Deep Tide TechFlow News, July 21, according to The Block, research analysts state that sustained institutional demand is driving Bitcoin to maintain near historic highs, with the current trading price around $118,500. Ethereum has surged to $3,761, benefiting from an increasing number of companies incorporating ETH into treasury reserves and record inflows into ETFs.
Presto Research analyst Min Jung noted that although Bitcoin's dominance has decreased to 61%, the current bull market is primarily driven by institutions, and it remains uncertain whether this strength can extend to a broader altcoin market beyond major 'dinosaur coins.'
LVRG Research Director Nick Ruck added that the current bull market cycle is attributed to corporate treasury investments in Ethereum and a few major altcoins, as well as the trend of traditional financial companies further integrating DeFi through RWA tokens and stablecoins.
