【Today's Cryptocurrency Analysis｜July 29】
On the macro front, the probability of the Federal Reserve maintaining interest rates this week is 96.9%, and market expectations are basically clear; however, Trump has proposed raising global tariffs to 15%-20%, which exacerbates trade tensions, decreases risk appetite, and is unfavorable for capital inflow into high-volatility assets. At the same time, the SEC has postponed the review of the BTC and SOL spot ETF applications, resulting in a prevailing bearish sentiment.
From a technical perspective, BTC reached a high of 119.8K yesterday before facing pressure and falling back. In the short term, it continues to fluctuate within the 120K-116K range, with current trading volume gradually shrinking and a choice of direction approaching. If it breaks above 120K without volume support, it is likely to be a false breakout; support below is focused on 115K, and if it breaks below, it may trigger a short-term bearish market.
ETH reached a high of 3940 yesterday before quickly retreating, touching 3800 and then rebounding slightly. In the short term, it may test the 3680 support. The MA30 moving average shows significant support around 3750, and in terms of operations, focus on the pressure between 3820-3870.
Altcoins are generally weakening, with significant pullbacks in unlocking coins like SUI, OP, and JUP, and overall volume is insufficient. It is not recommended to heavily invest in rebounds at the current stage. Altcoins should primarily focus on defense, waiting for clearer trends before proceeding with any layout.
