Today's Market Research Report
Today, the overall cryptocurrency market continues to experience a low-volume fluctuation trend, resonating with both news and technical aspects. Although mainstream coins closed positively, risk signals are frequently appearing. On the macro level, Trump stated he does not consider extending the suspension of tariffs that is set to end on July 9, coupled with the suspension of trade talks with Canada, increasing market concerns about tightening global trade environments. Meanwhile, the conflict in Lebanon has escalated, and the situation in the Middle East is once again tense, leading to a rise in risk-averse sentiment.
Regarding Bitcoin, the weekly chart shows a 7% increase, forming a solid bullish candlestick. The daily chart is at a local high during the second round of rebound, but trading volume continues to shrink, indicating a strong atmosphere of market indecision; the current rise lacks sustained momentum. On-chain data shows a decline in trading activity, and large BTC old addresses are frequently moving, which warrants vigilance against potential sell pressure. In the short term, attention should be paid to the resistance zone of $1088-$1098 and support looking towards $1073-$1063.
Ethereum has seen even stronger gains, increasing by 12% on the weekly chart, but also faces concerns about insufficient volume. The price of ETH is constrained by the resistance area around $2530, with repeated unsuccessful attempts to rise during the day, increasing the risk of a pullback. In the short term, focus should be on the resistance between $2520-$2550 and the support range below $2450.
Regarding altcoins, although market risk appetite has slightly rebounded, the total market cap remains low, making it easily influenced by sentiment. Given the uncertainties surrounding tariffs and geopolitical risks, it is advisable for investors to remain cautious and wait for a breakout in mainstream coins before considering opportunities in altcoin rotations.
