7.25 Bitcoin fluctuates in a narrow range, ETH price stagnates, and the mid-term market is poised for a breakout!
Bitcoin is currently hovering in the range of $115,600 - $119,500, with multiple attempts to break through resistance levels failing, revealing hesitance in the market. If it breaks through the resistance, it may continue the bull market and challenge historical highs. However, if it loses the support level of $115,600, it may trigger a deep correction, with $110,000 - $112,000 potentially becoming a low-price accumulation zone. It is important to note that the lower half of this range lacks liquidity, making it susceptible to violent shocks, and any decline could trigger a chain reaction in the market, particularly affecting the more volatile altcoins.
Ethereum's perpetual trading volume has surpassed Bitcoin for the first time since 2022, reflecting a growing market preference for altcoins. Data shows that although Bitcoin's price is rising, its dominance is declining, while altcoins have shown significant gains in the second half of July. A key driver of this trend comes from new legislation signed by Trump, which provides clear legal guidance for crypto assets, directly boosting investor sentiment and institutional interest, becoming an important support for altcoins' strength. For friends who are dissatisfied with recent market operations, consult btc0796 to find me and discuss the market together.
Operational Suggestions:
Short Bitcoin at 119,000-119,500, with a target near 117,000-115,000. Stop loss at 120,000.
Short Ethereum at 3,750-3,790, with a target near 3,600-3,500. Stop loss at 3,830.
