Bitcoin whales trigger a new wave in the altcoin market! Will the Price Continue to Rise in August?
Jakarta, Pintu News – In mid-July, there was a major movement in the cryptocurrency market that caught the attention of many investors and analysts. Data from CryptoQuant showed that Bitcoin whales had sent more than 61,000 BTC to various exchanges on July 17, which was the largest inflow in the past year. This phenomenon is not only interesting because of its large volume, but also because of its impact on Bitcoin’s dominance and growth potential for altcoins.
Bitcoin Whale Activity Analysis
On July 17, there was a recorded inflow of 32,300 BTC into the exchange in just one hour. This was followed by two other large transfers involving 15,800 BTC and 13,400 BTC from wallets holding more than 100 BTC. These large movements usually signal profit-taking, especially after Bitcoin reached a new high of $123,000 on July 14.
After the whale inflows, Bitcoin price has decreased and is now in the range of $117,000 to $118,000. The decline in Bitcoin’s dominance from 64% to 60% between July 17 and 21 suggests that there may be a rotation of capital from Bitcoin to altcoins. This is often an early indicator of an altcoin season that may be developing.
Capital Rotation to Altcoins
As Bitcoin (BTC) stabilizes and capital begins to flow into Ethereum , Solana , and other mid-cap tokens, altcoins tend to perform better. This indication is reinforced by the rising prices of several major altcoins. Ethereum, Ripple , and Solana have registered double-digit gains in the past week.
In addition, the market capitalization of meme coins has increased by 8% just today, approaching $90 billion. The Altcoin Season Index also rose from 32 to 56, signaling a shift in market momentum. This suggests that while Bitcoin may be in a consolidation phase, altcoins are entering a period of strong momentum.
Market Outlook and Next Steps
With whale activity seemingly easing Bitcoin’s rally while tacitly supporting the altcoin’s rise, the next move will depend on whether buyers can absorb the selling pressure or if there will be another wave of whale selling. Currently, Bitcoin’s price support still stands at around $115,000.
Overall, this is a cooling period for Bitcoin and the beginning of momentum for altcoins. Investors and analysts are advised to continue monitoring whale flows and BTC.D for confirmation of the next phase in this market dynamic.
Conclusion
With this change in dynamics, the cryptocurrency market may be entering an exciting new phase. A deep understanding of whale movements and changes in market dominance can provide valuable insights for investors looking to maximize their returns in this volatile market.
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*Disclaimer
This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities are subject to high risk and volatility, always do your own research and use cold hard cash before investing. All activities of buying andselling Bitcoin and other crypto asset investments are the responsibility of the reader.
Reference
- BeInCrypto. Bitcoin Whale Selloff Signals Altcoin Season. Accessed on July 22, 2025
