XLM, ADA & HBAR Outperform Bitcoin in July Rally

Bitcoin has once again reached new all-time highs, propelling the entire crypto market upward. Investor interest is surging, the market cap is hitting records, and Ethereum is back at $3,000.

The second week of July marks yet another historic moment for Bitcoin (BTC), which has set a series of fresh ATHs, the latest hitting $118,839 just yesterday.

Bitcoin Hits Another All-Time High

With this move, Bitcoin has seen two consecutive days of strong bullish momentum, pulling the broader altcoin market along. BTC is currently trading around $117,900. Since the beginning of 2025, it has climbed +26.25%, continuing the impressive +121% rally recorded in 2024.

Bitcoin Leads the Altcoin Rally

Despite Bitcoin’s record-breaking run in July, it’s not the top performer among the top 20 cryptocurrencies. As shown in the chart, Stellar leads with a remarkable +70% gain, followed by Hedera and Cardano, both up by approximately 41–42%.

Ethereum at $3,000 and a New Market Cap Record

Special mention goes to Ethereum, which, despite being down -9% year-to-date, has surged over 110% since its April low, reclaiming the $3,000 mark.

In this bullish environment, it’s also worth highlighting a new record for total crypto market capitalization, which has now reached $3.64 trillion, surpassing the previous all-time high set in December 2024.

Bitcoin in 2025

Bitcoin’s climb to new highs in 2025 hasn’t been a straight path. The journey has been marked by high volatility and wide price swings. After reaching an ATH of $109,356 in January, BTC entered a corrective phase that briefly slowed the uptrend that had been in place since 2023.

Breakout from the Descending Channel and Fibonacci Extension

To analyze recent price action, we look at the daily chart showing a descending channel formed after the May ATH. Bitcoin trended downward with lower highs and lower lows, bottoming out at $98,240 on June 22 before bouncing.

In early July, the price tested the resistance from the descending trendline before breaking out decisively this week.

Key Extensions and Support Levels to Watch

We are now entering truly uncharted territory. From a cyclical standpoint, this could be a potential sell window. However, based on Fibonacci extensions, Bitcoin may still push higher toward $120,400.

On the downside, the first major support level, based on the rally from June’s low to the current ATH, is around $111,200, with stronger support at $108,800.