The weekend saw the crypto market grow as altcoins recorded gains. Led by Ethereum, which surged above $3,800 and surpassed $450 billion in market cap, other altcoins including XRP, DOGE and SOL followed. However, amid this rally, Bitcoin has been moving rather sideways. 

But nonetheless, the crypto market is growing with an altcoin season heating up at the moment. If altcoins continue to outperform BTC with the Bitcoin dominance dropping, the altcoin season could be just around the corner. 

Crypto Market Gains $103.91B as Altcoins Pump

The crypto market has been growing over the last 24 hours. According to data by TradingView, the total crypto market cap (TOTAL) has surged to $3.88 trillion. This means the market has gained $103.91 billion over the last 24 hours, marking a 2.75% surge. The surge is majorly contributed by the altcoin rally recorded on Sunday. 

With altcoins rallying, the crypto market could continue to rally. The immediate resistance lies around $4.00 trillion. A surge to this level would mean a new all-time high for the total crypto market cap. 

However, in case the current rally fails to hold, the TOTAL could dip towards the immediate support at $3.74 trillion. In case this level is breached, the crypto market could plunge further towards the next support at $3.5 trillion.  A deeper dive past this support would invalidate the bullish outlook. 

Bitcoin Continues to Consolidate After ATH

After rallying to an all-time high (ATH) at $123,300 on July 14, Bitcoin’s momentum has slowed down. Majorly, this has been contributed by a wave of profit-taking from investors who capitalized on the rally to book some profits. As of this writing, Bitcoin (BTC) is trading at $118,744 with the sideways price action continuing, as per the daily chart on TradingView. 

Bitcoin is currently moving sideways between $115,796 and $121,064 over the last 6 days. However, with a green candle now forming today after a weekend slip up, BTC is hinting at a potential rally. Climbing out of the consolidation zone above $121,064 could signal another attempt to rally towards a new all-time high. 

But in case the momentum fails to hold, Bitcoin could continue consolidating or even drop further. BTC has strong support at $115,796 which is acting as the bottom of the consolidation zone. A plunge below this level could trigger a deeper dive towards the next support at $110,599 which would wipe out all the recent gains. 

Ethereum Eyes More Gains After Breaching $3,700

Ethereum (ETH) has been on a bullish rally recently with the price recording the 9th consecutive green candle on the daily chart. However, while the coin reached $3,800 on Sunday, it has retraced slightly to $3,722 as of this writing as per the ETH/USDT daily chart on TradingView. But nonetheless, the bullish structure still looks intact. 

Ethereum’s bullish rally is majorly fueled by institutional adoption with the Ethereum ETFs recording a historic $2.18 billion in inflows between July 14-18. This level marks a new all-time high for ETH ETF weekly flows. 

Continued institutional interest could drive ETH even further potentially towards the resistance at $4,007. Turning this level into support would further trigger a rally to $4,540 or even higher towards the all-time high at $4,891 which was set in the 2021 bull run. 

However, if ETH’s rally slows down, a dip towards the support at $3,375 could occur. A dip below this level would further trigger a plunge towards the next support at $2,952 thus wiping out all the recent gains. Such an occurrence would signal a shift in Ethereum’s momentum. 

What to Expect in the Crypto Market This Week?

This week, there are several US economic indicators to keep watch on. In particular, crypto market participants must keep an eye on Fed Chair Powell’s upcoming speech and the Initial Jobless Claims, among others. 

🔍 This Week in Markets: Economic Data & Earnings Watch (July 21–25)

📅 Economic highlights

Tue (7/22): Fed Chair Powell speaks

Wed (7/23): Existing Home Sales (June) – expected ~4.01M vs May’s 4.03M  & Flash U.S. PMIs for Services & Manufacturing 

Thu (7/24): Jobless…

— AreaForty (@AreaForty) July 20, 2025

Set for Tuesday, Federal Reserves’ Chair Jerome Powell is set to give a speech at the Banking Conference. For this event, crypto enthusiasts will be awaiting Powell’s remarks to see whether he will provide any hint regarding the rate cut decision with the FOMC meeting set for July 30. Powell’s speech comes just a week after the U.S CPI data showed an increase of 2.7% in inflation in the month of June. 

Another data to keep watch of is the U.S Jobless Claims set to be released on Thursday. This data which shows the number of citizens who filed for unemployment for the first time last week, could affect the crypto market. The week ending July 12 recorded 221,000 in Initial Jobless Claims. 

A surge of this level for the week ending July 19 could spook the market due to weakening jobs. However, a drop from this level could signal a strong labor market in the U.S thus could sidestep rate cuts and lead to bearishness in the crypto market.