Predicting Bitcoin (BTC) Cost for July 24th
Bitcoin and Ethereum Market Analysis, July 23, 2025
On July 23, 2025, the cryptocurrency market showed a steady trend, with Bitcoin (BTC) trading near $118,487 and Ethereum (ETH) at approximately $1,164.
Bitcoin (BTC)
Bitcoin's price levels remained high but with notably reduced volatility, the lowest implied volatility in almost two years. This stability is attributed to strong institutional participation, such as ETFs holding $154 billion in BTC, which contributes to smoother price action and a large base of passive, long-term holders, suppressing speculative swings.
On the hourly chart, the rate of BTC is approaching the local support of $117,465. If the current bar closes far from the resistance of $119,482, a decline to the level of $112,000 for BTC is expected. However, if bulls fail to seize the initiative, a test of the $117,000 mark for BTC is expected by tomorrow.
From a midterm perspective, the rate of BTC has bounced off the resistance of $119,482, indicating a more bearish situation on the longer time frame. The market, according to CoinStats, might be entering a correction phase.
Ethereum (ETH)
Ethereum, on the other hand, exhibited significantly higher implied volatility compared to Bitcoin, reflecting it being more yield-driven and reactive to market factors. Ethereum ETFs hold around $15.3 billion, much less than BTC, contributing to this higher volatility.
Ethereum had been on a strong upward trajectory in July 2025, surging about 48.7% in the month driven by institutional inflows, technological upgrades like the Pectra upgrade, and overall favorable market conditions.
At press time, the rate of Ethereum might test the support level of $115,226 if the current candle closes near the bar low. CoinStats and Denys Serhiichuk via U.Today highlighted that Ethereum's strong fundamental support and institutional demand were propelling its rally, with forecasts suggesting ETH could reach approximately $3,823 by July 28 and even higher by year-end, although there are some risks such as overbought conditions and macroeconomic uncertainties.
In summary, this analysis from CoinStats and Denys Serhiichuk emphasizes a divergence in volatility and adoption depth between BTC and ETH, underpinning Bitcoin's stable high-level trading and Ethereum's dynamic upward momentum during this period.
- The stability in Bitcoin's (BTC) price levels is attributed to strong institutional participation in the form of ETFs holding $154 billion in BTC, contributing to a large base of passive, long-term holders.
- On the hourly chart, the rate of BTC is approaching the local support of $117,465, and if the current bar closes far from the resistance of $119,482, a decline to the level of $112,000 for BTC is expected.
- From a midterm perspective, the rate of BTC has bounced off the resistance of $119,482, indicating a more bearish situation on the longer time frame, with CoinStats suggesting the market might be entering a correction phase.
- Ethereum had been on a strong upward trajectory in July 2025, driven by institutional inflows, technological upgrades, and overall favorable market conditions, with forecasts suggesting ETH could reach approximately $3,823 by July 28 and even higher by year-end.
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