The global cryptocurrency market faced a broad-based pullback on July 1, with more than 90 of the top 100 coins in the red. Despite recent bullish momentum and record monthly closes in June, traders appear cautious heading into the second half of the year.

📉 Market Snapshot

As of this morning, the total crypto market capitalization is down roughly 3.2% in 24 hours, hovering near $3.41 trillion. Bitcoin (BTC) is consolidating around $107K–$108K, while Ethereum (ETH) trades near $2,450.

Analysts suggest that the current dip reflects both short-term profit-taking and uncertainty over macroeconomic drivers such as Federal Reserve policy and inflation expectations.

💰 Spotlight: ‘American Bitcoin’ Raises $220 Million

One of the most talked-about stories is the Trump-linked “American Bitcoin” project, which reportedly raised $220 million in its latest funding round. According to project backers, the initiative aims to establish a uniquely American approach to digital assets, potentially including plans for a public listing.

This large funding round comes amid rising political interest in crypto. Former President Donald Trump has become increasingly vocal about his pro-Bitcoin stance, adding fuel to speculation about how U.S. policy might evolve if he returns to office.

📈 Technical Outlook: BTC Faces Critical Resistance

While the market is pulling back, some analysts remain bullish on Bitcoin’s medium-term prospects. Ed Campbell of Rosenberg Research highlighted a key resistance level at $114K. A clear breakout above this threshold could trigger a 25% rally toward $143K, supported by strong ETF inflows, the possibility of Fed rate cuts later this year, and pro-crypto policy shifts in the U.S.

Traders are watching this level closely, as recent ETF products have added structural support to the market even during periods of volatility.

đŸ›ïž Regulatory Concerns: FATF Sounds the Alarm

Meanwhile, the Financial Action Task Force (FATF) issued a stark warning about global crypto regulation. In its latest report, the watchdog said only 40 of 138 jurisdictions have implemented recommended rules for crypto firms.

The FATF noted that illicit wallets received $51 billion in 2024 alone, underlining risks related to money laundering and terrorist financing. This regulatory gap could pose systemic risks if left unaddressed, and is likely to be a major theme in policy debates over the coming months.

📊 Record Monthly Close for Bitcoin

Despite the latest dip, June was a milestone month for Bitcoin, which posted its highest monthly close on record. However, the Euro surprisingly outperformed Bitcoin in June, as currency investors turned to euro-pegged stablecoins and other products.

Adding to the market’s growing complexity, the first U.S.-listed Solana staking ETF (tSSK) is set to debut on July 2 on Cboe, giving investors new ways to gain exposure to staking yields while maintaining regulatory clarity.

🔼 What to Watch Going Forward

‱ BTC at $114K: Will Bitcoin break resistance and ignite a 25% rally?

‱ American Bitcoin’s next moves: Will it pursue a public listing soon?

‱ Regulatory shifts: How will the FATF’s warnings influence lawmakers?

‱ ETF innovation: Will the Solana staking ETF attract strong institutional interest?

✅ Conclusion

The crypto market remains at a crossroads. While short-term selling pressure is visible, strong structural factors—including ETF demand, political interest, and technological innovation—continue to support the long-term narrative.

Traders and investors alike should brace for heightened volatility as the industry navigates evolving regulation, macro uncertainty, and technical resistance levels.