Crypto Price Analysis 6-18: BITCOIN: BTC, ETHEREUM: ETH, SOLANA: SOL, UNISWAP: UNI, CELESTIA: TIA, BITTENSOR: TAO

The crypto market registered a substantial drop as markets turned bearish after Bitcoin (BTC) , and most cryptocurrencies retreated as geopolitical tensions intensified. The upcoming Federal Reserve interest rate decision also impacted market sentiment. BTC dipped to a low of $103,567 as selling pressure intensified. However, the flagship cryptocurrency has recovered to reclaim $105,000 and move to current levels. BTC is down nearly 2% over the past 24 hours, trading around $105,490. Meanwhile, Ethereum (ETH) is down nearly 2%, trading around $2,538 as it struggles to stay above $2,500. Ripple (XRP) is down over 3%, and Solana (SOL) fell below the $150 mark after dropping nearly 4%, trading around $148. Dogecoin (DOGE) is also trading in the red, with the price down 1.30%, while Cardano (ADA) is down 2.32%, trading around $0.618. Chainlink (LINK) , Stellar (XLM) , Toncoin (TON) , Litecoin (LTC) , Hedera (HBAR) , and Polkadot (DOT) also registered notable declines. Dow Jones Down As Swift End To Israel-Iran Conflict Ruled Out The Dow Jones and other US stock indices fell as hopes for a quick resolution to the Israel-Iran conflict faded. The Dow Jones fell 130 points on July 17, with healthcare firms leading the decline. Meanwhile, the S&P 500 dropped 0.44% and the tech-heavy Nasdaq lost 0.50%. The market downturn began after US President Donald Trump called for the evacuation of Iran’s capital, Tehran, signaling an escalation of the conflict. President Trump has taken a hardline stance on Iran’s nuclear disarmament instead of pushing for a ceasefire, a demand the country is likely to reject. Oil prices have also spiked 3%, with investors worried a prolonged conflict could impact the region’s oil production, supply, and trade. Israel has already attacked major oil facilities in Iran, with the latter considering a closure of the Strait of Hormuz. Market watchers believe a prolonged conflict could prompt the Federal Reserve to cut interest rates sooner than expected. BBVA Suggests Clients Make Crypto Allocations BBVA (Banco Bilbao Vizcaya Argentaria), Spain’s second-largest bank, has advised its affluent clients to invest in crypto. The bank told its clients to invest between 3% and 7% of their portfolio into crypto and Bitcoin (BTC) , depending on their desired risk exposure. Philippe Meyer, the head of digital and blockchain solutions at BBVA Switzerland, stated at a conference in London, “With private customers, since September last year, we started advising on Bitcoin.” He also stated that portfolio allocation has been increased to accommodate riskier profiles. Meyers claimed the bank’s clients have been receptive to its advice and dismissed concerns that BTC and other crypto assets were too risky. “If you look at a balanced portfolio, if you introduce 3%, you already boost the performance. At 3%, you are not taking a huge risk.” The bank’s push comes amid growing warnings from European Union regulators and its central bank about the risks involved in cryptocurrencies. 95% of banks operating in the European Union are avoiding crypto. Thailand To Exempt Capital Gains Tax On Crypto For Five Years Thailand has announced it will exempt capital gains taxes on cryptocurrency sales through locally licensed crypto asset service providers for five years. The Ministry of Finance confirmed the announcement on Tuesday, stating that capital gains taxes will be waived on crypto transactions between January 1, 2025, and December 31, 2029. The decision comes after Vietnam introduced legislation to define cryptocurrencies legally. The new legislation will come into effect on January 1, 2026. Thailand is not the first country to offer crypto investors a tax incentive. Several jurisdictions, including the Cayman Islands, British Virgin Islands, Vanuatu, and the Bahamas, already have zero capital gains tax on crypto. Singapore, Malaysia, and the UAE also impose zero capital gains tax on investors. Tax residents in European countries like Germany and Portugal can also avoid capital gains entirely if they hold their assets for a year. US Senate Passes GENIUS Act The US Senate passed the GENIUS Act, clearing the way for the creation of a regulatory framework for US dollar-pegged crypto-tokens known as stablecoins. The bill received bipartisan support, with several Democrats joining the Republicans to back the bill. As a result, it passed the Senate with a 68-30 vote. The bill must pass the House of Representatives before it heads to President Donald Trump for approval. Andrew Olmen, a managing partner at Mayer Brown, called the bill’s passage a major milestone, stating, “It is a major milestone. It establishes, for the first time, a regulatory regime for stablecoins, a rapidly developing financial product and industry.” If signed into law, the bill will mandate all stablecoins to be backed by liquid assets like the US Dollar and short-term Treasury Bills. Stablecoin issuers will also be required to disclose the composition of their reserves. Bitcoin (BTC) Price Analysis Bitcoin (BTC) has rebounded during the ongoing session, with the price up nearly 1%. The flagship cryptocurrency has reclaimed $105,000 after registering significant declines on Monday and Tuesday as market sentiment worsened thanks to escalating tensions in the Middle East. BTC saw a sharp drop on Monday as markets turned bearish after reports emerged that President Donald Trump had called his advisors to the Situation Room. Tensions in the Middle East have escalated further, with President Trump leaving the G7 summit early and requesting the National Security Council meet in the White House Situation Room. Trump posted a chilling message on Truth Social after leaving the G7 summit, asking everyone to evacuate Tehran. US Press Secretary Karoline Leavitt confirmed Trump’s departure due to the escalating Middle East conflict. “Much was accomplished, but because of what’s going on in the Middle East, President Trump will be leaving tonight after dinner with Heads of State.” Price action remained bearish on Tuesday as hopes of a quick resolution to the conflict evaporated. The Federal Reserve’s impending decision on rate cuts has also impacted investor sentiment. As a result, crypto liquidations have also surged by 25% in the past 24 hours to nearly $360 million. Markets were further spooked after two oil tankers collided and caught fire in the Strait of Hormuz, a critical area that sees millions of oil barrels pass daily. As a result, oil prices spiked, rising over 2%. Bitfinex analysts believe BTC must hold above $102,000 to stay on course for a potential rebound. According to the analysts, while BTC still risks falling further, if it stays above $102,000, it would suggest markets are absorbing the selling pressure effectively. However, downside risk lingers thanks to macroeconomic volatility and tensions between Israel and Iran. However, the market situation also presents investors with a high-stakes yet potentially rewarding opportunity for investors. Crypto trader Matthew Hyland stated on X, “This environment now reflects a high-risk, high-reward opportunity for upside continuation if buyer confidence returns.” Markets were optimistic about BTC testing its all-time high after it surged past $110,000 last week. However, those hopes were dashed after Israel carried out airstrikes on Iran. Meanwhile, spot Bitcoin ETFs continued to see strong inflows despite market uncertainty. BTC entered the previous weekend on a bullish note, surging nearly 3% to settle at $104,378. Buyers retained control over the weekend as the price rose $1.15% on Saturday and registered a marginal increase on Sunday to reclaim $105,000 and settle at $105,784. Bullish sentiment intensified on Monday as BTC surged over 4% to cross the 20-day SMA and $110,000 and settle at $110,251. The price fell to an intraday low of $108,335 on Tuesday but recovered to reclaim $110,000 and settle at $110,253. Sentiment turned negative on Wednesday as BTC fell 1.42%, slipping below $110,000 and settling at $108,687. Source: TradingView Bearish sentiment intensified on Thursday as BTC fell nearly 3%, slipping below the 20-day SMA and settling at $105,828. The price plunged to an intraday low of $102,832 on Friday. However, it rebounded from this level to cross $106,000 and settle at $106,106. Price action was mixed over the weekend as BTC dropped 0.59% on Saturday before registering a marginal increase on Sunday to settle at $105,562. BTC started the week positively as it raced to an intraday high of $108,944. However, sentiment changed as markets turned bearish. As a result, it dropped to settle at $106,806, ultimately registering an increase of 1.18%. Price action turned bearish on Tuesday as BTC fell over 2%, slipping below the 20-day SMA and $105,000 to $104,518. The current session sees BTC marginally up as buyers look to reclaim $105,000. Ethereum (ETH) Price Analysis Ethereum (ETH) remains sluggish as the week goes on, failing to establish itself above $2,600. ETH has traded primarily in the red since reaching a high of $2,878 on Wednesday. However, it lost momentum after reaching this level as sellers overwhelmed buyers. As a result, ETH plunged to a low of $2,441 by Friday before recovering to reclaim $2,500. The price rallied to a high of $2,680 on Monday, but sentiment flipped thanks to growing geopolitical tensions, pushing ETH to a low of $2,455 by Tuesday. Analysts believe mega-whales are reinforcing further downside pressure by selling their holdings. However, addresses holding between 1,000 and 10,000 ETH have steadily increased their holdings. CryptoQuant analysts believe ETH could recover if it decisively reclaims the 50-week exponential moving average (EMA). “The only thing holding ETH back.” ETH started the previous weekend with an increase of almost 3%, rising to $2,479. The price continued to push higher on Saturday, rising nearly 2% to cross $2,500 and settle at $2,525. Despite the positive sentiment, it was back in the red on Sunday, dropping 0.57% to end the weekend at $2,511. Bullish sentiment returned on Monday as ETH surged nearly 7%, crossing the 20 and 200-day SMAs and $2,600 to settle at $2,680. Buyers retained control on Tuesday as the price registered an increase of over 5% to cross $2,800 and settle at $2,816. ETH raced to an intraday high of $2,878 on Wednesday but lost momentum, dropping 1.56% to $2,772. Source: TradingView Bearish sentiment intensified on Thursday as ETH fell nearly 5%, slipping below $2,700 and the 200-day SMA and settling at $2,645. The price plunged to $2,441 on Friday as selling pressure persisted. However, it recovered to reclaim $2,500 and settle at $2,579, ultimately registering a drop of 2.49%. Price action remained bearish on Saturday, dropping 1.84% to $2,532. ETH recovered on Sunday to register a marginal increase and settle at $2,548. The price raced to an intraday high of $2,680 on Monday but lost momentum as market sentiment worsened. As a result, it dropped to $2,544, registering a marginal increase. The price faced selling pressure and volatility on Tuesday, falling 1.30% to $2,511. The current session sees ETH up nearly 1%, trading around $2,535. Solana (SOL) Price Analysis Solana’s (SOL) decline intensified on Tuesday as it dipped below $150 to a low of $145 thanks to growing macroeconomic concerns and escalating geopolitical tensions. SOL rallied on Sunday but lost momentum on Monday as market sentiment worsened exponentially. Even the news of VanEck’s Solana ETF getting a DTCC listing failed to lift spirits, with the price continuing to struggle during the ongoing session. SOL traded in positive territory the previous weekend, rising 2.47% on Friday and settling at $147 after reaching an intraday high of $152. Price action remained positive on Saturday and Sunday, increasing 1.51% and 1.56% to reclaim $150 and settle at $152. Bullish sentiment intensified on Monday as SOL rallied nearly 6% to cross the 50-day SMA and $160 and settle at $161. Buyers retained control on Tuesday as the price rose 2.44% to $165 after recovering from an intraday low of $156. Sentiment changed on Wednesday as the price fell 2.48%, slipping below the 20-day SMA and settling at $161. Source: TradingView Sellers retained control on Thursday as SOL plunged over 5%, slipping below the 20-day SMA and $160 to settle at $152. Selling pressure persisted on Friday as SOL plunged to an intraday low of $140. It recovered from this level to settle at $148, ultimately registering a drop of 2.47%. Price action remained bearish on Saturday, falling nearly 3% to $144. Despite the overwhelming selling pressure, SOL rallied on Sunday, rising almost 6% to reclaim $150 and settle at $153. It raced to an intraday high of $158 on Monday but lost momentum and dropped 1.52% to $150. The price declined on Tuesday, slipping below $150 and settling at $147. The current session sees SOL marginally down as buyers and sellers struggle to establish control. Uniswap (UNI) Price Analysis Uniswap (UNI) registered a sharp increase on Saturday (June 7), crossing the 20-day SMA and settling at $6.35. It registered a marginal decline on Sunday, ending the weekend in the red at $6.32. UNI started the previous week positively, rising over 8% to cross $6.50 and settle at $6.84. Bullish sentiment intensified on Tuesday as the price surged an incredible 26% and settled at $8.66. Unsurprisingly, buyer exhaustion set in on Wednesday as UNI fell nearly 6% and settled at $8.16. Source: TradingView Bearish sentiment intensified on Thursday as UNI fell over 8%, slipping below $8 and settling at $7.48. The price plunged to an intraday low of $6.80 on Friday. However, it recovered from this level to register an increase of almost 4% and settled at $7.76. Price action turned bearish over the weekend, falling 6% on Saturday and 1.79% on Sunday to $7.17. UNI raced to an intraday high of $7.99 on Monday, starting the week in positive territory. Despite this, it could not stay at this level and settled at $7.43, ultimately registering an increase of almost 4%. The price was back in the red Tuesday, registering a marginal decline and settling at $7.42. The current session sees the price down 1.20%, trading around $7.33. Celestia (TIA) Price Analysis Celestia (TIA) has traded downwards since the middle of last week, losing momentum after reaching $2.26. The price has plunged below key levels since and currently trades around $1.65. TIA started the previous week positively, rising nearly 6% on Monday and settling at $2.12. It continued to push higher on Tuesday, registering an increase of 2.20% and moving to $2.20. Despite the positive start, TIA was back in the red on Wednesday, dropping 4.40% to $2.10. Bearish sentiment intensified on Thursday as the price plunged over 8%, slipping below $2 and settling at $1.93. TIA plunged to an intraday low of $1.72 on Friday before recovering to settle at $1.80, ultimately registering a drop of almost 7%. Source: TradingView Price action remained bearish over the weekend as TIA dropped 0.62% on Saturday and over 2% on Sunday to settle at $1.75. The price reached an intraday high of $1.83 on Monday but dropped to $1.72, falling nearly 2%. Price action remained bearish on Tuesday as TIA fell 3.22%, falling to an intraday low of $1.58 before settling at $1.66. The current session sees TIA down over 1%, trading around $1.64. Bittensor (TAO) Price Analysis Bittensor (TAO) rose nearly 5% on Saturday, rising to $386 on Sunday, as it started the previous weekend positively. Despite this, it lost momentum on Sunday, dropping almost 1% to $382. The price rallied nearly 10% on Monday, surging past $400 and the moving averages, settling at $419. TAO raced to an intraday high of $443 before settling at $427, ultimately registering an increase of almost 2%. However, it lost momentum on Wednesday and fell 4.53% to $407. Source: TradingView Bearish sentiment intensified on Thursday as TAO plunged 5%, slipping below $400 and the 20, 50, and 200-day SMAs and settling at $387. Selling pressure persisted on Friday as the price fell to an intraday low of $353. TAO rebounded from this level to settle at $375, ultimately declining just over 3%. Sellers retained control on Saturday as the price fell 3.10% to $363. TAO faced selling pressure and volatility on Sunday as buyers and sellers struggled to establish control. Buyers ultimately gained the upper hand as the price rose nearly 1% to end the weekend at $366. TAO raced to an intraday high of $391 on Monday. However, sellers overwhelmed buyers at this level, and the price plunged to $367, registering only a marginal increase. Price action turned bearish on Tuesday, falling nearly 5% to $350. The current session sees TAO down 1.31%, trading around $345. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

Source: Crypto Daily