According to the current liquidation map, the market is still dominated by short positions. Based on the current Bitcoin price around $117,200, if the market fluctuates by another $2,000 up or down, and rises to around $119,200, it is expected that the cumulative amount of short positions liquidated will be about $654 million. Conversely, if the market falls to around $115,200, the cumulative amount of long positions liquidated is estimated to be about $1 billion.
As for the overall market direction, the daily chart shows a slightly downward oscillation. Currently, the market is in a downward oscillating trend, and the overall swing is not very large. However, it is important to be cautious if the market breaks below the support level, and for Ethereum, the daily trend still shows an upward trajectory. Even if the overall market corrects, Ethereum’s performance remains strong. There are capable altcoins that have already risen alongside Ethereum, showing significant gains, thus the market is also in a state of greed.
Personally, I believe it's important to pay more attention to the overall market and Ethereum. Once the overall market truly changes trend, it will also impact Ethereum's movement. With Ethereum having a one-sided rise during this period, it is increasingly important to be aware of the risk of a significant pullback, as markets cannot keep rising indefinitely; this is a rule. Therefore, I still recommend focusing on short-term or swing trading, maintaining good stop-losses, and staying rational. This week, news to watch includes developments in U.S. crypto regulations and Trump's tariff dynamics.
Three types of altcoins poised to perform 10x in the upcoming bull market!
1.PYTH
Pyth Network (PYTH) is another name that has garnered significant attention. It plays a key role in decentralized finance by providing real-time price information. The transition to community governance in 2023 marks the arrival of a new phase, where token holders will have the opportunity to shape its development direction. Decisions regarding reward models, fee structures, and information flow expansion will influence usage and demand. The random number generation protocol Pyth Entropy developed by PYTH may also open doors to new use cases in gaming and NFTs.
EquityBlock announced two days ago that it has officially integrated with Pyth Network to provide real-time, institutional-grade pricing information for synthetic stocks. This collaboration will deliver accurate on-chain stock pricing within a decentralized framework, enhancing the precision of minting and liquidation, and providing seamless connections to real-world markets.
PYTH has also established connections with leading DeFi companies like Injective and Synthetix, and recently integrated with Aster’s 24/7 stock perpetual contracts and xStocks Alliance. These collaborations enhance reliance on PYTH data and may drive demand for its token.
The news of Aster launching PYTH-powered perpetual contracts on July 16, 2025, boosted market confidence. On the same day, media reports ranked PYTH as one of the top three tokens under $1, pushing its price up more than 15% in just one week.
From a technical standpoint, the MACD shows bullish momentum, and the RSI is at 69.52, indicating that this currency pair remains strong but has not shown signs of reversal. Prices are also trading above the short-term and medium-term moving averages, supporting its upward momentum. The key Fibonacci resistance level of 0.12732 has been breached, potentially triggering new buying interest. These data suggest that PYTH may soon rise further.
2.FTT
The FTX token (FTT) has recently surged again, thanks to news from Backpack announcing a new platform aimed at helping FTX creditors liquidate their claims. Just two days ago, on July 18, after this news was released, FTT's price soared by 7%. Subsequently, FTT's daily increase exceeded 17%, with a weekly rise close to 20%. Part of this increase is attributed to the general enthusiasm for altcoins, as evidenced by the rising altcoin quarterly index, but the news surrounding debt liquidation may be the core driving force.
The potential risk for FTT lies in how these debt liquidations will affect the market. A sell-off by creditors could create an oversupply, putting pressure on the token. However, if managed well, this could also rekindle interest and attract speculative capital. The tokenomics of FTT tends to support price stability and adopts a buyback and burn deflationary model.
However, over 91% of the supply is still concentrated, which means large holders can manipulate the price at will. The technical indicators show that FTT is breaking out of a downtrend channel, and this pattern is usually associated with reversals or a new round of rebounds. The surge in trading volume supports this trend. FTT is in a fragile but explosive state. If demand continues to grow and the liquidation process does not flood the market, it could become a strong contender for the next explosive cryptocurrency.
3.IMX
Immutable (IMX) is rapidly rising, benefiting from its close ties to Ethereum and its focus on NFTs and gaming. The token has increased nearly 9% in 24 hours, with trading volume climbing 48%. Its market cap of $1.2 billion indicates growing investor interest. IMX has surged 75% from its June low, partly due to Ethereum's 45% rise, which has supported its ecosystem.
In the cryptocurrency space, major partnerships often create strong developmental momentum, and IMX is no exception. Immutable has been active in the Web3 space since 2017, continually driving innovation while awaiting clearer regulatory directions. The passage of the CLARITY Act could mark a pivotal moment, providing a clear legal framework for established game studios to confidently issue and scale game tokens.
Another significant development is the merger of Immutable X and zkEVM into a single chain earlier this year. This move is expected to reduce friction among developers and enhance platform efficiency. Additionally, the team has introduced staking rewards in the form of the $END token to incentivize holders and reduce circulating supply. If user demand increases, such staking programs will support the token price.
From a technical perspective, IMX remains in a strong uptrend. The MACD indicator is bullish, and the RSI is at 75.97, indicating strong market interest, though this also suggests that the asset may be nearing overbought territory. However, high RSI levels can persist in hot markets. A breakout from the descending triangle would further confirm bullish momentum. The current price is $0.635, with resistance around $0.74 based on Fibonacci levels. This indicates there is further room for upward movement before reaching the key resistance level.
Like most Layer-2 projects, price trends are closely linked to the overall movements of Bitcoin and Ethereum. However, with its gaming niche, strong partnerships, and staking support, IMX has enough firepower for an independent rebound. If NFT trading volume and gaming activity rebound, and unlocking events do not flood the market with tokens, IMX could see a strong rise.
Brothers, come quickly to the chat room!
