Bitcoin pulls back, leaving a mixed sentiment in Crypto Markets

[Redator]

Cryptocurrencies are coming off a spectacular run, and despite taking time, Ethereum did grab some of the market share that Bitcoin had amassed. The most popular cryptocurrencies had taken a Lance Armstrong, all-by-himself run throughout the beginning of 2025.

Consistent ETF inflows, leading to strong Institutional demand, created a stream of support to push up prices for BTC. Then, progressively, the same thing spread to ETH, which had been lagging considerably—touching lows at $1,363 in April for those who were not watching.

There are some ongoing signs of profit taking, however, with the Whales (between 1,000 and 10,000 BTC) securing some profits at the all-time highs. Some funds and exchanges are doing the same, but not in a panic fashion.

Profit taking is standard in such a market, particularly with cryptos, notably altcoins, attaining unseen highs in this cycle.

For those who did not know, July 30 will mark the six months of the 180-day executive order to make a report on Cryptocurrencies from the President’s Working Group on Digital Assets. This is generally good news for the adoption of Crypto but impairs its independence. The Blockchain will, anyway, keep its integrity.

Let’s look at Bitcoin charts amid this retracement and other major altcoins.

Read More: Dollar regains footing as long-term Reversal carves out a Bottom

Daily Crypto Market overview

Cryptocurrencies Performance Board – Source: Finviz

Altcoins are recovering from their past few harsh sessions – Cardano is a surprise laggard.

Bitcoin 8H Chart

Bitcoin 8H Chart, July 24 2025 – Source: TradingView

Bitcoin has retraced back towards the $115,000 Pivot Zone mentioned in our past analysis and despite being just above 5% from its $123,200, sentiment is still mostly positive.

Retracements are healthy in any trends and price action still does not show signs of a longer-run top – The situation stays the same as long as BTC holds above the $110,000 to $112,000 previous ATH support.

Consolidating around these levels would be still be more bullish than bearish, however watch the $115,300 8H-MA 50 that would need to hold for bulls to keep their hands on the ongoing short-term trend.

The triangle formation is interesting but does not infer much in terms of direction, so monitor potential breakouts both to the upside and the downside

Ethereum 8H Chart

Ethereum 8H Chart, July 24 2025 – Source: TradingView

ETH is consolidating close to its $3,860 highs, currently also above 5.70% from its recent top but the lack of strong selling momentum within the correction shows that bulls are not ready to give up their hand yet.

The rebound right above $3,500 was a bullish wick, and with the 20-period MA ($3,650) catching up, there might be a strong move cooking in the markets.

Watch for any break below on strong volume for a retracement, also spot if the newfound bull momentum is stocks from today's session brings up some buying flows in the Ether.

Solana 8H Chart

Solana 8H Chart, July 24 2025 – Source: TradingView

Solana saw a more thorough, 15% retracement from its local top ($206.5), but looking out to the bigger picture, buyers are stepping in at the middle of the longer-run upwards channel formed from the April lows to the May preceding highs.

From here, look at $175 as a key barometer for bulls to hold – Prices crossing above the $185 momentum pivot would recreate strong immediate momentum – The altcoins are doing nicely today so bulls would want the lows from today to be the intermediate lows.

Any break from here would leave bears in relative strength.

XRP 8H Chart

XRP 8H Chart, July 24 2025 – Source: TradingView

Ripple has gone through a rough 17% correction after marking new all-time highs at $3.66 – Nevertheless, price action staying above the $3.00 Major Pivot region will prompt further bullish action.

Keep that zone (+/- $0.30) in check for imminent bull/bear strength – The RSI is showing a rounding higher which would give bulls a slightly higher probability of winning the battle, as long as momentum stays positive for the global market.


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