The crypto market is ready to move up to the next step

Daily Cryptocurrency expert market comment from FxPro Analyst Alex Kuptsikevich: The crypto market is ready to move up to the next step
FxPro | 1000 дней спустя

The crypto market is ready to move up to the next step

 

Market picture

The crypto market capitalisation has fallen by around 1% in the past 24 hours to $1.02 trillion, with Bitcoin losing around the same amount, trading at $20.4K. There is a wait-and-see attitude on the part of investors ahead of the Fed meeting, where all eyes are on signals of further actions.

Meanwhile, BTCUSD remains above its 50-day average and local highs from a month ago, creating expectations that the market is preparing to go to the higher step after some respite. The following significant levels are around $22.3K (September highs) and $24.3K (July-August highs and the 200-day MA). If the optimists are disappointed, the decline could accelerate markedly below $19.5K (50-day MA) and further below $19K (the global support area of the last five months).

For the time being, we are leaning more towards the upside scenario, assuming we see signs of a slowdown in rate hikes from the Fed starting in December.

 

News background

According to Santiment, addresses with balances between 100 and 10,000 BTC have accumulated over 45% of the total cryptocurrency supply. HODLers are not getting rid of accumulated coins yet, but they are not resuming buying either, so the BTC exchange rate has stagnated in recent months.

SEC head Gary Gensler congratulated the cryptocurrency community on the 14th anniversary of bitcoin's "whitepaper". This prompted a mixed reaction from users. Many of them accused Gensler of trolling and hypocrisy that he doesn't think about the development of the cryptocurrency industry.

Binance CEO Changpeng Zhao said he invested $500 million in Twitter to fix flaws hindering the project’s development and the introduction of crypto payments to the social network. According to him, Twitter is poorly monetised and has many technical problems, such as bots. However, despite the shortcomings, the platform has tremendous value.

 

By the FxPro Analyst Team 

Регулирование: FCA (UK), SCB (The Bahamas)
read more
Crude Pulls Back on Trade Uncertainty | 29th July 2025

Crude Pulls Back on Trade Uncertainty | 29th July 2025

WTI dipped below $66.50 as traders remained cautious ahead of US-China trade talks and the FOMC decision. Silver held near $38 amid easing tensions but awaits Fed cues. USD/CAD, NZD/USD, and equity indices consolidated in tight ranges as markets adopt a wait-and-see stance. Volatility may rise with upcoming central bank and trade developments.
Moneta Markets | 3ч 9мин назад
ATFX Market Outlook 29th July 2025

ATFX Market Outlook 29th July 2025

U.S. stocks finished mixed on Monday, with the S&P 500 advancing for a sixth consecutive session to reach another record close. The Nasdaq also hit a new all-time closing high amidst volatile trading, as investors gauged the impact of the US-EU trade agreement and prepared for key events later this week. The Dow Jones declined by 0.14%, while the Nasdaq increased by 0.33%
ATFX | 5ч 19мин назад
US data supports patient Fed, deal with EU boosts appetite

US data supports patient Fed, deal with EU boosts appetite

Dollar gains as data allow the Fed to stay in wait-and-see mode - US and EU secure trade deal, tariff clock is ticking for others - Wall Street at record highs amid trade optimism and better earnings - Pound slides after retail sales, yen retreats even as BoJ hike bets increase
XM Group | 22ч 36мин назад
Gold Declines as EU Strikes Trade Deal

Gold Declines as EU Strikes Trade Deal

Gold held steady at $3,330 per troy ounce on Monday following three consecutive days of declines. The metal faced downward pressure after news emerged of a trade agreement between the US and the EU, dampening investor interest in safe-haven assets.
RoboForex | 1 дней спустя