Key Takeaways
- The crypto markets experienced a major drop during the last trading day, with major tokens having a drastic fall.
- Regardless of the bearish interference, the bulls continue to maintain their strength and appear to be confident of a rebound.
- In the short term, BTC price, along with other tokens, could trigger a fresh descending trend, visiting the levels below the crucial support.
CRYPTO MARKET TODAY AT A GLANCE
| Global Crypto Market Cap | $1.17 trillion |
| Rise/Fall in Crypto Market Cap | -1.72% |
| Total Crypto Market Volume | $46.29 billion |
| Total DeFi Volume | $2.68 billion |
| Bitcoin Price | $30,111.63 |
| Bitcoin Dominance | 49.73% |
| Ethereum Price | $1,853.71 |
*As of 07-July-2023, 08:15 am
Bitcoin Prices Continue to Drop, Slides Below $30,000
Source: Tradingview
- The Bitcoin price is maintaining a consolidated trend within a parallel channel, and the recent plunge has dropped the levels lower.
- In the short term, the price has triggered a fine rebound, but the bears continue to hold some strength, which keeps up the hopes for a descending trend alive.
- Besides, the RSI has displayed a bullish divergence with a rebound, and hence a decent upswing could be fast approaching.
- Therefore, the price is believed to maintain a consolidated trend above $30,000 for a while, followed by a minor pullback.
Read On: Bitcoin Price Prediction
Ethereum Price Flash Bearish Signals
Source: Tradingview
- The Ethereum price in the short term has dropped from the bearish, rising wedge pattern and has triggered a significant descending trend.
- The volume has maintained decent levels, which indicates the volatility may remain high, maintaining a rising momentum.
- After the drop, the price is testing crucial support, which also coincides with the 200-day MA levels that may offer the base for a rebound.
- Hence, the price is expected to test the levels between $1832 to $1835, attract huge liquidity and trigger a massive rebound.
Read More: Ethereum Price Prediction
Latest Updates of the Crypto Market
- Binance CEO Changpang Zhao (CZ) has tipped the next bull run and said it may occur in 2025, emphasizing the Bitcoin halving event.
- In the recent update on the Ripple vs SEC lawsuit, Judge Hamilton certified the XRP holders to proceed with a lawsuit against Ripple, its CEO, and subsidiary, XRP II.
- The Shibarium and its testnet, Puppynet, have recorded a new milestone of more than 27 million transactions and growth in the total number of linked wallets.
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