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Crypto market update: Bitcoin moves sideways, ETH down, altcoins in red
At last check, Bitcoin was trading around $118,071.31, down 0.41 per cent, with a 24-hour trading volume of $71.07 billion. BTC has fluctuated in the range of $117,247.97–$119,290.24 in the last 24 hours, according to data from CoinMarketCap.
Bitcoin, Edul Patel, Co-founder and CEO of Mudrex, said, remains range-bound as investors wait for a catalyst to trigger the next leg of the rally. 'With major events like the FOMC meeting, US Treasury's borrowing plans, and Trump's tariff proposals ahead of us, July's last days could shape market sentiment for the rest of the year,' said Patel.
For Bitcoin, Riya Sehgal, research analyst at Delta Exchange, noted that a strong support is placed near $117,000, while resistance is at $118,400. 'For today's expiry, options data reflects a neutral stance, as seen in the balanced put/call ratio of 0.88. However, ETF flows reveal a more nuanced divergence in sentiment. On July 23rd, Bitcoin ETFs saw $85.8 million in outflows, pointing to cautious positioning or short-term profit booking,' said Sehgal.
Ethereum sees strong inflows despite short-term decline
In contrast, Ethereum (ETH) recorded $332.2 million in inflows, coinciding with a rebound from $3,520 to $3,600 after a pullback from $3,850. At last check, ETH was trading around $3,566.34, lower by 3.52 per cent, with a 24-hour trading volume of $17.47 billion.
Sehgal, however, continues to remain optimistic on ETH, citing the ETH ETF flows. "This disparity in the ETF flows suggests growing institutional interest in Ethereum's long-term outlook, potentially driven by optimism around its evolving ecosystem and upcoming technical upgrades," said Sehgal.
Echoing similar views, Patel said that these consistent inflows could help ETH break the $3,800 resistance and touch $4,000 soon.
Altcoins trade lower
The altcoins were under pressures too. JasmyCoin (JASMY), Pump.fun (PUMP), Virtuals Protocol (VIRTUAL), dogwifhat (WIF), Flare (FLR), Aptos (APT), Celestia (TIA), FLOKI (FLOKI), Worldcoin (WLD), Immutable (IMX), and Gala (GALA) were among the losers, falling up to 19 per cent on CoinMarketCap.
Among other popular altcoins, Ripple (XRP) was trading lower by 12.17 per cent, Dogecoin (DOGE) by 12.41 per cent, Cardano (ADA) by 11 per cent, Solana (SOL) by 9 per cent, Sui (SUI) by 8.7 per cent, Binance Coin (BNB) by 5 per cent, and Hyperliquid (HYP) by 4.81 per cent.
That said, analysts believe the market appears to be positioning for a decisive move, with volatility data indicating that risk may be underpriced at current levels.
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