Ethereum and alts continue momentum, and JP Morgan clients may soon borrow against their crypto
🔄 Altcoins on the rise - Bitcoin cools off, while ETH, XRP, and XLM post strong gains, with Stellar doubling in price over the past month.
📉 Bitcoin dominance drops - BTC’s market share fell 5% in July, its biggest drop since Nov 2024.
📈 Altcoin momentum builds - the Altcoin Season Index nears 55, hinting at a growing shift toward alternative cryptos.
🏦 Institutions lean in - JPMorgan may let clients borrow against BTC and ETH as crypto moves deeper into traditional finance.
Bitcoin saw a modest 0.31% gain overnight, 0.64% over the past seven days, and remains up about 16% over the last 30 days. But it’s Ethereum that better tells the broader story playing out in crypto markets: ETH is up 1% overnight, 16% on the week, and more than 60% over 30 days. XRP shows a similar pattern.
In short, Bitcoin has entered a holding pattern after breaking all-time highs earlier this month, while Ethereum and XRP, also buoyed by institutional and legislative tailwinds, have continued to climb. The same trend is playing out across several altcoins. Stellar (XLM), for instance, has more than doubled over the past month.
Bitcoin’s market dominance has fallen from 65% to around 60% in July 2025, marking its sharpest monthly decline since November 2024, while the Altcoin Season Index has climbed from 26 to between 48–54. It suggests that nearly half of the top 100 altcoins are now outperforming Bitcoin over a 90-day window. Technically, it’s not yet “altcoin season” just yet, which begins at 75, but momentum seems to be building.
Meanwhile, institutions continue to build crypto into their financial strategies. Reports are circulating that JPMorgan may soon allow clients to borrow against Bitcoin and Ethereum, with the Financial Times suggesting a potential rollout next year, though details remain subject to change.
In the markets…
🌍 Total crypto market cap ↗️
The global crypto market cap is approximately $3.92 trillion, up 0.56% over the past 24 hours.
🟠 Bitcoin (BTC) ↗️
Price: $118,409, up 0.75% in the last 24 h
Daily high: $120,222
Daily low: $117,697
📈 S&P 500 ↗️
SPY is currently up about 0.064% since yesterday’s close.
🥳 Fear & Greed Index
The Crypto Fear & Greed Index stands at 70/100, indicating Greed among investors.
📊 Bitcoin Relative Strength Index (RSI) (14)
The 14-day RSI for BTC is approximately 46, in neutral territory.
Data is accurate as at 08:12 GMT, 23 July.
Cautionary Notes
It's definitely tempting to get swept up in the excitement, but please heed these words of caution: Do your own research, only invest what you can afford, and make good decisions. The indicators contained in this article will hopefully help in this. Remember though, the content of this article is for information purposes only and is not investment advice or any form of recommendation or invitation. The Digital Commonwealth always advises you to obtain your own independent financial advice before investing or trading in cryptocurrency.
