The next wave of market arrival is likely to improve from August 14th, with overall upward momentum; ETH can break through 4000, and BTC can break through 134000.

Market analysis on July 23, 2025

Market trend

The next wave of market arrival is likely to improve from August 14th, with overall upward momentum; ETH can break through 4000, and BTC can break through 134000.

After the BTC recovery of 120K, it has again fallen back; it needs some time to wash out and won't quickly find direction. The overall direction is still upward, with uncertain timing, tentatively set until August 14th; everyone just needs to hold on, as altcoins will not perform well during this consolidation, focus on resting.

The Ethereum (ETH) pullback is a normal phenomenon: it surged from 2400 to 3860, with almost continuous daily increases for half a month; currently close to the 4000 mark, experiencing resistance and turnover is very normal.

Altcoins generally did not rise: after the ETH pullback, altcoins collectively fell, with almost no projects performing against the trend, indicating that the sentiment for altcoins is still insufficient; the few that did rise are mostly new coins without retail investors' chips.

Current market speculation logic:

ETH is still the key engine for the rise of altcoins; without ETH rising, it is basically impossible for altcoins to have a collective market.

The market structure is extremely polarized: only leading assets have the ability to continuously attract external funds.

The tail-end projects have basically lost investment value.

The logic of funds is gradually maturing: policy, ETF, and treasury support have become core standards for quality assets.