Askew penned his thoughts in a recent post, stating, “The Bitcoin market now seems to be divided into two different eras—before and after the introduction of the ETF.” His charts displayed a significant decrease in price volatility post the launch of the Bitcoin ETF in the US in January 2024.

He further elaborated that Bitcoin is likely to reach $1 million in the next decade through a steady cycle of ‘pump and consolidate’ rather than massive jumps or falls. This process, though less exciting, is likely to weed out short-term investors.

Eric Balchunas, a Senior ETF Analyst at Bloomberg, agreed to a certain extent, asserting that this reduced volatility is beneficial as it draws in larger investors and gives Bitcoin a stronger opportunity to be embraced as a currency. However, the downside is the potential disappearance of skyrocketing price jumps or “God Candles,” as Balchunas termed it.

While the impact of Bitcoin ETFs on market trends is still under discussion, it’s evident that these financial instruments are bridging the gap between traditional finance, institutional investors, and digital asset markets. This also affects the rotation of funds into altcoins, a common occurrence in previous market cycles.

In July, the net inflows to Bitcoin ETFs surpassed $50 billion, although this influx of capital did not reflect in increased on-chain activity. Many retail investors are opting for Bitcoin ETFs to gain exposure via traditional financial instruments managed by fund managers or other financial fiduciaries, rather than holding BTC directly.

This growing demand for paper BTC and products like BlockRock’s Bitcoin ETF has led to the asset manager holding 3% of Bitcoin’s total supply, sparking concerns regarding centralization among some market commentators.

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Burns’ argument hinges on Dogecoin’s tokenomics. With a fixed issuance of 10,000 DOGE per one-minute block, or approximately 5.2 billion DOGE annually, the current inflation rate stands at about 3.3% against a circulating supply of 150 billion. According to Burns, this structure ensures miners’ incentives, compensates for lost coins, and prevents sudden “supply shocks” that Bitcoin’s four-year halving cycle can trigger.

“The beauty of Dogecoin lies in its inflation rate,” Burns stated, dubbing it a superior currency to Bitcoin due to its predictability. He contended that as Bitcoin’s issuance continues to decline, forecasted to drop below 0.5% after the 2028 halving, the network will increasingly depend on transaction fees to motivate miners.

Burns also concluded that Dogecoin’s governance is less susceptible to manipulation by large institutional or governmental entities accumulating Bitcoin. He described Dogecoin as “the people’s currency,” with its code difficult to alter, therefore limiting economic dilution.

Besides economics, Burns spent considerable time discussing “crypto astrology.” He suggested that Dogecoin’s genesis block currently falls under remarkably positive transits, including Pluto’s once-in-250-years conjunction with Dogecoin’s natal Moon, and an upcoming Jupiter return. These factors, Burns claims, typically correspond to periods of visibility, capital influx, and wealth symbolism.

He further proposed that a Dogecoin exchange-traded fund “will get approved,” bringing the cryptocurrency into the limelight. Despite the lack of concrete proof, Burns remained confident in his projection. He also noted Dogecoin’s relative stability compared to altcoins that have reverted to previous ranges, suggesting that this resilience supports his thesis.

Summing up his perspective, Burns repeated his belief in the “inevitability of Dogecoin reaching $1,” describing this as his ultimate target for the upcoming cycle. The timeline, he suggested, depends on the interplay between tokenomics-driven accumulation and the unfolding of the astrological transits he monitors.

As of the time this article was written, DOGE was trading at $0.23.

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In a CryptoQuant Quicktake post by Chairman Lee, it was highlighted that BTC exchange reserves have seen a notable increase since the end of June. This sudden rise indicates a surge in profit-taking actions, which may pressure BTC in the immediate future.

Large holders and miners have also been actively increasing their deposits from July 18th onwards. Yet, the overall inflows to centralized exchanges are still comparatively low when matched with the figures seen during major market peaks earlier this year.

Meanwhile, the Unspent Transaction Output (UTXO) count is on a downward trajectory, often interpreted as a signal of long-term accumulation. Investors seem to be pooling their coins, reducing active transactions and demonstrating strong confidence in Bitcoin’s future potential.

The declining UTXO count typically indicates less short-term selling pressure as holders transfer BTC into fewer wallets rather than trading them. This pattern is usually associated with a bullish market outlook.

Chairman Lee also noted that institutional and exchange-traded fund (ETF) flows remain strong. Almost $50 billion has been invested into Bitcoin-related products Year-to-Date (YTD), despite temporary hold-ups due to profit-taking.

From a technical perspective, Chairman Lee underlined the $116,400 area as the immediate support zone for BTC. The analyst warned that a fall below this level could prompt a correction towards $112K–$110K. However, if Bitcoin maintains above the $116K mark, it could pave the way for a surge towards $124K–$130K.

The analyst emphasized that as long as Bitcoin manages to defend the $110,000 level, the overarching bullish trend will persist. Furthermore, if ETF and institutional inflows continue to accelerate, BTC could potentially reach the ambitious $180,000 target by year-end.

However, some warning signs are starting to appear. On-chain data suggests that long-term holders are boosting distribution, while short-term investors are joining the market in anticipation of further gains – a trend that has historically signaled local tops.

On the flip side, the Bitcoin short-term holder Market Value to Realized Value (MVRV) indicates there may still be potential for further BTC price growth. At the time of writing, BTC is trading at $119,241, up by 0.9% in the past 24 hours.

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PlanD, a renowned market analyst, has shared his insights on the unfolding altseason. He identifies three key markers that would signify the onset of an altseason.

Firstly, he suggests that a healthy pullback in both Bitcoin and Ethereum could be an early indication. Specifically, retracements to the $111,000 and $3,250 regions for Bitcoin and Ethereum respectively, could trigger capital rotation from Bitcoin to altcoins, thereby lowering Bitcoin dominance (BTC.D).

PlanD asserts that such a circumstance, far from being a sign of weakness, could potentially accelerate the wider crypto market’s growth. Specifically, if Ethereum manages to find support at $3,250, it could lead to the strengthening of the ETH/BTC pair, which often precedes altcoin overperformance.

The third and most crucial signal, according to PlanD, lies in Bitcoin dominance. He notes that BTC.D has recently broken below its long-held support trendline, suggesting a potential shift in the market structure. A key test will be at the 63.40% dominance level. If BTC.D fails to reclaim this level, it could signal the beginning of a new downtrend in dominance, marking the start of altseason.

In such a scenario, PlanD anticipates strong bullish momentum in tokens associated with sectors like Real-World Assets (RWA), Artificial Intelligence (AI), and gaming, beyond the major and mid-cap tokens on popular blockchain platforms.

As of now, the total crypto market cap stands at $3.83 trillion, with a slight decline of 0.20% recorded in the last 24 hours. CoinMarketCap data shows the Fear & Greed index at 69, indicating a substantial risk appetite among investors, while the altseason index is at 42, suggesting a growing market preference for altcoins.

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XRP’s Anticipated Multi-Stage Price Surge

Since the start of the month, XRP has experienced an intriguing price rally, beginning with a breakout from its long-standing consolidation below $2.2 on July 5. This was followed by a series of inflows, in line with the rest of the crypto market, as Bitcoin ventured into new price zones above $120,000.

Despite Bitcoin peaking at $122,800 on July 14 and subsequently entering a correction phase below $120,000, the altcoin has managed to maintain its gains beyond July 14. This divergence from Bitcoin’s trajectory commenced following the SEC’s approval of ProShares’ XRP ETFs; this event played a significant role in pushing XRP to a new all-time high of $3.65 within the last 24 hours and helped its market cap surpass the $200 billion mark.

Now, XRP’s price is operating in uncharted territory, with the next target for bulls being $4. BarriC’s analysis starts with a short-term target of $4 for XRP, a figure that has been on the radar of optimistic analysts for weeks. From this point, BarriC foresees a swift escalation into double digits, predicting a range between $10 and $20.

Even though BarriC’s forecast lacks technical analysis on XRP’s price movement, the truly eye-catching aspect is his final projection: a “clear path” catapulting XRP beyond the $100 threshold and ultimately, towards a $1,000 valuation.

$1,000 XRP: Feasible Route or Fantasy?

The prospect of XRP hitting $1,000 has been a topic of discussion previously, but it remains a contentious issue. To reach triple-digit figures, its market capitalization would need to surpass $50 trillion, which is more than twice the value of the world’s most valuable public companies combined.

At the core of BarriC’s $1,000 XRP price prediction is the conviction that its utility in cross-border payments and banking infrastructure will boost its long-term worth. A $1,000 XRP becomes plausible only when widespread institutional adoption from banks transforms transactional demand into structural demand.

However, price targets of $10 and $100 in the upcoming years are still viable, considering the current fundamentals of the altcoin and the XRP Ledger. The initial step is breaking above $4, achievable only if XRP manages to solidify $3 as its new base price moving forward.

As of writing, XRP is trading at $3.44, an increase of 22% over the past seven days.

Featured image from Pexels, chart from TradingView

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Bitcoin’s price is demonstrating unprecedented resilience as it continues its skyrocketing trend beyond the $123,000 mark. The predictions by crypto analyst Mr. Wall Street suggest a new short-term target of between $135,000 and $140,000.

According to the analyst’s chart report, BTC has convincingly emerged out of a Broadening Wedge pattern after nearly two months of consolidation between a descending support and horizontal resistance. This significant breakout above the $112,000 resistance confirms the analyst’s previous bullish predictions.

Initially, the analyst proposed two potential scenarios: A surge above $112,000 leading straight to a rally between $117,000 and $120,000, or a slight dip to $92,000 to fill the CME gap before continuing its upward trajectory. Recent price movements show that Bitcoin has opted for the first scenario, highlighting its robust bullish momentum and indicating that short-term Fear, Uncertainty, and Doubt (FUD) have had minimal impact. With the second scenario no longer a possibility, BTC’s price trajectory appears to be clearer and higher.

The recent surge beyond $123,000 has also brought attention to the next major liquidity pool between $135,000 and $140,000. The chart indicates that reaching this zone would result in the liquidation of over $45 billion in short positions, with the next target zone between $160,000 and $170,000 potentially causing another $70 billion in short liquidations.

Mr. Wall Street’s bullish outlook for Bitcoin is further reinforced by macroeconomic factors and key chart indicators. The analyst highlighted the recent approval by US President Donald Trump of a bill to raise the country’s debt ceiling—a move that indicates accelerated debt growth. This is expected to expand the M2 money supply, which historically has a positive correlation with the rising prices of assets like Bitcoin.

Furthermore, Bitcoin’s Moving Average Convergence Divergence (MACD) remains solid across all time frames, and the Market Value to Realized Value (MVRV) ratio is still well below historic top levels. The Relative Strength Index (RSI) has yet to enter overbought territory, confirming that Bitcoin is far from a macro top and making the $135,000 to $140,000 range a plausible target.

In the future, Mr. Wall Street emphasizes that Bitcoin has entered a supercycle—a phase characterized by price discovery. Despite the possibility of a short-term retest of the $112,000 level before continuing upward, the analyst insists that, regardless of minor setbacks, the price action from this point is likely to be swift and assertive.

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In an analysis shared on the X social media platform, renowned market specialist Daan Crypto Trades points out that Ethereum’s price continues to oscillate within a well-established price corridor, presently sustaining above the $2,500 mark at $2,527. He highlights $2,800 as the crucial breakout figure that could ignite an Ethereum bull rally.

The analyst shared a chart demonstrating that Ethereum is confined between a “range low” of $2,313 and a high of $2,736, having made several unsuccessful attempts to escape this restrictive structure. The chart also indicates that the mid-range level of approximately $2,519 has become a vital point of control.

Despite a temporary rally that propelled Ethereum above $2,570 earlier this week, the cryptocurrency couldn’t maintain its upward trajectory, dropping below the $2,519 figure before bouncing back to its current price around $2,527. Daan Crypto Trades explains that Ethereum’s sluggish performance is due to its ongoing struggle to gain a firm foothold in the $2,500 price region. Given the apparent price imbalance in this region, the analyst advises traders to proceed with caution.

In this price range, traders could confront heightened price volatility and potential fakeouts, both above and below the critical support and resistance levels. Daan Crypto Trades suggests that until Ethereum firmly breaches and sustains above the $2,800 level, traders may see more lateral movement and unpredictable price fluctuations. A clean breakout over $2,800 could mark the beginning of a bullish trend, enhancing conditions for Ethereum and lifting it from its ongoing downtrend.

Another market expert, Mister Crypto, in a recent post on X, stated that Ethereum is poised to exit a lengthy multi-year consolidation phase. His chart visualizes two key periods – a potent 48x rally from 2018 through 2021 and a four-year horizontal consolidation range that extends from the 2021 peak until now. This extended phase of range-bound movement could precede a potentially explosive bull trend, similar to past breakouts. Along these lines, Mister Crypto marks a considerable open-ended “??X” label on his chart, suggesting an imminent breakout phase, though the exact scale remains speculative.

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Recent market trends have been in favor of bulls, but Solana’s failure to cross the $160 mark casts doubt on this trend’s robustness. Renowned analyst Carl Runefelt highlighted that Solana is currently moving within a rising channel pattern. While this pattern typically indicates a bullish market, a failure in support could lead to a fall to lower demand zones, making the coming days crucial for SOL’s direction.

As the macroeconomic landscape improves and Bitcoin teases new record highs, it is anticipated that Solana will follow suit. However, technical indicators urge caution. A fall below the rising channel might target the $128.50 support area, whereas a successful surge above $160 could open the path to rechallenging local highs. Both traders and investors are keenly observing Solana’s next move in this high-stakes consolidation phase.

At present, Solana’s price is below the $150 mark, reflecting a significant 20% drop from its local peak in May. Despite this, the asset maintains robust support, indicating that bullish sentiment is still present. The broader market continues to be in a consolidation phase, with Solana demonstrating signs of uncertainty as it moves sideways within a narrowing price band.

Analysts remain cautiously optimistic, noting that a breakthrough above the key $150–$160 supply area could ignite renewed upward momentum. However, the current pricing structure suggests Solana might not be ready to challenge its previous highs. Runefelt mentions that Solana’s movement within a rising channel could lead to sharp price fluctuations if broken.

While rising channels can support bullish continuation, a breakdown below the lower trendline often leads to accelerated downward movements. Runefelt alerts that if Solana falls below the channel, the next significant support area is around $128.50. This level has historically served as a powerful demand zone and could be the next target if a bearish move occurs.

In the meantime, Solana’s consolidation mirrors broader market ambiguity, with traders awaiting a clear breakout or breakdown to inform their positions. A successful reclaim of the $150 level would enhance sentiment considerably, potentially paving the way for a push towards the $170–$180 range. Conversely, the inability to maintain above current levels may shift the narrative towards further downside risk.

Solana (SOL) is trading at $147.62, moving sideways within a tightening range and forming a potential rising channel pattern. The daily chart shows that SOL has been unable to decisively break above the $155–$160 resistance area, while robust support remains near the $140 level. Price activity shows repeated rejections near the 100-day moving average (blue line), which now acts as dynamic resistance around $155.60. The 200-day moving average (red) is further above at $165.54, marking a long-term resistance area.

Volume remains relatively low compared to the spikes seen in early June, suggesting market participants are awaiting a clear breakout direction. A push above $160 would likely stimulate bullish momentum, potentially opening the door towards the $170 level. However, the rising channel identified by analysts suggests a potential downside risk if the lower trendline is breached.

If Solana falls below the $145 support and exits the channel, the next target would be the $128.50 area, which previously served as a demand zone in mid-May. Until then, bulls must defend current levels and aim to reclaim the 100-day SMA to maintain the broader recovery structure. The coming sessions may offer clarity as consolidation nears its resolution.

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“The Bitcoin treasury approach may have a shorter shelf life than many anticipate,” Check shared on a recent post. He further indicated that for numerous late entrants, “it might already be over,” emphasizing the importance of a sustainable product and strategy for long-term Bitcoin (BTC) accumulation rather than a race for size.

Check expressed concerns about the increasing struggle for new Bitcoin treasury companies to gain traction, as investors seem to prefer early birds in the sector. “The 50th Treasury company is not what anyone wants,” stated Check.

As per the data from BitcoinTreasuries, up to Friday, at least 21 entities adopted Bitcoin as a reserve asset in the last 30 days. The largest public Bitcoin treasury, spearheaded by Michael Saylor (MSTR), possesses 597,325 BTC, while MARA Holdings, in the second position, owns 50,000 BTC, roughly a tenth of MSTR’s holding.

While new Bitcoin treasury firms may draw in retail speculators, Check cautions that these firms don’t have “infinite money.” He noted that despite his bullish stance on Bitcoin’s price, which is currently trading around $107,990, the future seems uncertain for newer firms.

Check concurred with Udi Wizardheimer, co-founder of Taproot Wizards, that some companies might misuse the Bitcoin treasury strategy for fast earnings without appreciating its long-term goals. “Many raising funds see easy money but lack understanding of what they are getting into,” Wizardheimer remarked.

Recently, questions have arisen regarding companies adopting the Bitcoin treasury strategy. A report by venture capital firm Breed on June 29 suggested that only a handful of Bitcoin treasury firms will survive the harsh “death spiral” affecting BTC holding companies trading near their net asset value (NAV).

Fakhul Miah, managing director of GoMining Institutional, voiced his concern about “the copycats” in a conversation with Cointelegraph. He warned about companies attempting to establish Bitcoin banks without adequate protections or risk management, stating that if these smaller firms falter, Bitcoin’s reputation could suffer a blow.

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Trader Tardigrade announced in a post on July 1 that Dogecoin’s price has managed to break through a crucial 50-day descending trendline. This development indicates a potential onset of a strong upward price movement in the near future. Dogecoin’s trendline breakout signifies a major shift in momentum, given the meme coin’s consistent downtrend in recent weeks. Presently, Dogecoin is trading at approximately $0.17, reflecting an almost 10% drop in the past month, data from CoinMarketCap reveals.

The end of this market downturn appears to be in sight. Trader Tardigrade points out early signs of a bullish reversal pattern in DOGE’s microstructure. The analyst’s price chart shows that Dogecoin formed a higher low and a subsequent higher high after breaking the long-standing trendline. A second higher low was recently established, suggesting a new uptrend might be commencing. This pattern, characterized by higher lows and highs, is often an early indicator of buyers regaining market control.

The breakout is particularly significant as it follows a period of lower lows and highs, with the 50-day trendline serving as a formidable resistance barrier. With this barrier now overcome and bullish market signs emerging, Trader Tardigrade is increasingly confident about Dogecoin’s short-term outlook. If the trend continues, it could indicate the beginning of a prolonged rally for the meme coin.

In a separate analysis, market expert Kaleo suggested that Dogecoin’s current price below $0.20 offers a robust accumulation opportunity. Backing his statement with a chart, Kaleo theorized that Dogecoin could be on the brink of a major breakout, with possible targets of $1.5 or even beyond $3.5. His analysis draws parallels between Dogecoin’s current market structure and the 2020 breakout that initiated the meme coin’s remarkable bull run.

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