Bitcoin continues to show impressive strength by defending its 200-week moving average for another weekly close, reinforcing the long-term bullish structure despite ongoing macro uncertainty. Historically, this moving average has acted as one of Bitcoin’s strongest long-term support levels, and once again buyers have stepped in to defend it. While some analysts still expect a short-term move toward the $67K region before the next leg higher, the overall technical picture remains constructive. As long as Bitcoin continues holding above this long-term trend line, the broader market structure favors accumulation rather than a continuation of the previous downtrend. Macro conditions remain the biggest driver of short-term price action. Rising tensions between the US and Iran have pushed oil prices to their highest level in five weeks, increasing uncertainty across global financial markets ahead of a busy corporate earnings season. Despite these headwinds, Bitcoin has remained relatively stable, showing resilience compared to previous periods of geopolitical stress. This suggests that investors continue to view Bitcoin as a long-term asset worth holding, even as traditional markets react to global uncertainty.
On-chain data is sending mixed but encouraging signals. Spot demand has cooled following the strong recovery seen earlier in July, indicating that immediate buying pressure has eased. However, institutional interest remains healthy, with Bitcoin ETFs continuing to attract steady inflows. At the same time, the Puell Multiple has started trending higher, suggesting that miner profitability is gradually improving after a difficult period. While this does not yet confirm a full market bottom, it does indicate that conditions are becoming more supportive for long-term recovery. Overall sentiment across the crypto market has also improved to its strongest level since early June, showing that investor confidence is gradually returning as Bitcoin attempts to lead the next phase of the market cycle.
Security remains one of the industry’s ongoing challenges. Allbridge temporarily paused its Allbridge Core protocol after suffering a security breach that resulted in approximately $1.65 million being drained from its Solana deployment. The attacker quickly bridged the stolen assets from Solana to Ethereum before moving funds into privacy tools. This incident marks yet another reminder that cross-chain bridges remain one of the most frequently targeted areas within decentralized finance due to the large amounts of liquidity they manage.
Within the Bitcoin ecosystem, protocol governance has once again become a major topic of discussion.
Michael Saylor publicly opposed Bitcoin Improvement Proposal 110 (BIP-110), arguing that introducing restrictions on non-monetary transactions could undermine Bitcoin’s principles of neutrality and permissionless innovation. The debate has become one of the most significant protocol discussions since the Blocksize Wars, highlighting the ongoing balance between network efficiency and maintaining Bitcoin’s open architecture.
Meanwhile, regulatory progress in the United States remains slower than many expected. Federal agencies missed the rulemaking deadline established under the GENIUS Act, leaving several important stablecoin regulations unfinished. Although the legislation itself remains in force, the lack of finalized guidance creates ongoing uncertainty for stablecoin issuers and digital asset companies operating in the US. Market participants will now be watching closely for further regulatory clarity over the coming months.
The recovery of the FTX bankruptcy estate continues to provide some positive news for former users. The FTX Recovery Trust announced another round of repayments, bringing total distributions to approximately $10 billion since the exchange collapsed in 2022. While the bankruptcy remains one of the largest failures in crypto history, the continued reimbursement process helps restore confidence that legal and restructuring frameworks within the industry are becoming more effective at protecting creditors.
Bitcoin continues to hold one of its most important long-term technical support levels, keeping the broader market structure firmly intact. The ability to defend the 200-week moving average remains a positive signal for long-term investors. Short-term volatility is still likely as macro events continue to influence risk sentiment across global markets. ETF inflows show that institutional demand remains healthy even as spot buying temporarily slows. Improving miner profitability is another constructive signal that supports a gradual market recovery. Geopolitical developments will remain an important catalyst for price action in the weeks ahead. Regulatory uncertainty continues to create short-term hesitation, particularly around stablecoins, but overall adoption trends remain positive. Security risks within DeFi remain an area that requires continued attention as cross-chain protocols become more widely used. Market sentiment has improved noticeably over recent weeks, suggesting confidence is slowly returning after months of uncertainty. If Bitcoin continues holding key support while institutional inflows remain strong, the market could be preparing for the next sustained leg higher once macro conditions become more favorable.
Bitcoin is attempting to regain momentum after defending the $63,000 support zone, with buyers gradually pushing price back toward the 50-day EMA near $65,000. The recovery has improved the short-term structure, but bulls still need a decisive close above the 50-day EMA to confirm that the recent correction is losing strength. The 20-day EMA has started to flatten, while the RSI has recovered above the neutral 50 level, suggesting bearish momentum is fading and buyers are slowly regaining control. If BTC breaks and closes above $65,000, the next resistance levels to watch are $67,800 and then the psychological $70,000 barrier. A move above these levels could trigger fresh momentum buying and encourage sidelined traders to re-enter the market. However, if Bitcoin fails near the 50-day EMA and slips back below $63,000, sellers may attempt another move toward the $60,000 support zone. For now, Bitcoin remains constructive, but confirmation above resistance is still required before the broader uptrend resumes.
Ethereum continues to hold firmly above the key $1,800 support level, showing that buyers remain active despite recent market volatility. Bulls are now attempting to reclaim the $1,900 resistance area, which aligns closely with the 50-day EMA. The 20-day EMA has begun turning higher, while RSI continues to strengthen above the midpoint, indicating improving momentum. A sustained move above $1,900 could open the door for a rally toward $2,000 and potentially $2,120 if buying volume increases. On the downside, failure to hold above $1,800 would likely invite renewed selling pressure, exposing support near $1,700. Ethereum continues to build a stronger technical structure, but it still requires a confirmed breakout before traders become aggressively bullish.
BNB continues to outperform many large-cap cryptocurrencies by maintaining its consolidation above the major support zone around $570. Buyers have consistently defended this area, while sellers continue to cap rallies near the $600-$605 region. The flattening 20-day EMA and improving RSI suggest selling pressure is easing and momentum is gradually shifting back toward the bulls. If BNB closes above the 50-day SMA near $604, traders may look for a move toward $635, followed by the stronger resistance around $670. Conversely, losing $570 would weaken the current recovery and could expose the psychological $550 support level. Overall, BNB remains one of the stronger charts among the major altcoins.
XRP continues to defend the important $1.09 support level, keeping its short-term recovery structure intact despite repeated rejection near resistance. Buyers have successfully absorbed selling pressure around current levels, but the asset still needs to reclaim the $1.20-$1.25 region before momentum shifts decisively in favour of the bulls. The 20-day EMA is flattening, and RSI is gradually improving, reflecting growing buying interest after several weeks of consolidation. If XRP breaks above nearby resistance, traders could target the descending trendline followed by the $1.40 region. However, a break below $1.09 would invalidate the current recovery attempt and expose the next support near $1.00. XRP remains a breakout candidate but still requires confirmation before attracting stronger momentum traders.
Solana continues to trade inside a broad consolidation range after successfully defending support near the low $70 region. Buyers have prevented a deeper correction, while sellers continue protecting the overhead resistance around $80-$82. The 20-day EMA is flattening, indicating that supply and demand are gradually returning to balance, while RSI has recovered from oversold territory, suggesting downside momentum is fading. A breakout above $82 would likely trigger renewed buying interest and could push SOL toward the next resistance around $90. On the downside, losing the $70 support would increase the risk of another decline toward the mid-$60 region. Solana continues to build a constructive base, but traders are waiting for a decisive breakout before committing to larger positions.
Bitcoin continues to lead the market, and its ability to reclaim the 50-day EMA near $65,000 will likely determine the next major move across the crypto sector. A successful breakout above this level could improve sentiment quickly and encourage stronger buying across large-cap altcoins. Ethereum is showing improving relative strength after defending the $1,800 support zone, but traders should wait for a confirmed move above $1,900 before expecting a larger rally. BNB remains one of the strongest technical charts, and a close above $604 would strengthen the bullish outlook and shift attention toward the $635-$670 resistance zone. XRP continues to build a recovery above $1.09, but it still needs to reclaim higher resistance before confirming a trend reversal. Solana remains in consolidation, and a breakout above $82 would likely trigger fresh momentum buying toward $90. The overall market structure is improving as momentum indicators recover and selling pressure begins to ease. However, most major cryptocurrencies are still trading below key longer-term resistance levels, meaning confirmation remains essential. Traders should remain patient, avoid chasing rallies into resistance, and wait for breakout confirmation supported by strong volume. If Bitcoin establishes itself above the 50-day EMA, the broader cryptocurrency market could enter a stronger recovery phase, with altcoins likely to outperform as confidence returns.
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