Bitcoin Dominance Slips, Is a New All-Time High Price Still in Play?

After a record-breaking run toward an all-time high of over $123,000, Bitcoin (BTC) price traded firmly in the bullish territory after a modest pullback.

But due to significantly higher gains among blue-chip altcoins, Bitcoin’s dominance slipped by about 7% over the past three weeks.

While the trend shift in favor of altcoins is evident from these numbers, smart money continued to scoop up BTC as its price takes a temporary breather.

Forward-looking investors now expect the fresh regulatory tailwinds from the US Crypto Week to create more demand for the world’s largest crypto.

Corporate Holdings Surge Despite BTC Dominance Dip

Bitcoin’s share of the total crypto market cap fell from roughly 66% at the end of June to about 61% at press time.

This decline toward the four-month low in dominance shows a clear trend of capital rotation into altcoins.

Meanwhile, Ethereum’s market presence climbed from 9% to over 11% in the same period. Other major altcoins have also logged impressive gains, with Ripple’s XRP even finding a new ATH on July 18.

Interestingly, institutions and corporations seized this moment as an opportunity to accumulate more Bitcoin.

Over the single week of July 14–19, corporates collectively added roughly 7,700 BTC to corporate treasuries.

To put things in perspective, Q2 2025 saw corporate balance sheets grow their BTC reserves by nearly 850,000 BTC in total.

Bitcoin Price Analysis: Is BTC Preparing for a New All-Time High?

Due to record levels of institutional adoption, the Bitcoin price sustained its gains near the $118,000 level, trading just 3.8% below its ATH at the time of writing.

BTC’s price took a breather as the coin’s Relative Strength Index (RSI) saw a reversal from overbought levels.

Moreover, a bearish divergence with the price caused the indicator to slightly dip over the last few days.

Despite this brief cooldown, Bitcoin’s overall trend remains firmly bullish. On the daily chart, BTC’s price moved within a rising parallel channel that has guided its uptrend since April.

The upper line of the parallel channel was toward $123,000, while the lower line and the 20-day EMA have created a well-defined support level.

This technical backdrop shows that interim pullbacks and profit-taking phases could be healthy buying opportunities for investors.

Even from a long-term perspective, investor optimism in Bitcoin showed no signs of slowing, as exchange reserves remain near multi-year lows.

What’s worth noting is that fresh demand continues to pour in, with nearly $5.11 billion flowing into Bitcoin ETFs in just the past two weeks.

US Crypto Week Sets Stage for Bitcoin’s Next Big Move

The US Crypto Week on Capitol Hill marked a landmark shift in crypto policy. The House passed a trio of major bills with sweeping bipartisan support, with Donald Trump even signing the GENUIS Act into law.

But many believe the full impact of this breakthrough has yet to be fully reflected in Bitcoin’s price.

This regulatory clarity could now bring the capital that was previously on the sidelines to the Web3 space.

Looking ahead, a major tailwind could be Trump’s push to open up the massive US retirement savings market to cryptos.

The administration is preparing an executive order to allow 401(k) retirement plans to invest in assets like Bitcoin and Ethereum.

This move could eventually funnel a portion of the nation’s $9 trillion in retirement funds into digital assets.

This growing regulatory support is why experts still see a significant upside from the current price levels.

For instance, Standard Chartered analysts projected that Bitcoin could reach $135,000 by the end of Q3 and even $200,000 by year-end.