana in total real-world assets, becoming the third-largest chain.
- Traders anticipate a White House digital asset report on July 30 as a potential market catalyst.
On the macro front, U.S.-China tariff discussions are ongoing, with cautious sentiment affecting risk-sensitive currencies.
What to Watch
- July 28: Starknet launches v0.14.0 on mainnet.
- July 31: Webinar on bitcoin as a global reserve currency.
- Aug. 1: Helium Network's halving event occurs.
- Aug. 1: Hong Kong's Stablecoins Ordinance takes effect.
- Aug. 1: Launch of the first fully bitcoin-backed stablecoin by New Bretton Woods Labs.
Market Movements
- BTC at $118,871.47 (+1.55%)
- ETH at $3,891.41 (+5.6%)
- CoinDesk 20 index at 4,113.88 (+4.58%)
Bitcoin Stats
- BTC Dominance: 60.79%
- Total Fees: 4.12 BTC ($488,258)
- CME Futures Open Interest: 147,525 BTC
Investors should monitor upcoming economic data releases and corporate earnings that may impact market dynamics.