Major cryptocurrencies are consolidating at recently established highs as sentiment remains upbeat due to strong institutional inflows and rising optimism around spot ETF approvals for altcoins.
Notable Statistics:
IntoTheBlock data shows large transaction volume decreasing by 4.3% and daily active addresses growing by 2.4%. Transactions greater than $100,000 are up from 11,019 to 12,303 in a single day. Exchanges netflows are up by 19.9%. Coinglass data reports 88,497 traders were liquidated in the past 24 hours for $242.80 million.
Notable Developments:
Bitcoin, Ethereum Poised For Bullish July, Experts Say, But Only One Is ‘Underowned’ Anthony Scaramucci Predicts Bitcoin Treasury Frenzy ‘Will Fade’ Arthur Hayes Shares His ‘Stablecoin Play’ — And It Isn’t Betting On Circle XRP Spikes 3% As Ripple Applies For US Banking License
Top Gainers:
Trader Notes: Crypto trader Ted Pillows noted that Bitcoin dominance appears set for a short-term decline, likely triggering a brief relief rally for altcoins. While it’s not expected to mark the beginning of a full altseason, altcoin holders may still enjoy a few weeks of upside.
Byzantine General sees a breakout in both price and open interest (OI) typically signals continued upside. Based on this pattern, BTC could be heading toward the next target at $112,000.
Titan of Crypto observed that Bitcoin is nearing a crucial mid-channel resistance level on the weekly chart. A breakout above this red mid-range line could pave the way for a move into the higher green target zone.
Crypto Mikey stated that with the holiday weekend approaching, this appears to be a good spot to hedge short on Bitcoin. He advises it is time to play it safe and enjoy the break.
Read Next:
Bitcoin, Ethereum, XRP Need Not Worry About Summer Blues As Long As This Critical Support Holds, Trader Says
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Reveal Full ScoreEdge RankingsMomentum95.96Price TrendShortMediumLongOverview$BONKBonk$0.0000174.76%$DOGEDogecoin$0.17171.72%$ETHEthereum$2582.080.42%$SHIBShiba Inu$0.0000120.42%$SOLSolana$151.61-0.49%$TIACelestia$1.612.35%$XRPRipple$2.281.85%Market News and Data brought to you by Benzinga APIs
