Bitcoin has experienced a notable surge in value throughout early to mid-July 2025, with market participants anticipating a rise to $120,000. This upward momentum is part of a broader rally in the cryptocurrency market, where altcoins such as Ethereum (ETH) and XRP have surged by over 20% in a single week. Bitcoin's market dominance has declined to a four-month low as investors appear to be reallocating profits from Bitcoin's all-time highs into alternative cryptocurrencies. The overall crypto market is described as pumping, with expectations of an impending major altseason, potentially the largest in history. Additionally, the global M2 money supply is expanding rapidly, which some analysts suggest could drive Bitcoin into a parabolic growth phase. While Bitcoin's price has temporarily stalled, it is widely expected to resume its upward trajectory alongside the broader altcoin rally.