Crypto today: Bitcoin, Ethereum and XRP rallies grind to a halt as Ether ETF fails to push the altcoin higher
Source Fxstreet
- Bitcoin hovers around key support at $65,000, early on Thursday, institutional demand helps sustain recent gains.
- Ethereum suffers a correction, dips to $3,100 on July 25, despite optimism surrounding ETF approval by the regulator.
- XRP sustains above psychologically important $0.60 level.
Bitcoin, Ethereum and XRP updates
- Bitcoin is trading at $66,198 at the time of writing, sustaining above key support at $65,000. As Bitcoin supply on exchanges shrinks, the asset has room for extending gains further. Combined with steady institutional demand, Bitcoin has bullish potential in July. Bitcoin price struggles at $64,000 amid positive exchange inflow and Mt. Gox transfer concerns
- Ethereum suffered a steep correction that pushed the altcoin closer to $3,000 support. The altcoin failed to recover from its decline despite the optimism surrounding the Spot Ethereum ETF by the Securities & Exchange Commission (SEC). Crypto Today: Mt.Gox concern dissipates as Bitcoin holds steady, XRP rallies, Ethereum is the underdog
- Ripple and SEC have a closed-doors meeting scheduled for July 25. The cross border payment remittance firm could see a resolution of the lawsuit soon. XRP hovers around $0.62, above key psychological support. Ripple lawsuit to move forward with closed-door meeting on July 25, XRP hovers around $0.62
Chart of the day
OP/USDT daily chart
Optimism (OP) could sweep liquidity in the Fair Value Gap (FVG) between $1.532 and $1.581 before resuming a rally towards the lower boundary of the FVG at $2.274. A correction in Optimism is likely since the momentum indicator Moving Average Convergence Divergence (MACD) signals waning positive momentum in Optimism’s price trend.
The green histogram bars are consecutively smaller and closer to the neutral line, as seen in the OP/USDT daily chart.
Market updates
- Santiment data shows that Synthetix.io (SNX), dYdX (DYDX), Osmosis Zone (OSMO) are the top DeFi related coins by notable development activity in the past 30 days.
Here are crypto's top DeFi-related coins by notable development activity in the past 30 days.
— Santiment (@santimentfeed) July 24, 2024
Directional indicators represent each project's ranking rise or fall since last month:
1) @synthetix_io $SNX
2) @dydx $DYDX
➡️ 3) @osmosiszone $OSMO
➡️ 4)… pic.twitter.com/aPT9GiYlfZ
- Shibarium, Shiba Inu’s Layer 2 partnered with BadIdea AI to enhance their bridge for cryptocurrencies. The project integrates AI with blockchain to secure addresses and improve user experience for Shiba Inu users.
- In Q2 the $450 million Metis Layer 2 project fund supported the launch of the Liquid Staking Blitz. The fund brough Artemis and Enkin, two other projects into the fold, per Messari Research.
Industry updates
- Russian lawmakers passed a bill legalizing Bitcoin mining, and acceptance of crypto payments for international trade.
- Solana and NEAR protocol are connected via a bridge that went live early on July 25.
The first bridge connecting @solana & NEAR Protocol is live
— NEAR Protocol (@NEARProtocol) July 25, 2024
Explore all that NEAR has to offer without ever leveraging centralized services.
Powered by @wormhole. Built by @crownyio. https://t.co/Jq7LSzC788
- Fireblocks announced the launch of a Web3 startup toolkit, on July 25.
Disclaimer: For information purposes only. Past performance is not indicative of future results.
Recommended Articles
Gold price (XAU/USD) rebounds from a nearly one-month low to around $4,385 during the early Asian session on Thursday. The precious metal edges higher as the US Dollar (USD) and Treasury yields retreat from recent highs.
Bitcoin (BTC), Ethereum (ETH) and Ripple (XRP) extend their weekly gains on Friday as traders await the US Nonfarm Payrolls (NFP) report for the next directional catalyst.
Japanese Yen rallies to February 18 high as upbeat wage data and GDP lift BoJ hike betsThe USD/JPY pair declines for the second straight day – also marking the fourth day of a fall in the previous five – and sinks to its lowest level since February 18, around mid-153.00s during the Asian session on Tuesday.
The USD/JPY pair declines for the second straight day – also marking the fourth day of a fall in the previous five – and sinks to its lowest level since February 18, around mid-153.00s during the Asian session on Tuesday.
Gold slumps to near $4,350 amid oil-driven inflation fears, US inflation data in focusGold price (XAU/USD) falls to near $4,350 during the early Asian session on Wednesday. The precious metal faces some selling pressure as rising oil prices fueled inflation concerns and boosted expectations for a rate hike by the Federal Reserve (Fed) in September.
Gold price (XAU/USD) falls to near $4,350 during the early Asian session on Wednesday. The precious metal faces some selling pressure as rising oil prices fueled inflation concerns and boosted expectations for a rate hike by the Federal Reserve (Fed) in September.
US dollar clings to nine-week lows near 98.4 as Brent nears $100 and the yen hits a seven-month high — five events to watch todayThe dollar is pinned near nine-week lows even after a blockbuster jobs report, as an oil spike toward $100, a surging yen and China's reflation data crowd the driver's seat. Five key events to watch today: Brent at $99.46, USD/JPY at 154, China CPI/PPI, PBOC gold buying, and Thursday's PPI / Friday's CPI ahead of the September 15-16 FOMC.
The dollar is pinned near nine-week lows even after a blockbuster jobs report, as an oil spike toward $100, a surging yen and China's reflation data crowd the driver's seat. Five key events to watch today: Brent at $99.46, USD/JPY at 154, China CPI/PPI, PBOC gold buying, and Thursday's PPI / Friday's CPI ahead of the September 15-16 FOMC.
