The post Altcoins Pop as Bitcoin Stalls Near $120K: Crypto Daybook Americas appeared on BitcoinEthereumNews.com.

By Omkar Godbole (All times ET unless indicated otherwise) Bitcoin (BTC) traded little changed around $120,000, struggling to build on a weekend bounce characterized by consistent demand at around $117,000. Other tokens were less moribund. The CD20 Index, which captures about 80% of the digital asset market, rose 2% over 24 hours while the CD80 Index traded 4% higher, pointing to the relative strength of altcoins. According to Glassnode, bitcoin dip buyers are adding exposure around the $117,000 level, with 73,000 BTC now held at this cost basis. “Each dip is being absorbed as investors steadily accumulate in this range,” Glassnode said. For those looking to join the current bull run, one analyst suggests ideal entry points either above the $120,000 resistance level upon a clean breakout or near the former resistance-turned-support level around $111,600, which aligns with the May high. Corporate demand for major cryptocurrencies shows no signs of slowing down. Early Monday, Metaplanet said it bought another 780 BTC at an average price exceeding $118,000, bringing its total holdings to 17,132 BTC, valued around $2 billion. Similarly, SharpLink Gaming, the second-largest corporate holder of ether (ETH), expanded its reserves by another 77,210 ETH, worth $295 million. According to Ultra Sound Money, this acquisition notably outstripped ether’s 30-day net issuance of 72,795 ETH, suggesting strong underlying demand. However, ether’s recent rally notably lacks on-chain support, with active addresses and other usage metrics failing to keep pace with the price surge. (See Chart of the Day for more on that.) In broader altcoin news, Aptos, a layer-1 proof-of-stake blockchain, surpassed Solana to become the third-largest chain by total value of real-world assets (RWA) on its network, now trailing only zkSync and Ethereum. For its part, the Ethena Foundation reportedly acquired 83 million ENA tokens between July 22 and July 25…

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Filed under: News - @ July 28, 2025 12:28 pm