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.
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Get the latest gold price analysis, forex gold insights, and XAU/USD analysis for November 11, 2026. Read on for the details.
Bitcoin lost its 200-day average — but the exit started three sessions before the CPIBitcoin fell 2.5% to about $73,400 on 11 November, an 11-week low, breaking its 200-day moving average near $73,100. The 24-hour liquidation tally reached $632 to $705 million, roughly 82% of it longs. But spot ETF outflows began three sessions earlier and USDT's market cap has shrunk $6.6 billion in 60 days — the leveraged length left before the inflation print did. A double top at 81,890 and 81,080 leaves a measured target of 69,366.
Bitcoin fell 2.5% to about $73,400 on 11 November, an 11-week low, breaking its 200-day moving average near $73,100. The 24-hour liquidation tally reached $632 to $705 million, roughly 82% of it longs. But spot ETF outflows began three sessions earlier and USDT's market cap has shrunk $6.6 billion in 60 days — the leveraged length left before the inflation print did. A double top at 81,890 and 81,080 leaves a measured target of 69,366.
On November 12, gold prices (XAUUSD) extended their recent losses, falling further below $4,000 in early Asian trading to hit an intraday low near $3,968, marking a third consecutive day
Gold closed below $4,000 again — the ETF crowd and central banks stayed, the momentum money leftSpot gold is trading near $3,999, its third consecutive lower daily low, after a 5.00% 10-year yield and a 102.85 dollar index raised the odds of a December hike to 87%. But the selling is not coming from the strategic holders: managed-money net longs fell to 324 tonnes, a 21-week low, and Goldman Sachs attributes roughly 95% of five weeks of selling to non-reportable positions. ETFs still hold a record 4,256 tonnes and central banks bought 321 tonnes in Q3. The table below sets the triggers, directions and levels.
Spot gold is trading near $3,999, its third consecutive lower daily low, after a 5.00% 10-year yield and a 102.85 dollar index raised the odds of a December hike to 87%. But the selling is not coming from the strategic holders: managed-money net longs fell to 324 tonnes, a 21-week low, and Goldman Sachs attributes roughly 95% of five weeks of selling to non-reportable positions. ETFs still hold a record 4,256 tonnes and central banks bought 321 tonnes in Q3. The table below sets the triggers, directions and levels.
