The crypto market turned bearish over the past 24 hours, dropping 1.35% as sentiment cooled after a rally that saw the market cap cross $4 trillion. Macro catalysts, such as Fed policy tensions, liquidations, and technical overextension, fueled profit-taking, leading to a sharp decline. Bitcoin (BTC) experienced a substantial drop over the past 24 hours, falling from $119,422 to a low of $116,653 before recovering to its current level of $118,183. The flagship cryptocurrency has declined by almost 1% over the past 24 hours.
Ethereum (ETH) also lost momentum after crossing $3,800 late on Monday. The world’s second-largest cryptocurrency reached an intraday high of $3,851 before losing momentum and dropping to a low of $3,657. ETH is down over 2% in the past 24 hours, trading around $3,691. Ripple (XRP) slipped below $3.50 and is down 1.06%, trading around $3.46. However, Solana (SOL) has defied market trends and is up nearly 6% over the past 24 hours, as it marches towards the $200 milestone. Dogecoin (DOGE) is down almost 3%, while Cardano (ADA) is marginally down, trading around $0.869. Stellar (XLM), Chainlink (LINK), Hedera (HBAR), Litecoin (LTC), Toncoin (TON), and Polkadot (DOT) also registered substantial declines.
Lazarus Group Behind CoinDCX Hack
Cybersecurity experts believe the $44 million CoinDCX hack was orchestrated by the dreaded Lazarus Group. Experts from Cyvers pointed out that the hack followed the same patterns observed during the WazirX hack. WazirX was hacked exactly a year ago, with the attackers draining $244 million through a series of malicious transactions. Security experts stated that the speed, precision, and cross-chain sophistication of the breach made it exceptionally alarming. The group planned the attack from July 16 and conducted a test transaction on 1 USDT before unleashing the hack. Cyvers also stated that Lazarus seems to be accelerating its focus on Indian exchanges.
“In just five minutes, 44 million USDT is siphoned out in rapid-fire bursts. If Lazarus is accelerating its focus on India’s largest exchanges, preemptive threat prevention isn’t optional. It’s the only line of defense.”
Crypto-Linked Stocks Jump After Trump Signs GENIUS Act
Crypto stocks jumped on Monday after President Donald Trump signed the GENIUS Act into law, regulating stablecoins in the US. The passage of the bill is a big win for the crypto industry, which has lobbied for a clear regulatory framework to gain legitimacy. The GENIUS Act bans yields or interest payments on regulated stablecoins. Deutsche Bank believes this is fueling the ongoing ETH rally, as investors move to the second-largest cryptocurrency as an alternative for yield generation in decentralized finance (DeFi). Luke Nolan, senior associate at CoinShares, stated,
“It has been a long-awaited moment for Ethereum, and although it's too early to be fully convinced of a longer-term trend shift, the confluence of factors is playing into its favor.”
BitGo Files For US IPO
Digital asset custodian BitGo has filed for an initial public offering (IPO) in the US, as major players in the crypto industry push for mainstream adoption. BitGo announced on Monday that it had submitted a draft registration statement on Form S-1 to the Securities and Exchange Commission (SEC) for a proposed IPO of its Class A common stock.
BitGo is one of the largest custodians in the crypto industry, with over $100 billion in assets under custody, up from $60 billion at the beginning of 2025. The IPO comes amid the company’s planned expansion overseas. BitGo recently secured regulatory approval in the European Union after complying with the Markets in Crypto-Assets (MiCA) framework.
Crypto Funds Register Record Inflows
Crypto investment products registered record-breaking inflows last week, recording gains for a 14th straight week. Crypto exchange-traded products (ETPs) saw $4.4 billion in inflows for the week ending Friday as BTC surged to a new all-time high, crossing $120,000. The inflows push the year-to-date (YTD) inflows in crypto ETPs to a new high of $27 billion, with total assets under management (AUM) crossing $220 billion for the first time. Meanwhile, ETH ETPs broke several records last week, with inflows this year already surpassing 2024 levels. The inflows surged as ETH raced past key levels, crossing $3,800 over the weekend. CoinShares head of research, James Butterfill, stated,
“The past 13 weeks of inflows now represent 23% of Ethereum AUM.”
Trump Media Stock Soars After Bitcoin (BTC) Purchase
Trump Media shares closed 3% higher on Monday after news that the company had purchased over $2 billion worth of Bitcoin (BTC). Trump Media Group is the entity behind several of the Trump family’s business endeavors, including the social media platform Truth Social, streaming platform Truth+, and financial services brand Truth.Fi. According to a statement by Trump Media, the company acquired the BTC as part of efforts to become a Bitcoin treasury company. Trump Media CEO and President Devin Nunes stated,
“We're rigorously implementing our publicly announced strategy and fulfilling our bitcoin treasury plan. These assets help ensure our company's financial freedom, help protect us against discrimination by financial institutions, and will create synergies with the utility token we're planning to introduce across the Truth Social ecosphere.”
Bitcoin (BTC) Price Analysis
Bitcoin’s (BTC) rally has cooled off in recent sessions, with the flagship cryptocurrency registering a notable decline over the weekend. BTC faced volatility on Friday and dropped 1.03%. Sellers retained control over the weekend as the price dropped to $117,240, but not before reaching an intraday low of $116,208. BTC recovered on Monday, reaching an intraday high of $119,618 before losing momentum and settling at $117,397, ultimately registering a marginal increase.
BTC’s recent dropoff comes after a sustained rally, driven by institutional interest and retail investors. As a result, BTC surged past key levels, crossing $120,000 and setting a new all-time high of $123,091 last week. Analysts believe the current pause could be temporary, as investors regroup and reassess their positions. However, they have also highlighted deeper structural shifts within blockchain activity. CryptoQuant analyst Avocado Onchain focused on the continuous decline in Bitcoin’s Unspent Transaction Output (UTXO) count. The analyst explained that BTC’s UTXO count has steadily declined since December 2024, indicating growing over-the-counter (OTC) activity and consolidation by large holders.
These large holders are reportedly merging multiple UTXOs into fewer addresses. This increases on-chain efficiency and indicates a preference for long-term custody. The analyst stated,
“The post-ETF approval environment has driven more assets into secure wallets, moving funds off exchanges into institutional-grade custody.”
The shift suggests long-term holders are preparing for an extended exposure to the asset instead of limited and immediate market participation. The consolidation of BTC holdings suggests reduced near-term liquidity but long-term market stability. The analyst also noted that retail activity remained subdued compared to previous cycles. They pointed out that, unlike previous cycles, which saw retail-driven volume contributing to UTXO growth, the current rally has yet to witness widespread grassroots engagement.
BTC started the previous weekend in positive territory after Thursday’s (July 10) rally of 3.51%. The price pushed higher on Friday, rising 1.50% and settling at $116,885. Despite the positive sentiment, BTC lost momentum on Saturday and registered a marginal decline. It recovered on Sunday, rising nearly 2% to cross $118,000 and settle at $118,626. BTC raced past $120,000 on Monday, reaching a new all-time high of $123,091. However, it could not stay at this level and ultimately settled at $119,716. Selling pressure returned on Tuesday as the price fell nearly 2% to a low of $115,701 before settling at $117,682. BTC recovered on Wednesday, rising almost 1% to reclaim $118,000 and settle at $118,641.
Source: TradingView
BTC faced selling pressure and volatility on Thursday as buyers and sellers struggled to establish control. Buyers ultimately gained the upper hand as the price rose 0.39% to cross $119,000 and settle at $119,101. BTC was back in the red on Friday, dropping 1.03% to settle at $117,877. Sellers retained control over the weekend as the price registered a marginal decline on Saturday and fell 0.48% on Sunday to settle at $117,240. BTC raced to an intraday high of $119,618 on Monday. However, it lost momentum after reaching this level and fell to $117,397, ultimately registering a marginal increase. The current session sees BTC marginally up, trading around $117,878.
Ethereum (ETH) Price Analysis
Ethereum (ETH) has registered a substantial decline during the ongoing session as markets turned bearish thanks to macroeconomic factors and profit taking. The world’s second-largest cryptocurrency’s rally stunned markets as it broke out of range to surge past $3,000 and $3,500.
The rally has been fueled by corporate treasuries that have started buying ETH and adding it to their reserves to gain exposure to the tech infrastructure behind DeFi and digital assets. Several companies, including BitMine Immersion Technologies and Coinbase, have added ETH to their holdings. As a result, the token’s value has surged over 60%, crossing $3,800, a level last seen in January. Some analysts believe the rally has put the $4,000 mark well within reach. According to an analysis by the Kobeissi Letter, ETH is in one of the biggest short squeezes in the history of crypto. Short positions on the asset reached an all-time high recently. However, ETH pushed upwards, forcing sellers to cover, pushing prices higher. According to the analysis, if ETH rises 10% around $1 billion in short positions will be liquidated, driving the price beyond $4,000.
Several other factors, including institutional demand, whale accumulation, and a surge in Layer2 activity, are also fueling the rally.
ETH started the previous weekend in positive territory, registering a marginal increase on Friday (July 11). It lost momentum on Saturday, registering a marginal decline before rising nearly 1% on Sunday to end the weekend at $2,970. The price continued rising on Monday, crossing $3,000 to settle at $3,015. Buyers retained control on Tuesday as ETH rose over 4% and settled at $3,410. Bullish sentiment intensified on Wednesday as the price surged over 7%, crossing $3,300 and settling at $3,374.
Source: TradingView
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 $3,458, ultimately registering an increase of 1.99%. ETH remained in positive territory on Saturday, rising 1.31% to $3,595. The price reached $3,700 on Sunday, increasing 4.53% to $3,757. ETH reached an intraday high of $3,859 as it started the week in positive territory. However, it lost momentum after reaching this level and settled at $3,764, ultimately registering a marginal increase. The current session sees ETH down over 3%, trading around $3,648.
Solana (SOL) Price Analysis
Solana (SOL) has defied market trends to trade in positive territory during the ongoing session. The altcoin rallied past $200 during the ongoing session, reaching an intraday high of $204, before declining to current levels. The price remains marginally up despite the decline. Sentiment around SOL has been very bullish, with the Solana ecosystem’s DeFi TVL reaching $10 billion, the highest in six months, reflected in a substantial increase in DEX activity.
SOL traded in the red the previous weekend, dropping nearly 1% on Friday and 1.37% on Saturday to settle at $160. Despite the selling pressure, it recovered on Sunday, registering a marginal increase and settling at $161. SOL raced to an intraday high of $168 on Monday. However, it could not stay at this level and settled at $162, ultimately registering a 0.68% increase. The price plunged to an intraday low of $157 on Tuesday as selling pressure intensified. It rebounded from this level to reclaim $160 and settle at $164, rising 1,08%. Bullish sentiment intensified on Wednesday as SOL surged almost 6% to cross $170 and settle at $173.
Source: TradingView
Buyers retained control on Thursday despite selling pressure as SOL rose 1.29% and settled at $176. The price reached an intraday high of $184 on Friday before losing momentum and settling at $177, ultimately rising 0.77%. SOL registered a marginal decline on Saturday before rising 2.48% on Sunday to end the weekend at $181. SOL started the current week on a bullish note, surging nearly 8% to cross $190 and settle at $195. The price raced past $200 during the ongoing session, reaching an intraday high of $204. However, it lost momentum and fell to its current level of $195.
Arbitrum (ARB) Price Analysis
Arbitrum (ARB) started the previous weekend on a bullish note, surging to an intraday high of $0.433. However, it lost momentum after reaching this level and settled at $0.405, ultimately registering a 2.27% increase. ARB lost momentum on Saturday, dropping 1.38% to $0.399, but recovered on Sunday, rising nearly 3% and settling at $0.410. The price reached an intraday high of $0.433 on Monday but lost momentum after reaching this level, settling at $0.402, ultimately registering a drop of almost 2%. Buyers returned to the market on Tuesday as ARB rallied, rising over 8% to $0.435. It faced volatility on Wednesday as buyers and sellers struggled to establish control. Buyers ultimately gained the upper hand as the price rose 1.19% to $0.440.
Source: TradingView
ARB continued pushing higher on Thursday, rising over 2% to $0.450. It raced to an intraday high of $0.497 on Friday as bullish sentiment intensified. However, it could not stay at this level and dropped to settle at $0.452, ultimately registering a marginal increase. Price action remained positive over the weekend as ARB rose nearly 3% on Saturday and almost 4% on Sunday to settle at $0.483. Price action remained positive on Monday, rising 0.50% to $0.485. However, ARB has lost momentum during the ongoing session, down over 6%, trading around $0.455.
Bittensor (TAO) Price Analysis
Bittensor (TAO) registered a sharp increase on Friday (July 11), rising nearly 5% to $394. It lost momentum on Saturday, dropping 2.44% but recovered on Sunday, increasing 1.59% to end the weekend at $390. TAO raced to an intraday high of $432 on Monday. However, it could not stay at this level and settled at $408, ultimately registering a 4.63% increase. Bullish sentiment intensified on Tuesday as TAO rallied, rising nearly 7% to $436. Despite the positive sentiment, it was back in the red on Wednesday, dropping 1.28% to $430.
Source: TradingView
Sellers retained control on Thursday as TAO fell over 2% to $422. The price faced volatility on Friday as buyers and sellers struggled to establish control. Sellers ultimately gained the upper hand as TAO fell 2.28% to $412. The price registered a marginal increase on Saturday before reaching an intraday high of $434 on Sunday. However, it could not stay at this level and settled at $413, ultimately registering a marginal decline. Bullish sentiment returned on Monday as TAO rallied, rising nearly 8% to $445. However, the price is back in the red during the ongoing session, down almost 5%, trading around $424.
Aptos (APT) Price Analysis
Aptos (APT) started the previous week on a positive note, reaching an intraday high of $5.20. However, it could not stay at this level and settled at $4.97, ultimately registering a 0.61% increase. The price plunged to an intraday low of $4.78 on Tuesday but recovered, rising 2.51% to cross $5 and settle at $5.09. Buyers retained control on Wednesday as APT registered an increase of almost 2%, reaching an intraday high of $5.36 before settling at $5.19. APT continued pushing higher on Thursday, rising 1.98% to $5.29.
Source: TradingView
APT raced to an intraday high of $5.59 on Friday as bullish sentiment intensified. However, it could not stay at this level and settled at $5.32, ultimately registering a marginal increase. The price registered another marginal increase on Saturday before surging to an intraday high of $6.21 on Sunday. It lost momentum after reaching this level and settled at $5.32 after a marginal decline. APT started the current week on a bullish note, rising 1.57% and settling at $5.40. Despite the positive start, APT is back in the red during the ongoing session, with the price down almost 3% at $5.25.
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.
