Crypto Market, Led by Bitcoin, Holds Steady Amid Institutional Moves and Altcoin ETF Optimism

The crypto market, led by Bitcoin, remains mostly steady with little price movement. Investor interest is strong, fuelled by institutional activity and growing optimism around spot ETF approvals for altcoins. Despite positive sentiment, most major cryptocurrencies are trading sideways within tight ranges.

Bitcoin Holds Above Key Support While Demand Slows

Bitcoin broke above a declining trend channel earlier on Wednesday, briefly rising above $110,000. The move sparked optimism across the market, though the momentum didn’t last long, as it pulled back to $109,000. This appears to be a typical retest—a pullback often seen before a possible continuation upward.

Despite the excitement from large purchases, data shows that underlying demand is lagging . Market intelligence firm CryptoQuant reported that while Bitcoin exchange-traded funds (ETFs) and Strategy together acquired approximately 748,000 BTC, net demand has declined by over 850,000 BTC. This suggests that although institutional buying is strong, organic market interest has yet to match it.

Dan, a market analyst on CryptoQuant, observed a shift in investor behavior since April. According to his insights, U.S.-based institutional selling has slowed, and current buying levels are being maintained. He noted that Bitcoin is currently undergoing a period of cooling following earlier gains. Although short-term fluctuations remain possible, the overall trend is viewed as upward, with a positive outlook for the remainder of 2025.

While Bitcoin is consolidating after recent movements, crypto trader Mikey suggested it’s a good opportunity to hedge short positions ahead of the holiday weekend.

Ethereum and Altcoins Struggle for Direction Despite Whale Activity

Ethereum has followed a similar path, recently breaking above the $2,500 resistance and reaching $2,600 before pulling back. This price action mirrors Bitcoin’s behavior and appears to be a typical retest phase during market consolidation.

Large-scale holders have continued increasing their Ethereum exposure. The amount of ETH staked rose by 3% in June , bringing the total to 36 million ETH. Additionally, on-chain data reveals that whales are removing over 200,000 ETH from centralized exchanges each week, signaling long-term holding strategies.

Despite this accumulation, network activity has remained flat, with daily active addresses hovering between 300,000 and 400,000. This lack of growth in user engagement may be contributing to Ethereum’s muted price reaction, even as investor positioning appears confident.

XRP is also moving within a narrow range, trading between $2.00 and $2.30 without clear direction. Earlier in the week, Ripple’s application for a U.S. banking license provided a short-lived 4% boost to XRP’s value. However, the price has since retracted by about 2%.

Other coins, such as Solana, BNB, and Dogecoin, are also down by 3%, 2%, and 4%, respectively, at the time of writing.

Altcoins May Be Gearing Up for a Comeback

Despite slow price action, several signs point to a possible short-term boost for altcoins . Analysts and ETF insiders are watching key shifts that could reignite momentum.

Could this be the spark altcoin investors have been waiting for? Here’s what’s lighting up the radar:

• Bitcoin dominance may dip soon, opening a window for altcoin movement (Ted Pillows)
• Analysts expect a short-term altcoin rally, not a full altseason, but relief is likely. 
• Van de Poppe sees ideal conditions forming as altcoins market cap builds toward a breakout to a new all-time high.
• Bloomberg analysts see 95% chance of spot ETF approval for Solana, XRP, and Litecoin—potentially boosting liquidity and market exposure.

Though the broader crypto market remains mostly stagnant, select mid- and low-cap tokens have posted notable gains. According to data from CoinGecko, Pudgy Penguins (PENGU) rose 3%, while Strike (STRIKE) climbed 35%. Bedrock (BR), a project launched in March, advanced 60%.