Cryptocurrency Market Update (July 25): Bitcoin Plummets Below $116k, Altcoins Mirror Similar Price Decline
The cryptocurrency market experienced a decline on July 29, 2025, with Bitcoin and Ethereum leading the way.
Bitcoin, the largest cryptocurrency by market cap, dropped around 1.34–1.44% to below $118,000. This downturn was primarily caused by institutional selling pressures and significant whale activity—large holders selling off Bitcoin—which triggered notable short-term declines in price [1][3]. Ethereum, the second-largest cryptocurrency, fell approximately 0.93%, snapping a short winning streak but remaining well above yearly lows [2].
The decline affected not just Bitcoin and Ethereum but also altcoins like XRP and Dogecoin, which experienced sharp losses over the prior week, contributing to an overall dip in market sentiment [4].
Other notable changes include BNB, the native token of the Binance Smart Chain, which is down a modest 1.81% from an intraday high of $785. BNB's trading activity has dropped by 18% today, and its market valuation has dipped by 1.66% [5].
In terms of market capitalization, Bitcoin's market cap now stands at $2.3 trillion, a notable but not drastic contraction from its recorded high of $4 trillion during trading hours last Friday [6]. Ethereum's total market cap is $438 billion, a decrease from its previous day's value [7].
The decline in the market was not marked by panic selling but rather by a cautious pause with buyers still willing to hold positions, as supported by technical analysis indicating support levels near $115,000 for Bitcoin [5].
Trading activity was dampened by seasonal low volume on Wall Street [5]. The Altcoin Season Index stands at 32, suggesting that investors are rotating out of altcoins and back into Bitcoin dominance [8].
Regarding the losses, Bitcoin's price drop of approximately 1.34–1.44% equates to a total loss of around $3.16 billion [6]. Ethereum's 0.93% fall translates to a loss of about $427.30 million, with $427.30 million coming from long positions and $103.62 million from shorts [9].
In the 24-hour period leading up to July 29, about 137,709 traders have been liquidated from their trades [10]. The majority of the bet was on BTCUSD [11].
As of the current market situation, Bitcoin is priced at $115,838, down 2% from the previous day [11]. Ethereum is currently priced at $3,640, down 2% from its previous day's value [7].
The overall market valuation has dropped by 3.16% to $3.78 trillion [6]. The exact figures for the price or market cap of Measurable Data Token (MDT), Maple Finance (SYRUP), Hyperlane (HYPER), or Peaq (PEAQ) were not provided in the sources.
References:
- CNBC
- CoinMarketCap
- Bloomberg
- Decrypt
- TradingView
- MarketWatch
- CoinGecko
- CoinMetrics
- The Block
- Glassnode
- Binance
Bitcoin and Ethereum, the two dominant cryptocurrencies in the market, faced significant losses on July 29, 2025, with investors also experiencing losses in altcoins like XRP and Dogecoin as a result of the overall downturn. The decline in the market was not marked by panic selling but rather by a cautious pause, with institutional selling pressures and significant whale activity being the primary cause.
Bitcoin's market cap, now standing at $2.3 trillion, saw a notable contraction from its recorded high of $4 trillion during trading hours last Friday, while Ethereum's total market cap dropped to $438 billion. The Altcoin Season Index stands at 32, indicating that investors are rotating out of altcoins and back into Bitcoin dominance.
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