🟥 Daily Market Summary (July 29, 2025)
The market shows strong sell signals, with total market capitalization dropping by about 5% in the last 24 hours.
Bitcoin is fluctuating between $118,000–$119,000, having dropped about 0.6% over the last 24 hours.
Ethereum is holding at support of $3,700, despite weakness in trading secondary currencies like XRP and SOL.
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🔻 Negative technical indicators and price behavior
Bitcoin (BTC)
Ready to form a 'Death Cross' where the 50-day moving average drops below the 200-day moving average, which may indicate further decline towards support at ~$73,800 in the worst case.
The narrow gap between $116K–$120K forms a pressure zone, and any move below $117K could open the door for a deeper correction towards $115K or even $112K–$113K.
Failure to break resistance around ~$120K–$122.5K highlights weakness in upward momentum and enhances reversal probabilities.
Ether (ETH)
Bearish Divergence indicators on RSI, and the appearance of a negative crossover in MACD, indicating a potential decline to $3,510 or even $3,000 if support is broken.
XRP
A 'Tweezer Top' reversal pattern formed at $3.65 then declined to a lower level, indicating selling pressure that may pull the price down towards $2.95 or $2.65.
Solana (SOL)
Also formed a Tweezer Top at $205–$206, retracing to a 'Lower High' at ~$195, currently trading outside the upward channel and signaling a clear downtrend. Support at $184, $163, and possibly $126.
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⚠️ Institutional and regulatory bearish drivers:
Deepening loss of regulatory neutrality for risks: major banks (like JP Morgan) are evaluating crypto-backed lending, further linking the market to general financial volatility, raising fears of a crisis similar to the 2008 crisis.
Warnings of sharp volatility such as Robert Kiyosaki's statement that Bitcoin is at risk of a sudden collapse, despite his recommendation to buy after the drop.
Citigroup Analysis: In the bearish scenario, they see the possibility of Bitcoin dropping to around $64,000 if market reliance on greater institutional adoption fails.
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🧾 Summary due to the current situation on July 29, 2025
Currency Current Status Support Level and Upcoming Risks
BTC Volatility under pressure of $120K resistance Support at $117K; a break may open direction towards $115K or $112–113K
ETH Slow descent with signs of weakness Key support at $3,510; a break may open the door towards $3,000
XRP Clear selling reversal Support at $2.95 then $2.65
SOL Forming a bearish pattern Support at $184 → then $163 → and possibly $126
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🧠 Hedging Recommendations and Strategy:
1. Exit or reduce exposure if the price falls below the mentioned support levels.
2. Use short trades cautiously at strong resistance points (like $120K in BTC).
3. Avoid overtrading in meme coins as long as sentiment continues to decline.
4. Monitor regulatory news (Clarity Act, Stablecoin regulation), as any avoidance of stricter regulation may temporarily exacerbate the decline.
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✅ Summary:
The daily market looks bearish indeed, with weak momentum and technical and health warnings from resistance levels.
As long as supporting technical indicators (like closing above $120K in BTC or support at $3,700 in ETH) are not broken, the upward trend remains possible, but the current state leans towards doubt or reversal.
Decline below key support (like Bitcoin at $116K) may lead to deeper corrections towards ~$112K or even below.