Bitcoin price today: flat at $118k, altcoins fall as markets lock in recent gains

Published 22/07/2025, 07:14
Updated 22/07/2025, 14:58
© Reuters.

Investing.com-- Bitcoin edged lower on Tuesday, headlining a drop in broader cryptocurrency prices as the sector saw some profit-taking after a stellar run-up over the last two weeks.

Bitcoin had surged to record highs of over $123,000, while altcoins also rallied as crypto bulls cheered the U.S. government’s passage of key crypto regulation. Bitcoin was also boosted by President Donald Trump’s tech company, Trump Media & Technology Group Corp (NASDAQ:DJT), disclosing a $2 billion stockpile of the crypto.

But this rally was seen running dry by Tuesday, with Bitcoin having pulled back sharply from recent peaks. Other altcoins also clocked some losses after strong gains in recent sessions.

Risk appetite was also seen cooling amid growing uncertainty over Trump’s tariffs, which will take effect from August 1, as well as a Federal Reserve meeting next week. 

Bitcoin slipped 0.3% to $118,500 by 09:53 ET (13:53 GMT). 

Trump Media discloses $2 bln Bitcoin holdings 

Trump Media on Monday said it accumulated about $2 billion in Bitcoin after it raised some $2.3 billion for the purpose of establishing a Bitcoin treasury. 

The announcement sent Trump Media’s shares up as much as 9%, although they settled up 3.1% on Monday. 

The announcement underscored Trump’s growing interest in crypto, with his family having launched several crypto ventures this year. These include the World Liberty Financial Group, and the $TRUMP memecoin, both of which have boosted the president’s personal wealth. 

The president had earlier this year signed orders setting up a strategic Bitcoin reserve, and had appointed a “crypto czar” for the White House. 

Trump’s crypto interest also saw him recently sign into law the GENIUS Act, which establishes a regulatory framework for stablecoins. Passage of the act was a key driver of crypto’s recent rally, as traders welcomed more U.S. regulatory approval.

Still, Trump’s pro-crypto stance has raised concerns over a potential conflict of interest for the president, given that his legislative moves directly affect the price of his crypto holdings. 

Musk’s SpaceX makes first crypto transaction in over 3 years

Elon Musk’s SpaceX moved part of its Bitcoin holdings on Tuesday, marking its first crypto transaction in over three years, according to data from Arkham Intelligence. A wallet linked to the company transferred 1,308 BTC (around $150 million) to a new address.

This is the first movement since June 2022, when SpaceX had sent several batches—totaling over 17,000 BTC—to Coinbase (NASDAQ:COIN). 

Arkham data shows SpaceX now holds 6,977 BTC, valued at approximately $825 million.

Crypto price today: altcoins retreat after strong rally 

Broader crypto prices largely tracked declines in Bitcoin, as they faced some profit-taking after a strong rally over the past week.

World no.2 crypto Ether fell 4.4% to $3,652.56 after reaching its strongest level since December. 

XRP fell 1.8% to $3.50, while Cardano lost over 5%. Solana outperformed, rising 3%.

Among meme tokens, Dogecoin lost 4.4%, while $TRUMP plunged 7.4%.

(Additional reporting by Vahid Karaahmetovic.)

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers
© 2007-2025 - Fusion Media Limited. All Rights Reserved.