Market overview: Ethereum climbs 6% as Bitcoin stalls
Bitcoin’s recent upward momentum hit a wall just shy of $116,000, triggering a modest retreat for the leading cryptocurrency.
After briefly reclaiming $115,600, BTC faced a sharp rejection, dropping to $114,000 at press time. This comes after a volatile week marked by a slide from $119,000 to $112,000 over the weekend, following the Federal Reserve’s decision to keep interest rates unchanged for the fifth consecutive time. Despite the bearish pressure, bulls held the line at $112,000, preventing a deeper drop below $110,000. Bitcoin’s market capitalization now stands at $2.27 trillion, with its dominance falling below the 60% threshold, highlighting renewed strength in the altcoin space.
Ethereum rises, altcoins slide — except Litecoin
While Bitcoin struggled, Ethereum posted a strong 24-hour performance, gaining 6.3% to trade at $3,697.76. Its market cap climbed to nearly $449 billion, boosted by a 43% surge in daily trading volume. However, most altcoins failed to keep pace. Toncoin (TON) and Ethena (ENA) saw heavy retracements, dragging the overall market mood into negative territory.
Litecoin was the surprising outlier, jumping 8.5% to break above $120—an uncommon rally in a red-dominated session. The broader crypto market cap now hovers around $3.74 trillion, reflecting the mixed sentiment across sectors.
Market sentiment teeters as investors reassess
The crypto Fear & Greed Index currently reads 60, signaling mild greed but hinting at growing caution among investors. Meanwhile, the Altcoin Season Index stands at a neutral 51, suggesting neither Bitcoin nor altcoins are commanding decisive dominance.
This balanced metric mirrors broader market uncertainty following the Fed’s policy stance and Bitcoin’s inability to reclaim higher support zones. With price volatility and mixed performances across assets, traders appear to be in wait-and-see mode as the next macroeconomic cues develop.
Recently we wrote that Ethereum is trading at $3,650.73, up 5.14% on 4 August 2025.
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