July 21, 2025 — Bitcoin (BTC), the world’s largest cryptocurrency by market capitalization, remained stable around the $119,000 mark, buoyed by sustained institutional inflows, strong technical support, and a broader wave of optimism in the crypto space. While Bitcoin has largely moved sideways in recent sessions, altcoins like Dogecoin (DOGE) and Solana (SOL) posted impressive gains, rising up to 7% in 24 hours, capturing the attention of traders and analysts alike.
According to data from Coin Market Cap and Glassnode, BTC saw over $2.4 billion in net inflows last week from institutional accounts—primarily through ETF vehicles and OTC desk activity. This marks the third consecutive week of net-positive investment activity and reflects confidence in Bitcoin’s long-term potential amid a volatile macroeconomic backdrop.
🔹 Dogecoin & Solana Lead the Altcoin Comeback
Dogecoin, the meme-inspired cryptocurrency often associated with Elon Musk, jumped more than 6.8% to trade near $0.194, driven by strong social sentiment and increased on-chain activity. Analysts at Santiment noted a spike in whale transactions over $100K, suggesting that larger players are accumulating DOGE in anticipation of a potential breakout.
Solana, meanwhile, surged by 7.1%, breaking past the $158 resistance level. The rally was supported by growing adoption in the DeFi and NFT ecosystems, particularly after reports that several top-tier projects are planning to migrate from Ethereum Layer-2 solutions to the Solana network due to faster transaction speeds and lower fees.
🔹 Retail & Institutional Sentiment Align
A major driver behind this renewed crypto enthusiasm is the pending legislation in U.S. Congress, including bipartisan bills aiming to regulate digital assets under a more unified and innovation-friendly framework. Furthermore, the recently enacted GENIUS Act, which promotes transparency and investor protection in crypto markets, is also credited with stabilizing sentiment.
Adding to the momentum is the ETF tailwind. Multiple sources from The Economic Times and Coin Reporter confirm that applications for Ethereum and Solana ETFs have reached final review stages with the U.S. Securities and Exchange Commission (SEC), with approvals expected as early as August. These ETFs could unlock significant capital from traditional markets into crypto.
🔹 Market Reactions and Forecasts
The broader crypto market capitalization rose above $3.4 trillion, with over $95 billion in 24-hour trading volume, indicating a healthy increase in market participation. Analysts at JP Morgan Digital forecast that if Bitcoin can hold above the $120,000 threshold by month-end, it could trigger a technical rally toward $135,000 by mid-August.
However, not all experts are convinced. Some caution that the current rally might face hurdles if macroeconomic indicators—such as U.S. inflation data and Fed policy updates—fail to align with investor expectations. Also, profit-taking behavior around the $120K level has been observed on-chain, which could limit short-term upside.
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