Crypto Price Analysis 7-24: BITCOIN: BTC, ETHEREUM: ETH, SOLANA: SOL, CELESTIA: TIA, OPTIMISM: OP, COSMOS: ATOM

The crypto market registered a substantial decline over the past 24 hours, dropping nearly 3% as Bitcoin (BTC) , Ethereum (ETH) , and other cryptocurrencies traded in the red. BTC briefly crossed $119,000 earlier in the session, reaching an intraday high of $119,274. However, it lost momentum after reaching this level and dropped to a low of $117,642 before moving to $117,650. The flagship cryptocurrency is down nearly 1% over the past 24 hours. Meanwhile, ETH has registered a substantially larger decline, with the price down almost 4%. The world’s second-largest cryptocurrency slipped below $3,600 and is currently trading around $3,564. Ripple (XRP) has plunged nearly 12% in the past 24 hours, as sellers look to drive it below $3. Solana (SOL) is down over 8%, trading at around $183, while Dogecoin (DOGE) is down over 11%. Cardano (ADA) , Stellar (XLM) , Chainlink (LINK) , Hedera (HBAR) , Litecoin (LTC) , Toncoin (TON) , and Polkadot (DOT) also registered notable declines. US Looking To Seize $7.1 Million In Crypto The US is planning to auction off $7 million worth of cryptocurrency seized by Homeland Security. The seized crypto is tied to an allegedly fraudulent oil and gas investment scheme. The Seattle US Attorney’s Office announced on Tuesday that it was filing a civil action to seek the forfeiture of part of the $97 million taken by the scheme between June 2022 and July 2024. Acting US Attorney for Seattle, Teal Luthy Miller, stated, “The co-schemers in this fraud moved their ill-gotten gain through various cryptocurrency accounts to try to launder the money stolen from victims.” According to the attorney’s office, it is seeking the forfeiture of assets belonging to individuals residing in Russia and Nigeria, who used the funds to buy crypto and send it to exchanges in their home countries. US authorities have indicted at least one individual who allegedly facilitated money laundering for transnational criminal organizations. Geoffrey Auyeung was indicted in 2024 after being charged with receiving funds from fraudulent investment schemes. He was also accused of using the stolen funds to buy BTC, USDT, USDC, and ETH, and sending a majority of the assets to Binance. White House Crypto Report Set For July 30 Launch The White House crypto policy report will be released on July 30. The report could potentially ignite an era of US dominance in crypto or increase its regulatory challenges. Bo Hines, executive director of the President’s Digital Asset Advisory Council, announced that the long-awaited report will be made public on July 30. The document is the result of an extensive, 180-day review by the President’s Working Group on Digital Assets. The Working Group on Digital Assets is a cross-agency effort involving the Treasury, the United States Securities and Exchange Commission (SEC), the Commodity Futures Trading Commission (CFTC), and the Department of Commerce. The report will outline strategies to maintain US leadership in digital finance, including a potential Bitcoin reserve and access to the Fed’s payment system for blockchain firms. JPMorgan Calls Stablecoin Forecast Optimistic JPMorgan has called the $2 trillion projection for the stablecoin market, often cited during the recent push to approve crypto market regulation, a “little bit optimistic.” Treasury Secretary Scott Bessent stated during a Senate hearing that the stablecoin market could potentially exceed the $2 trillion projection by 2028 if there is adequate legislative support. JPMorgan strategists said in a client note, “We find it hard to believe that the market could grow substantially larger over the next few years, as the infrastructure/ecosystem that supports stablecoins is far from developed and will take time to build out. While adoption is poised to grow further, it might be at a slower pace than what some might anticipate.” Block Joins S&P 500 Jack Dorsey’s Block joined the S&P 500 index on Wednesday. Block is the third public company with Bitcoin (BTC) holdings to join the global benchmark. The company currently holds $8,584 BTC, worth around $1 billion at current prices. Block shares on the New York Stock Exchange (NYSE) have risen 14% since it announced it would join the S&P 500. The S&P 500 tracks the largest publicly-listed US companies, including Tesla and Coinbase. Goldman Sachs, BNY To Offer Tokenized Money Market Funds Goldman Sachs and BNY are planning to offer institutional investors access to tokenized money market funds. This could enable institutional investors to unlock real-time settlement, 24/7 market access, and greater efficiencies across capital markets. BNY clients will also be able to invest in money market funds whose ownership is recorded on Goldman Sachs’ private blockchain. Laide Majiyagbe, the global head of liquidity, financing, and collateral at BNY, stated, “As the financial system transitions toward a more digital, real-time architecture, BNY is committed to enabling scalable and secure solutions that shape the future of finance.” Bitcoin (BTC) Price Analysis Bitcoin (BTC) extended its losses for a second day, dropping to a low of $117,142 before moving to its current level. The flagship cryptocurrency has struggled to build momentum this week, trading between $116,000 and $120,000. BTC started the week positively, reaching an intraday high of $119,603 on Monday before settling at $117,397, ultimately registering a marginal decline. The price recovered on Tuesday, rising over 2% to $119,980. Sellers regained control on Wednesday as BTC fell 0.99%, dropping to a low of $117,303 before settling at $118,794. BTC has mostly stayed around $118,000-$119,000 this week as the crypto market capitalization reaches record levels. However, traders and analysts believe the real test for the asset will come during the last week of July as macroeconomic policy events collide with an intense legal battle over President Trump’s tariffs. Felix Juavin, host of Forward Guidance, stated on X, “The last few days of July will set the stage for markets for the rest of the year, imo. FOMC meeting where dovish dissents are looking very likely. QRA meeting where we will get a look at how willing Bessent is going to be to try to weaponize treasury issuance for the first time since being chair. Tariff letter deadlines. The Supreme Court will begin deliberating on whether tariffs via executive order are legal or not. No big edge on either side right now personally, will just react once we get clarity. Stay frosty.” Bitcoin bulls have taken a breather this week, as it struggles to overcome $120,000. The flagship cryptocurrency has registered a notable decline over the past two sessions, dropping to a low of $116,144 on Tuesday before recovering to reclaim $118,000. Despite the sluggish price action, overall sentiment around BTC remains bullish. The Fear & Greed Index remains in “greed” territory, indicating that today’s pullback could be temporary instead of a trend reversal. Market conditions remain conducive, with most analysts suggesting BTC’s rally will resume. BTC is currently consolidating after surging to a new all-time high last week. The price has strong support around $116,000, the lower end of its current range. Additionally, Bitcoin dominance has also increased as investors pivot from altcoins to the relative stability of Bitcoin. Paul Howard, Director at Wincent, stated in a comment for FinanceMagnates, “We will see some continued profit taking at the upper end of this $110,000-$120,000 range. Volatility is still relatively low, trading around 40, and I believe this low volume environment will persist over the summer. Looking at September expiries, I expect a slower period over the next six weeks with policymakers away. I would be surprised if BTC breaks out higher and am of the view we consolidate around this band.” BTC started the previous week on a bullish note, racing past $120,000 and reaching a new all-time high of $123,091. It lost momentum after reaching this level and settled at $119,716. Bearish sentiment returned on Tuesday as BTC plunged to an intraday low of $115,701 before recovering to reclaim $117,000 and settling at $117,682, ultimately falling 1.70%. It recovered on Wednesday, rising 0.82% and settling at $118,641. The price faced volatility on Thursday as buyers and sellers struggled to establish control. Buyers ultimately gained the upper hand as BTC rose 0.39% to cross $119,000 and settle at $119,101. Selling pressure returned on Friday as the price fell 1,03%, dropping to a low of $116,805 before settling at $117,877. Source: TradingView Sellers retained control over the weekend as BTC registered a marginal decline on Saturday before dropping 0.48% on Sunday and settling at $117,240. The price recovered on Monday and reached an intraday high of $119,603. However, it lost momentum after reaching this level and settled at $117,397, ultimately registering a marginal increase. Bullish sentiment intensified on Tuesday as BTC rallied, rising over 2% and settling at $119,980. Selling pressure returned on Wednesday as the price fell 0.99% to an intraday low of $117,303 before settling at $118,794. The current session sees BTC marginally down, trading around $118,792, having recovered from a low of $117,142. Ethereum (ETH) Price Analysis Ethereum’s (ETH) rally lost momentum at the start of the week as selling pressure overwhelmed buyers at upper levels. As a result, ETH registered a marginal increase on Monday before dropping to a low of $3,620 on Tuesday. The price recovered from this level and settled at $3,747, ultimately registering a marginal decline. Selling pressure intensified on Wednesday as the price fell over 3% to a low of $3,531 before rebounding during the ongoing session. Bitwise Chief Investment Officer Matt Hougan believes ETH’s rally is being fueled by a structural shift in demand. Ethereum ETFs and accumulation by institutional investors have resulted in the acquisition of nearly 2.83 billion ETH, valued at over $10 billion. Hougan pointed out that demand is outpacing new ETH issuance by a factor of 32, creating a significant imbalance in demand-supply dynamics. As a result, ETH has surged, rising 65% over the past month and 160% since April. Inflows into spot Ethereum ETFs have also gained momentum in recent months, pulling in over $5 billion since mid-May. Corporate entities have also begun adding ETH to their reserves. Several companies, including Bitmine Immersion Technologies (BMNR), SharpLink Gaming (SBET), Bit Digital (BTBT), and The Ether Machine (DYNX), have purchased or announced plans to buy ETH as a reserve asset. Hougan believes that current market sentiment suggests continued demand and growth. ETH started the previous week in positive territory, rising 1.50% on Monday to cross $3,000 and settle at $3,015. Buyers retained control on Tuesday, rising over 4% to cross $3,100 and settle at $3,140. Bullish sentiment intensified on Wednesday as ETH rallied, rising over 7% to cross $3,300 and settle at $3,374. ETH crossed $3,400 on Thursday and raced to an intraday high of $3,677 on Friday. However, it could not stay at this level and settled at $3,548, ultimately registering an increase of 1.99%. Source: TradingView Buyers retained control over the weekend as ETH rose 1.31% on Saturday and nearly 5% on Sunday, crossing $3,700 and settling at $3,757. ETH began losing momentum on Monday but ended the day in positive territory, registering a marginal increase. Sellers took control on Tuesday as the price fell to an intraday low of $3,619 before recovering to settle at $3,747, ultimately registering a marginal decline. Selling pressure intensified on Wednesday as ETH fell over 3% and settled at $3,629. The current session sees ETH marginally down as buyers and sellers struggle to establish control. Solana (SOL) Price Analysis Solana (SOL) has registered a substantial decline over the past two sessions. The altcoin lost momentum after crossing $200 on Tuesday as selling pressure overwhelmed buyers. As a result, the price collapsed after reaching $205 on Tuesday, plunging nearly 8% on Wednesday and 2% during the ongoing session to a low of $179. SOL started the previous week in positive territory, rising nearly 1% to $162. The price plunged to an intraday low of $157 on Tuesday as selling pressure intensified. However, it rebounded from this level to reclaim $160 and settle at $164, ultimately registering an increase of 1.08%. Bullish sentiment intensified on Wednesday as SOL rallied, rising nearly 6% to cross $170 and settle at $173. Buyers retained control on Thursday as the price rose 1.29% to $176. SOL rallied to an intraday high of $184 on Friday as buyers attempted to push towards $190. However, it lost momentum after reaching this level and settled at $177, a 0.77% increase. Source: TradingView Despite the positive sentiment, SOL registered a marginal decline on Saturday. However, it recovered on Sunday, rising 2.48% to cross $180 and settle at $181. Bullish sentiment intensified on Monday as the price rose almost 8% to cross $190 and settle at $195. SOL crossed $200 on Tuesday and settled at $205, ultimately registering an increase of over 5%. However, it lost momentum on Wednesday, plunging nearly 8% to slip below $200 and settle at $189. The current session sees SOL down almost 2%, trading around $186 after recovering from a low of $179. Celestia (TIA) Price Analysis Celestia (TIA) started the previous week in the red, dropping 1.97% to $1.85. It recovered on Tuesday, rising 6.53% and settling at $1.97. Buyers retained control on Wednesday as TIA registered an increase of almost 1% and settled at $1.99. However, it lost momentum on Thursday, dropping 2.46% and settling at $1.94. TIA raced to an intraday high of $2.11 as buyers attempted to regain control. However, it lost momentum after reaching this level and settled at $1.95, ultimately registering a marginal increase. Source: TradingView Buyers retained control over the weekend as TIA rose almost 2% on Saturday and settled at $1.99. Bullish sentiment intensified on Sunday as the price rallied, rising nearly 9% to cross $2 and settle at $2.16. TIA started the current week on a bullish note, increasing 3.40% and settling at $2.24. Selling pressure returned on Tuesday as the price fell 1.58% to $2.20. Bearish sentiment intensified on Wednesday as TIA plunged over 12%, slipping below $2 and settling at $1.93. The price fell over 6% during the current session, trading around $1.81. Optimism (OP) Price Analysis Optimism (OP) raced to an intraday high of $0.698 on Monday as it started the previous weekend on a bullish note. The price ultimately settled at $0.656 after losing momentum. Bullish sentiment intensified on Tuesday as the price surged nearly 8% to cross $0.70 and settle at $0.706. OP reached an intraday high of $0.775 on Wednesday. However, it lost momentum after reaching this level and settled at $0.705, ultimately registering a marginal decline. The price fell to an intraday low of $0.684 on Thursday before recovering to register a 3.01% increase and settle at $0.726. Buyers retained control on Friday as OP rose 3% and settled at $0.748 after reaching an intraday high of $0.820. Source: TradingView OP traded in positive territory over the weekend, rising 1.65% on Saturday and 3.43% on Sunday to settle at $0.786. OP started the current week positively, increasing 2.59% to cross $0.80 and settle at $0.806. The price plunged to an intraday low of $0.736 on Tuesday as selling pressure intensified. However, it rebounded from this level to reclaim $0.80 and settle at $0.801, ultimately registering a marginal decline. Bearish sentiment intensified on Wednesday as OP plunged nearly 14%, slipping below $0.80 and $0.70 to $0.690. The current session sees the price down almost 3%, trading around $0.678. Cosmos (ATOM) Price Analysis Cosmos (ATOM) registered a substantial decline on Monday (July 14), dropping over 2% after reaching $4.85 and settling at $4.56. The price recovered on Tuesday, rising 2.35% and settling at $4.67. Buyers retained control on Wednesday as ATOM rose almost 2% and settled at $4.76. The price fell to an intraday low of $4.64 on Thursday as selling pressure intensified. It rebounded from this level to register a 1.97% increase, cross the 200-day SMA, and settle at $4.85. ATOM surged to an intraday high of $5.16 on Friday. However, it could not stay at this level and fell back to $4.85. Source: TradingView Price action remained positive over the weekend as ATOM rose 3.56% on Saturday and 3.47% on Sunday to cross $5 and settle at $5.19. ATOM registered a marginal decline on Monday, starting the week in the red. Sellers retained control on Tuesday as the price fell 1.53%, settling at $5.11 after dropping to a low of $4.91. Bearish sentiment intensified on Wednesday as the price plunged almost 8%, slipping below the 200-day SMA and settling at $4.70. The current session sees ATOM down 2.46%, trading around $4.58. 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