Bitcoin swapped for Altseason bets by Crypto traders this week

BitcoinBTCIn the first week of August, there is a full-week holiday. “wait and see” As altcoins take the spotlight, mode is on.

• BTC prices continue to stabilize after reaching $123,000 highs. However, the liquidation level is making traders anxious.

• Even if you have been holding your price targets for several months, they will all come together at around $150,000.

• The Fed’s Powell will be back on stage this week amid the ongoing calls for him to step down.

• Altseason has already begun, as Bitcoin dominance falls.

• Investors are rethinking their hodling and increasing the reserves of BTC exchange.

BTC Correction Bets Include $114,000 CME Gap

Bitcoin showed some typical volatility at the close of each week. BTC/USD approached $116,000 and then a big rebound began.

The Data of Cointelegraph Markets Pro The following are some examples of how to get started: TradingView The Multiples “long wick” Candles fell to their lowest point, while the sellers were unable to influence market sentiment.

Bitcoin’s current price is around $119,000 despite the increasing expectation of a new cryptocurrency. “altseason.”

“$BTC Closed its CME gap straight away after futures opened,” popular trader Daan Crypto Trades observed Local lows 

“That’s now it’s 6th week in a row where any gap that was created was closed on Monday or really close to it.”

The following are some of the ways to get in touch with us. Cointelegraph reportedBTC targets are based upon a trendline of resistance that the current price is trying to overcome.

CrypNuevo, a fellow trader, warned that bulls would soon face another obstacle.

“We’re heading into a quiet week during this strong uptrend, but there’s a warning sign potentially forming on the 1D time frame that we need to be aware of,” The summarised version of his speech is available at thread on X Sunday.

“Wicks to the upside but price not progressing any further: a sign that MM builds shorts.”

CrypNuevo warned about the increasing temptation to new lows by market makers who were on order books and observing liquidity.

“Delta is neutral – no signs of short squeeze or long squeeze,” He explained. 

“However, we can notice that the biggest individual liquidation level is at $115.3k. This adds more weight to the downside liquidation cluster shown in the tweet above as a potential pullback.”

It was interesting to note that the CME Futures Gap is also close to $114,000, but a little further away.

“If we get confirmation of the signal ‘wicks to the upside but price not progressing any further,’ price will very quickly drop to this zone, hit liquidations and fill the gap,” The thread has concluded.

Bitcoin’s price target drops on consolidation

In the short-term, expectations about BTC prices are low.

BitBull’s popular trading platform believes $130,000 is the next stop for BTC/USD. The long-term high will not be too far away.

“$BTC is going through a consolidation phase after a new ATH. This is actually a good thing as alts are rallying during this. But I think BTC another leg up will start within 2-3 weeks,” He told X fans at the weekend 

“This will pump BTC above $130K and will also mark the local top. After that, there’ll be a final leg up in Q4 and BTC will peak above $160,000.”

Cointelegraph has reported that analysts and other targets are also in high demand. Aksel Kibar’s $137,000 The X pundit BitQuant’s $145,000These now seem to be getting increasingly closer.

Rekt Captial, another trader analyst from earlier in the month, predicted that the bottom could arrive within just two to three months.

Prediction service averages July’s forecast KalshiThe crowd, however, prefers $124,000.

Powell, Fed chairman to address rate cut gloom

The markets are focused on Jerome Powell and the Federal Reserve after another quiet week of US macrodata.

Powell already facing pressure to lower interest rates as a result of the. barrage of personal criticism Washington, D.C., Tuesday, Donald Trump, US President, will make the opening remarks of the Integrated Review of the Capital Framework for Large Banks Conference.

He has refused to resign despite calls from critics who have criticized his economic views.

The markets were thrown into turmoil last week when rumors spread that Trump was going to fire Powell instead, a claim which then the White House denied.

Markets are not optimistic about the outcome of the Federal Open Market Committee meeting on July 30, which will determine whether or not a rate reduction is necessary.

CME Group: Latest data FedWatch Tool Under 5% is the probability of a reduction in July.

“Rising inflation and strong economic data is clouding the outlook for interest rate cuts from the Federal Reserve even further,” In the most recent edition of Mosaic Asset’s newsletter, it added:The Market Mosaic” released on Sunday.

“Market odds are about evenly split on a quarter-point rate cut in September or no cut at all.”

Inflation reports for last week delivered a mixed bag, with the coming days set to deliver around 15% of S&P 500 companies’ earnings as commentators eye the impact of US trade tariffs.

Altseason fever takes over

Markets are looking for copies of Bitcoin as it tries to consolidate its recent gains.

The Ether (ETHIt is a cryptocurrency that uses XRP as its currency.XRPThe altcoins market is expected to grow in the coming weeks. follow in Bitcoin’s footsteps And bring on a long-anticipated “altseason.”

Altcap (TOTAL2) [2W] ready to explode into price discovery.

Massive tension built up within a 4-year Cup & Handle pattern 🧨 pic.twitter.com/JHjxyxD43o

— Gert van Lagen (@GertvanLagen) July 21, 2025

“Bitcoin remains in the Range and the consolidation continues, facilitating further money flow into Altcoins,” Rekt Capital is a popular analyst and trader. summarized Over the weekend

The dominance of Bitcoin in the crypto-market cap has already been affected by changes in altcoin performances, notably thanks to the strength of ETH.

After hitting 66%, dominance has collapsed over the past week, now targeting the 60% mark for a support retest — its lowest levels since the start of March.

The drop has been the most significant in recent years, as various commentators point out.

BTC dominance biggest drop in one week since 4 years.

Take a break and enjoy the next couple of weeks

So far so good! The month has been a great success for us https://t.co/Xw2AzLiWcN pic.twitter.com/r4u9vPecEw

— 🐧 Pentoshi (@Pentosh1) July 20, 2025

“Altseason is here,” Swissblock head macro economist Henrik Zeberg announced late last week.

Some altcoin investors saw flash volatility as a potential risk, despite an optimistic outlook.

“Very interested to see how the next week is going to be for Altcoins,” crypto trader, analyst and entrepreneur Michaël van de Poppe continued. 

“Given that we’re slightly extended to the upside (short term) in terms of volatility, I would guess we’re getting a significant short and violent correction and continue the uptrend. These six months are massively bullish for Altcoins overall.”

BTC is returning to the exchanges

BTC’s price is continuing to consolidate, and analysts are growing more concerned about a possible pullback.

Related: Ether preps record short squeeze as analysis sees $4K ETH price ‘soon’

Recent Years “Quicktake” Onchain analytics platform CryptoQuant, in blog posts published on its website, drew particular attention to the following phenomena: BTC reserve levels at exchanges and Bitcoin whales’ inflows into exchanges.

The BTC stock on centralized exchanges has reached its highest level since June 25,

“This sustained inflow reflects ongoing profit-taking and distribution by investors — a dynamic that often signals weakening buy-side pressure and hints at a potential corrective phase,” contributor ShayanMarkets argued.

Darkfost, a fellow contributor, noted in his assessment of whales that, while the exchange flows from whale wallets have not reached previous local peaks, it is still worth monitoring.

“During the previous two market tops, inflows exceeded $75B, which triggered the beginning of a correction/consolidation phase,” He summarized. 

“Currently, the monthly average has just jumped by nearly $17B, rising from $28B to $45B between July 14 and 18.”

The article is not intended to provide investment advice. Risk is inherent in every investment decision and trade. The reader should always do research prior to making a final decision.