 briefly recaptured $120,000 on Jul. 23 after building a solid downward line with institutional buying. A number of foreign media reported that Bitcoin succeeded in defending its price without a significant drop by establishing a solid defense line with the buying of exchange-traded funds(ETFs) and companies in the United States. Major altcoins stopped rising and slowed down due to Bitcoin\'s price defense. On the other hand, the market produced different markets, with \"light altcoins\" with low market capitalization succeeding in soaring. Bitcoin touc', 'https://img.blockstreet.co.kr/photo/2025/05/14/20250514000011_0640.jpg', 'https%3A%2F%2Fwww.blockstreet.co.kr%2Fnews%2Fview%3Fud%3D2025072316331147607'));){kind=link}
BTC Touchs $120K For A Brief Time On Institutional Buying
Major Altcoins Fall...'Light' Altcoin, Circular Pumping
Expert "BTC Difficult to Reach $200K Due to Short Volume"
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A number of foreign media reported that Bitcoin succeeded in defending its price without a significant drop by establishing a solid defense line with the buying of exchange-traded funds(ETFs) and companies in the United States.
Major altcoins stopped rising and slowed down due to Bitcoin's price defense. On the other hand, the market produced different markets, with "light altcoins" with low market capitalization succeeding in soaring.
Bitcoin touched $120,000 and slowed to $118,250. Major altcoins such as Ethereum(ETH), XRP, and Solana(SOL) fell about 1-2%.
◇Bitcoin = Bitcoin price is $118,525 at 4:30 p.m. on Jul. 23, 2025. The Bitcoin share(dominance) was 60.98%.
The long(up) and short(down) betting ratios in the Bitcoin futures market stood at 43.70% and 56.30%, according to the on-chain analytics platform Sigbtc.
Experts said it is difficult for Bitcoin to surpass $200,000 this year based on insufficient buying.
James Check, a senior researcher at Glassnode, said, "The volume of trading on the exchange is extremely short," and predicted, "It is extremely difficult to reach $200,000 within six months."
◇Upward Coin = The cryptocurrency that recorded the largest increase from the previous trading day at 4:30 p.m. on Jul. 23 was ARDR, up about 33% on the day alone.
ARDR is an open-source multi-chain BaaS (Blockchain as a Service) platform created by the Zelurida Foundation by improving the existing NXT and is also called NXT 2.0.
The monetary unit is an Arthur token and is the main chain token of the Arthur network, used for governance and transaction fee payment for the creation of new blocks and network consensus.
◇Fear Greed Index = Digital asset fear-greed index provided by Alternative has entered the 'greed' phase with 74 points. The greed phase is a phase where price volatility and trading volume increase, and the price increases. The possibility of forming a short-term high is high, so caution should be taken in selling.
The cryptocurrency relative strength index(RSI) provided by Sigbtc was 50.6, which was in a 'neutral' state. RSI sets the relative strength between the upward and downward pressure of a particular asset price and is an indicator of a measure of over-purchasing and over-selling of a particular asset.
권승원 기자 ksw@blockstreet.co.kr