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Bitcoin dominance nears historic resistance, a level that previously triggered altcoin surges. A breakout or rejection is imminent. If history repeats, dominance rejection could fuel an altseason, shifting market sentiment toward alternative cryptocurrencies. A decisive move past resistance may signal continued Bitcoin strength, while failure could mark the start of another altcoin cycle.
Ali Martinez highlighted XRP forming a striking symmetrical triangle chart with a target of $15. XRP is currently attempting to flip the $2.75 price level into support before moving higher. Bloomberg analyst said that the SEC could acknowledge the Grayscale 19b-4 for a spot XRP ETF.
Bitcoin’s resilience suggests a changing view of inflation’s impact on digital assets. U.S. inflation exceeds forecasts, delaying Federal Reserve rate cut expectations. Powell signals cautious Fed stance as inflation concerns persist despite progress.
- 06:22ING: The EU Still Has Time to Reach a Trade Agreement with the USAccording to a report by Jinse Finance, as EU leaders prepare to respond to Trump's threat of imposing a 30% tariff on European imports, ING economists Carsten Brzeski and Inga Fechner wrote: "In a letter to Ursula von der Leyen last weekend, Trump stated that the tariffs would take effect on August 1. Three weeks is a long time." They noted that it is appropriate for the EU to wait until this final deadline before taking countermeasures against U.S. imports such as steel. They told investors that the current situation "still leaves significant room for negotiation." "We can only reiterate our previous view that there are no winners in a trade war, only losers." (Jinshi)
- 06:17Analyst: Bitcoin Rises on Concerns Over U.S. Fiscal Deficit, Not SpeculationAccording to a report by Jinse Finance, Bitcoin is being positioned as a primary defensive tool against the impending U.S. financial crisis, standing alongside gold, and is likely one of the main driving forces behind its current surge, according to an analyst. On Monday, Bitcoin broke through $121,000 to reach a new high, but Markus Thielen, Head of Research at 10x, pointed out in a report shared with Cointelegraph: “This rally is not driven by hype, but by deeper underlying factors.” Thielen stated that Bitcoin has shifted from a tech story to a macro asset, specifically serving as a hedge against U.S. fiscal irresponsibility. “The narrative has completely changed: no one is talking about blockchain use cases or Bitcoin’s technological potential anymore,” Thielen added. “Bitcoin has evolved into a macro asset, a hedge against reckless deficit spending.”
- 06:17Bitget launches trading lottery event with a top prize of 0.1 BTCAccording to ChainCatcher, to celebrate Bitcoin reaching a new all-time high, Bitget has launched a trading lottery event open to both new and existing users. During the event, users who complete the required contract trading volume tasks will earn a certain number of lottery chances, with a maximum of three draws per person. Each additional draw increases the chance of winning a grand prize, with a single draw offering up to 0.1 BTC. Before participating, users must click the "Register" button on the event page to complete their registration. The prize pool for this event includes 0.1 BTC and contract trial funds ranging from 58 to 1,000 USDT. The event will be open from July 14, 11:00:00 to July 21, 11:00:00 (UTC+8).