Daily Crypto Signals: Bitcoin Tests $100K Support, XRP ETF Launches in Canada
The crypto market faces a pivotal moment as Bitcoin’s BTC/USD short-term holders sell 15,000 BTC at losses, pushing prices toward critical $97,000-$94,000 support levels, while XRP XRP/USD gains institutional legitimacy through Canada’s first spot XRP ETF launch backed by Ripple. Meanwhile, regulatory momentum builds as President Trump urges Congress to fast-track stablecoin legislation, and Ethereum ETH/USD consolidates below key $2,800 resistance with strong fundamentals supporting potential breakout scenarios.
Crypto Market Developments
This week, there are big changes happening in the world of digital assets on many fronts. Elon Musk’s X platform said it would roll out a full range of financial services in 2025. CEO Linda Yaccarino said that the network’s 600 million users would eventually “be able to transact their whole life on the platform.” The company is beta testing X Money’s payment and banking services. It might release an X-branded credit or debit card later this year.
As part of President Lee Jae-myung’s pro-crypto agenda, South Korea’s Financial Supervisory Commission declared that it would look into the fees charged by domestic cryptocurrency exchanges. This is a step toward clearer regulations. The investigation will look at the current pricing arrangements on major platforms like Upbit to see if they are too high for consumers compared to international standards.
President Trump has put more pressure on Congress to speed up the regulation of stablecoins. He wrote on Truth Social that he wants the GENIUS Act on his desk “ASAP” before the August break. On Tuesday, the Senate cleared the bill by a vote of 68 to 30. Democrats had been worried that Trump’s crypto businesses could cause conflicts of interest, which had slowed progress.
Bitcoin Holds Above $104,000
#bitcoin (BTC) is going through a rough patch right now because on-chain data shows that short-term holders are dumping a lot of it. According to CryptoQuant, more than 15,000 BTC were moved at a loss this week. On Wednesday, 16,700 BTC were moved to exchanges, which was when the price dropped from $106,500 to $103,500. This “weak hands” conduct is a common sign of panic selling during downturns, while long-term holders seem to be taking in the supply.
Bitcoin is currently trading for about $104,500. Analysts say it is in a “blind spot” phase because the spot volume differential has been negative since June, which means there is still selling pressure even though prices have recently gone up. The cryptocurrency has been trading in a narrow range between monthly highs of $110,600 and lows of about $100,000. The most important levels to observe are $109,000 and $103,000.
Short-term holders’ on-chain cost-basis research shows that there may be support between $97,000 and $94,000. This might be a local bottom that sweeps liquidation levels below $100,000. Trading desk QCP Capital said that “summertime blues” could effect volatility when institutions leave in July and August. Right now, implied volatility is below 40%, which means that prices will likely stay the same.
Ethereum Faces Resistance at $2,800
#Ethereum has strong positive fundamentals even though its price has been stuck around $2,550 since it hit a four-month high of $2,880 on June 11. The important resistance level at $2,800 is still very important. Analysts say that if this level is broken decisively, there may be a “violent move upward” into cycle highs above $4,000.
Ethereum is still being supported by institutional demand, which has seen spot ETF inflows of $861.3 million over the previous two weeks. This is the greatest amount of inflows since January. The trend of 19 days of consecutive inflows recently ended, but it came back with three days of new cash, including more than $19 million on Wednesday.
Network fundamentals get stronger as the quantity of staked ETH goes up by more than 500,000 tokens since June 1, bringing the total amount locked to an all-time high of more than 35 million ETH. Accumulation addresses holding 22.8 million ETH worth almost $58 billion have also set all-time highs. This shows that there isn’t any selling pressure and that people are quite sure about the long term.
The 200-day simple moving average at $2,600 (resistance) and the 50-day SMA at $2,450 (support) reveal that ETH is stuck between them. Historical trends show that breaching over the 200-day SMA could lead to rallies of 40% or more, as the one that happened in November 2024 when the price went up to $4,100. If breakout conditions happen, bull flag patterns might lead to objectives near $3,900 to $4,200.
Canada Launches First Spot XRP ETF
#xrp reached a big milestone when the Toronto Stock Exchange launched Canada’s first spot XRP ETF. 3iQ Corp’s XRPQ fund is now available with a 0% management fee for the first six months. This fund gives you regulated access to XRP through cold storage custody arrangements and purchases from regulated over-the-counter firms.
Ripple’s support as an early investor in the fund shows that they have a lot of faith in the product’s structure and security. The launch happens at the same time as Purpose Investments’ competitive XRPP ETF on the same platform. This gives Canadian and eligible international investors two ways to get XRP exposure without having to manage their own wallets.
XRP is currently trading at $2.15, and since 2015, when it was worth $0.02, it has shown amazing long-term growth, with gains of almost 10,700%. This growth path is what makes institutions interested in regulated products that give people access to XRP.
In the US, more than 10 spot XRP ETF applications are waiting for SEC approval. People in the business think that approval might happen as soon as October 2025. Canada’s pioneering approach to crypto-ETFs continues to establish standards for wider institutional adoption, while US investors wait for clearer rules for domestic products.
$BTC
$ETH
$XRP
Crypto Market Developments
This week, there are big changes happening in the world of digital assets on many fronts. Elon Musk’s X platform said it would roll out a full range of financial services in 2025. CEO Linda Yaccarino said that the network’s 600 million users would eventually “be able to transact their whole life on the platform.” The company is beta testing X Money’s payment and banking services. It might release an X-branded credit or debit card later this year.
As part of President Lee Jae-myung’s pro-crypto agenda, South Korea’s Financial Supervisory Commission declared that it would look into the fees charged by domestic cryptocurrency exchanges. This is a step toward clearer regulations. The investigation will look at the current pricing arrangements on major platforms like Upbit to see if they are too high for consumers compared to international standards.
President Trump has put more pressure on Congress to speed up the regulation of stablecoins. He wrote on Truth Social that he wants the GENIUS Act on his desk “ASAP” before the August break. On Tuesday, the Senate cleared the bill by a vote of 68 to 30. Democrats had been worried that Trump’s crypto businesses could cause conflicts of interest, which had slowed progress.
Bitcoin Holds Above $104,000
#bitcoin (BTC) is going through a rough patch right now because on-chain data shows that short-term holders are dumping a lot of it. According to CryptoQuant, more than 15,000 BTC were moved at a loss this week. On Wednesday, 16,700 BTC were moved to exchanges, which was when the price dropped from $106,500 to $103,500. This “weak hands” conduct is a common sign of panic selling during downturns, while long-term holders seem to be taking in the supply.
Bitcoin is currently trading for about $104,500. Analysts say it is in a “blind spot” phase because the spot volume differential has been negative since June, which means there is still selling pressure even though prices have recently gone up. The cryptocurrency has been trading in a narrow range between monthly highs of $110,600 and lows of about $100,000. The most important levels to observe are $109,000 and $103,000.
Short-term holders’ on-chain cost-basis research shows that there may be support between $97,000 and $94,000. This might be a local bottom that sweeps liquidation levels below $100,000. Trading desk QCP Capital said that “summertime blues” could effect volatility when institutions leave in July and August. Right now, implied volatility is below 40%, which means that prices will likely stay the same.
Ethereum Faces Resistance at $2,800
#Ethereum has strong positive fundamentals even though its price has been stuck around $2,550 since it hit a four-month high of $2,880 on June 11. The important resistance level at $2,800 is still very important. Analysts say that if this level is broken decisively, there may be a “violent move upward” into cycle highs above $4,000.
Ethereum is still being supported by institutional demand, which has seen spot ETF inflows of $861.3 million over the previous two weeks. This is the greatest amount of inflows since January. The trend of 19 days of consecutive inflows recently ended, but it came back with three days of new cash, including more than $19 million on Wednesday.
Network fundamentals get stronger as the quantity of staked ETH goes up by more than 500,000 tokens since June 1, bringing the total amount locked to an all-time high of more than 35 million ETH. Accumulation addresses holding 22.8 million ETH worth almost $58 billion have also set all-time highs. This shows that there isn’t any selling pressure and that people are quite sure about the long term.
The 200-day simple moving average at $2,600 (resistance) and the 50-day SMA at $2,450 (support) reveal that ETH is stuck between them. Historical trends show that breaching over the 200-day SMA could lead to rallies of 40% or more, as the one that happened in November 2024 when the price went up to $4,100. If breakout conditions happen, bull flag patterns might lead to objectives near $3,900 to $4,200.
Canada Launches First Spot XRP ETF
#xrp reached a big milestone when the Toronto Stock Exchange launched Canada’s first spot XRP ETF. 3iQ Corp’s XRPQ fund is now available with a 0% management fee for the first six months. This fund gives you regulated access to XRP through cold storage custody arrangements and purchases from regulated over-the-counter firms.
Ripple’s support as an early investor in the fund shows that they have a lot of faith in the product’s structure and security. The launch happens at the same time as Purpose Investments’ competitive XRPP ETF on the same platform. This gives Canadian and eligible international investors two ways to get XRP exposure without having to manage their own wallets.
XRP is currently trading at $2.15, and since 2015, when it was worth $0.02, it has shown amazing long-term growth, with gains of almost 10,700%. This growth path is what makes institutions interested in regulated products that give people access to XRP.
In the US, more than 10 spot XRP ETF applications are waiting for SEC approval. People in the business think that approval might happen as soon as October 2025. Canada’s pioneering approach to crypto-ETFs continues to establish standards for wider institutional adoption, while US investors wait for clearer rules for domestic products.
$BTC
$ETH
$XRP
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