#Altcoins on the Rise#   Altcoins are taking over the stage — 5 things to know about Bitcoin.

Bitcoin (BTC) is starting the last full week of July in a wait-and-see mode, with altcoins stealing the spotlight.

BTC price action continues to consolidate from all-time highs of $123,000, and liquidation levels are worrying some investors.

Even price targets held for months are converging around $150,000 for the cycle peak.

Fed Chair Jerome Powell will return to the spotlight this week amid ongoing pressure to resign.

As Bitcoin dominance collapses, there are reports that altseason has already begun.

BTC reserves on exchanges are increasing as investors reconsider holding.

BTC correction expectations

Bitcoin experienced classic volatility heading into the weekly close.

BTCUSD approached $116,000 before a strong recovery began.

Data showed several bearish "long-wick" candles, but sellers were unable to influence market sentiment for long.

Currently around $119,000, Bitcoin remains a favorite among investors, even as expectations of an altseason rise.

“$BTC closed the CME gap immediately after futures opened,” observes trader Daan Crypto Trades regarding the local lows.

“This is the sixth consecutive week that any gap created has closed on or very close to Monday.”

BTC price targets are tied to a resistance trend line. The price is currently attempting to break out of this line.

Another investor warned of another obstacle awaiting the bulls.

“We are entering a quiet week in this strong uptrend, but a potential warning sign is emerging on the 1D timeframe that we should be aware of,” he wrote.

“There are upward wicks, but the price is not moving any further: This is a sign that the market maker is creating short positions.”

He pointed to liquidity, referring to market makers on the exchange's order books, and warned that new lows were becoming increasingly attractive.

“The delta is neutral, with no signs of a short squeeze or a long squeeze,” he said.

“However, we can note the largest individual liquidation level at $115.3,000. This adds further weight to the cluster of downward liquidations shown as a potential pullback.”

Another CME futures gap near $114,000 was also in focus.

“If we receive confirmation of the ‘upside wicks but price not moving’ signal, the price will fall into this area very quickly, triggering liquidations and filling the gap.”

Bitcoin price targets cool amid consolidation

Investor expectations for the next direction of BTC price action are significantly more modest in the short term.

The next stop for BTCUSD could be $130,000, and the long-term peak may not be far from this level.

“$BTC is undergoing a new post-ATH consolidation phase. This is actually a good thing, as altcoins are rising during this time. However, it is expected that BTC will start a new upward leg within 2-3 weeks,”

“This will push BTC above $130,000, marking a local peak. After this, there will be a final upward leg in the fourth quarter, with BTC reaching above $160,000.”

Other cyclical peak targets that have been in the market for months or longer include analyst targets of $137,000 and $145,000, which are steadily approaching.

Earlier this month, another trading analyst suggested the peak could be reached in just two to three months.

The forecasting service's average July forecast shows the crowd favoring $124,000.

Fed Chair Powell to Speak Amid Pessimism Created by Interest Rate Cuts

Another quiet week for US macro data has markets focusing on the Federal Reserve and Chairman Jerome Powell.

Powell, who is under pressure to cut interest rates following personal criticism from US President Donald Trump, will deliver the keynote address at the Integrated Review of the Capital Framework for Major Banks Conference in Washington on Tuesday.

The Fed Chair has resisted pressure for his hawkish economic stance, including calls for his resignation.

Markets plummeted last week due to rumors that Trump would fire Powell, which the White House denied.

Ahead of the Federal Open Market Committee (FOMC) meeting on July 30th, which will determine whether a rate cut is appropriate, markets are showing little confidence that the outcome will favor risk assets.

Data indicates a lower probability of a July rate cut at less than 5 percent.

Rising inflation and strong economic data further cloud the outlook for a Federal Reserve rate cut.

Market rates are almost evenly split on whether to cut by a quarter point in September or not at all.

Last week's inflation reports painted a mixed picture.

Altcoin season frenzy has begun

While Bitcoin is trying to consolidate much of its recent gains, markets are already searching for counterfeit coins.

With Ether (ETH) and XRP (XRP) leading the way last week, the altcoin market is generally expected to follow Bitcoin's lead and kick off the highly anticipated "altcoin season."

Bitcoin remains in the same range, and consolidation continues, driving further capital flows into altcoins.

Shifts in altcoin performance, particularly driven by the strength of ETH, have had a significant impact on Bitcoin's dominance in the cryptocurrency market capitalization.

After reaching 66%, its dominance collapsed last week and is now retesting support, targeting 60%, its lowest level since early March.

"Altcoin season has arrived," analysts declared last weekend.

Others saw the potential for sudden price volatility alongside a generally optimistic altcoin outlook.

"It's very interesting to see how the next week unfolds for altcoins," continued cryptocurrency investor, analyst, and entrepreneur Michaël van de Poppe.

"Given that we've extended the upward trend (in the short term) a bit more in terms of price volatility, I predict a significant short and sharp correction and a continuation of the uptrend. These six months are generally quite bullish for altcoins."

BTC Returns to Exchanges

As BTC price consolidation continues, analysts are increasingly concerned about a potential pullback.

The on-chain analytics platform specifically highlighted BTC reserves on exchanges and inflows from Bitcoin whales.

BTC holdings on centralized exchanges reached their highest level since June 25th.

This sustained inflow reflects investors' continued profit-taking and distribution. This dynamic typically signals weakening buy-side pressure and a potential correction.

Another participant assessing whales noted that inflows from whale wallets to exchanges have not yet reached previous local peaks, but the trend is worth monitoring.

“During the previous two market peaks, inflows exceeded $75 billion, triggering the beginning of a correction/consolidation phase,” he summarized.

“Currently, the monthly average has increased by approximately $17 billion, from $28 billion to $45 billion between July 14-18.”