• Crypto market cap rises by $41 billion in 24 hours, reaching $3.88 trillion as altcoins spark renewed investor optimism.
• Bitcoin slips below $118,000 after failing to breach resistance, facing possible decline to $115,000 if altcoin momentum persists.
• Raydium surges 20% to $3.48, with bullish technicals targeting $3.94—unless profit-taking reverses its gains.

The total crypto market cap (TOTAL) has grown by $41 billion over the last 24 hours. Bitcoin (BTC), however, is sliding on the daily chart, currently standing below $118,000. On the other hand, Raydium is leading the altcoins with a 20% rise today.

In the news today:-

• Ark Invest, led by Cathie Wood, sold 218,986 Coinbase shares worth $90.58 million across three ETFs. The move followed Coinbase’s all-time high above $437 after major U.S. crypto legislation was passed.
• Coinbase launched perpetual futures trading for US residents on July 21, 2025, via its CFTC-regulated platform. The move allows leveraged trading without monthly expirations, aligning with global standards.

The Crypto Market Is Steady

The total crypto market cap surged by $41 billion in the past 24 hours, reaching $3.88 trillion. Altcoins are fueling this growth, signaling renewed investor confidence. As momentum builds, the crypto market shows strong potential to break resistance levels and sustain its upward trend in the near future.

Currently facing the $3.90 trillion barrier, TOTAL is inching toward the significant $4.00 trillion milestone. This move appears increasingly possible amid rising altcoin strength. If the altcoin season confirms, the market could breach resistance, setting a new record and reinforcing the long-term bullish trend for digital assets.

However, bearish macroeconomic signals could reverse the crypto market’s upward momentum. Should external financial conditions deteriorate, TOTAL may face selling pressure. This could result in a drop to $3.80 trillion, erasing recent gains.

Bitcoin Faces Some Decline

Bitcoin’s price currently stands at $117,850, slipping below the key $118,000 threshold. This drop follows a failed attempt to break the $120,000 resistance last week. The decline signals short-term weakness.

Although Bitcoin is not undergoing a sharp correction, its recovery prospects remain uncertain. If the altcoin season gains traction, BTC could face further downside pressure. A likely scenario involves Bitcoin falling to test the psychological support level of $115,000 as capital shifts toward higher-performing altcoins.

Conversely, if demand for Bitcoin surges again, the asset could regain momentum. A successful breach of the $120,000 resistance would pave the way toward $122,000. Reaching the all-time high of $123,218 would invalidate the bearish narrative and reestablish Bitcoin’s dominance in the crypto market.

Raydium Takes The Lead

Raydium (RAY) led the altcoin market with a 20% surge in the last 24 hours. The token is trading at $3.48, closely approaching resistance at $3.63. Investor confidence appears strong, but RAY must break past this key level to sustain its bullish momentum and continue its rally.

Technical indicators such as the Parabolic SAR positioned below the candlesticks confirm upward momentum for Raydium. If this trend continues, RAY could surpass the $3.63 resistance. Doing so would likely propel the altcoin toward $3.94, marking a significant extension of its current rally in the changing altcoin market.

However, a sudden wave of profit-taking could threaten RAY’s gains. If investors begin selling, Raydium may lose its momentum and decline to $3.07. A further drop to $2.79 would erase recent progress and invalidate the bullish outlook, signaling a potential reversal in short-term price action.