Crypto price today: Bitcoin holds firm above $118,000; Altcoins trade mixed
traded steadily above the $118,000 mark on Wednesday, maintaining its recent momentum despite mixed signals from institutional flows and growing volatility across
altcoins
. As of 12:51 pm IST, the world's largest cryptocurrency was up 0.2% at $118,601, while
Ethereum
slipped 0.2% to $3,698.
The broader crypto market showed signs of divergence, with
BNB
gaining 4.6% to hit a new all-time high of $804, while coins like Ethereum, XRP, Cardano, and Avalanche fell up to 2%. Traders pointed to a sector-wide pause after weeks of bullish price action driven by regulatory optimism and
institutional interest
.
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'Bitcoin is consolidating just below its all-time high, showing signs of slowing momentum amid the largest exchange inflows since July 2024 and ETF outflows of $68 million on July 22,' said Riya Sehgal, Research Analyst at Delta Exchange. She added that a sustained hold above $117,000 keeps the bullish bias intact, but a breach below this support level could trigger a deeper correction.
Crypto Tracker
TOP COIN SETS
NFT & Metaverse Tracker
17.70%
Buy
DeFi Tracker
9.84%
Buy
Smart Contract Tracker
9.43%
Buy
BTC 50 :: ETH 50
4.66%
Buy
Web3 Tracker
2.95%
Buy
TOP COINS
(₹)
BNB
68,469 (
4.16%
)
Buy
Ethereum
316,462 (
0.11%
)
Buy
Tether
86 (
0.04%
)
Buy
Bitcoin
10,208,462 (
-0.31%
)
Buy
XRP
298 (
-0.58%
)
Buy
Bitcoin's dominance has now declined for seven straight days, suggesting a capital rotation into altcoins. Ethereum ETFs alone have seen $533.8 million in inflows, potentially setting the stage for a high-volatility altcoin rally.
Did you Know?
The world of cryptocurrencies is very dynamic. Prices can go up or down in a matter of seconds. Thus, having reliable answers to such questions is crucial for investors.
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Details
»
While BNB stood out with a record-high price, other tokens like Solana, Tron, and Stellar rose between 1% and 2.4%. In contrast, Ethereum and Cardano remained under pressure, unable to sustain recent highs.
Live Events
According to CoinDCX Research, 'Despite growing weakness among the bulls, markets remain largely stable. Bitcoin is above $118K, Ethereum over $3,700, and there's renewed attention on memecoins, signaling retail interest.'
The SEC recently paused the conversion of Bitwise's 10 Crypto Index Fund into an ETF shortly after approval, adding a layer of uncertainty. Meanwhile, 21Shares filed for an ONDO ETF, and a draft legislation on crypto markets was released by U.S. Senators, covering token classification, banking rules, and disclosures.
Shivam Thakral, CEO of BuyUcoin, said, 'The market is digesting macroeconomic concerns, but the surge in institutional adoption and clarity on regulations is keeping the uptrend alive. If the momentum sustains, another leg up is possible.'
Vikram Subburaj, CEO of Giottus, added that Bitcoin remains in a 'liquidity tug-of-war,' with possible downside support at $115,000–116,100. The Coinbase Premium Index staying flat indicates cautious U.S.-based participation, he noted.
Edul Patel, Co-founder and CEO of Mudrex, pointed to renewed institutional accumulation, including Strategy's purchase of 6,220 BTC and SharpLink's $258 million ETH buy. 'If momentum holds, Bitcoin could test resistance at $122,400, with key support shifting to $117,400—a healthy setup for continued upside,' he said.
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