📰 General Highlights
🔻 1. Sharp decline in the crypto market
The market has retraced ~6.9% in the last 24 hours, with Bitcoin falling to US$ 115,500, below the critical support level between US$ 116,000 and US$ 120,000.
Ethereum has broken its support at US$ 3,600, and XRP is trading near US$ 3, with a decrease of approximately 4%.
⚠️ 2. High volume of liquidations
The drop of BTC below US$ 116,000 triggered over US$ 140 million in liquidations of leveraged positions, affecting traders who were ‘long’ on Bitcoin, Ethereum, and other altcoins.
🇺🇸 3. Regulation on the agenda in the USA
The Senate released a simplified bill on the structure of the crypto market, aligning with the House's CLARITY Act, focusing on the correct classification of tokens such as BTC and ETH — without treating them as securities.
💼 4. Institutional fund on the rise
Former Jefferies trader, Tian Zeng, is launching the Third Eye fund, with US$ 70 million in backing, focused on long/short strategies in crypto and digital derivative assets. Operations are set to begin in August.
---
💡 Highlight: BTTC (BitTorrent Chain)
🔐 5. BTCC (exchange) reports solid reserves
The BTCC exchange released a Proof of Reserves (PoR) with a total reserve of 132% in July, ensuring solvency. Highlight: ETH has 170% coverage, XRP 145%, BTC and ADA with 120%.
📈 6. Technical appreciation outlook for BTTC
Forecasts indicate moderate upside potential (~5%) in the next 30 days, with projections for BTTC to reach and exceed US$ 0.000001, with support on the chart to break consolidation levels.
---
🧭 Overview and Opportunity
The market is in a technical correction, and traders should reassess exposures and control leverage.
The regulatory environment in the USA continues to advance with clear legislation for crypto.
In the case of BTTC, signs of technical and fundamental resilience are appearing: structural support with PoS staking, consistent volume, and secure reserves via BTCC.
---
📌 Recommended practical strategy
● BTC / ETH: Maintain positions with adjusted stops or zigzag on support
● XRP and altcoins: Monitor volume and whale behavior after large withdrawals (such as those from Chris Larsen)
● BTTC: Position yourself in a consolidation range; focus on staking and potential bullish catalysts
