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We just received the first round (and only) of key US Data for this week with the ISM PMIs. Services keep dragging up the overall numbers, showing a 55.2 beat vs 53.0 expectations, while Manufacturing saw its first yearly decrease and now indicating contraction (49.0 vs 52.5 exp). The US Indices have opened mixed and have been moving a bit erratically amid some rewiring of flows, relative strength and Deal headlines. This is typical of the ongoing Earnings season. We will try to make some sense out of the price action by looking at all 3 majors US Indices' intraday charts – Dow Jones, S&P 500 and Nasdaq. Read More: USDJPY re-enters its range after US-Japan trade deal—will it hold? Intraday charts for all Major US IndicesDow Jones 30m Chart Dow Jones 30m Chart, July 24 2025 – Source: TradingView After testing the January all-time high levels (45,060) at the close but failing to breach it, some sellers have mean-reverted the action overnight, marking pre-open lows on the US 30 CFD at 44,692. Despite the contraction shown in manufacturing, some buyers are stepping in to test the overnight short-term downtrend – breaching above 44,920 on a 30m close would give them the extra hand they might be requiring to try to finally push to new ATH but watch if they fail to do so. Other indices would however need to follow higher to drag the index and buyers would have to get stronger to avoid profit-taking to settle in. A rejection of current levels would point towards a retest of the Immediate Pivot Zone near 44,650 and would consolidate the ongoing rangebound action. S&P 500 30m Chart S&P 500 30m Chart, July 24 2025 – Source: TradingView The S&P 500 has just been bullying through new all-time highs and has formed a decent looking upwards channel – Watch for the ongoing reactions at the Potential Resistance (6,395 to 6,400). MES futures did breach that zone easily, and with the current Services PMI Data, only a drag from the upwards channel and sellers in other indices would prevent that level to be achieved. Ongoing momentum is strong. Nasdaq 30m Chart Nasdaq 30m Chart, July 24 2025 – Source: TradingView The Nasdaq has formed an intermediate double top at its all-time highs (23,288 on its CFD) amid some shift in positioning towards other indices. The Index had been doing the same as the S&P, just blazing through all-time highs almost daily – Traders will have to breach the current highs if they want to keep the hand. A failure to do so may indicate some short-term correction taking place as the current top is located right at a higher timeframe 161.8% Fib extension (spotted in this previous Nasdaq analysis) There is some small ongoing buying to monitor. Parenthesis on interesting chart Source – Chris Stradele on X, Chart from CNN The CBOE Put/Call Ratio is at extremes with a huge proportion of Calls getting bought over Puts – A sign of extreme greed in the options market. I recall a 2022 Bear Market bottom on the exact reverse. You can check out the Put/Call Ratio right here. Safe Trades! Opinions are the authors'; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. The provided publication is for informational and educational purposes only. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please refer to the MarketPulse Terms of Use. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2025 OANDA Business Information & Services Inc.

The British pound has enjoyed a strong run this week but is in negative territory on Thursday. In the North American session, GBP/USD is trading at 1.3540, down 0.28% on the day. Over the past three days, the pound has jumped 1.3%, as the major currencies have gained ground against the US dollar. UK services dip, manufacturing contracts in JulyUK PMIs weakened in July, another sign of trouble in the UK economy. Services PMI dropped to 51.2, down from 52.8 in June and shy of the market estimate of 53.0. New orders were down and service managers pointed to weak domestic demand and a drop in exports due to global trade tensions. The manufacturing PMI posted a slight improvement in July, rising to 48.2 from 47.7. The reading was just above the market consensus of 48.0 and marked a six-month high, as manufacturing remains mired in contraction. New orders are down as businesses delay spending decisions due to uncertainty over US trade policy. The UK wraps up the week with retail sales on Friday. The markets expect a rebound in June after a dismal May, in which retail sales declined 2.7% y/y and 1.3% m/m. The market estimate is for gains of 1.8% y/y and 1.2% m/m. US services heat up, manufacturing declines In the US, Services PMI rose to 55.2 in July, up from 52.9 in June and above the market estimate of 53.0. This indicated strong expansion and was the fastest pace of growth in seven months. Manufacturing headed the opposite direction, falling from 52.6 in June, a 37-month high, to 49.5. This was the first contraction since December, with new orders and employment falling. GBP/USD Technical GBPUSD has pushed below support at 1.3560 and is testing support at 1.3535. Below, there is support at 1.3491There is resistance at 1.3560 and 1.3604 GBPUSD 1-Day Chart, July 24, 2025 Opinions are the authors'; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. The provided publication is for informational and educational purposes only. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please refer to the MarketPulse Terms of Use. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2025 OANDA Business Information & Services Inc.

Crypto markets awoke on Wednesday to the first meaningful bout of selling in more than a month, and Kev Capital TA did not sound surprised. In a late-night livestream, the analyst told viewers that Bitcoin’s failure to clear the “brick-wall” band between $120,000 and $123,000 had made an altcoin shake-out “the most obvious pullback spot ever,” capping four straight weeks of euphoric gains across Ethereum, Solana, Dogecoin, XRP and the rest of the sector. Crypto Bulls Crushed: Why Altcoins Ran Out Of Gas “Daily RSIs were at ninety on everything, including ETH, while Bitcoin was pinned under one-twenty,” he said. “That is a textbook sell wall. You don’t blast through that after running straight up for a month.” His chart of Total-2—the market-cap index that strips out Bitcoin—showed the gauge banging into the exact horizontal ceiling that had turned back altcoins in May, August and November 2021, again in December 2024, and once more in January this year. Each rebuff, he reminded the audience, had sparked corrections of 30-to-60 percent in the majors and far larger drawdowns in the speculative tail. Kev’s core message was that nothing in the current tape resembles a lasting top for the cycle. The move, he argued, is a pressure-release that clears excess leverage and restores “risk-free long exposure” for disciplined traders who skimmed profits on the way up. The fulcrum remains Bitcoin. Until the largest asset can establish weekly closes above the 1.0886 Fibonacci extension at $119,964, altcoins will “run out of gas.” He located initial Bitcoin support at $116,400, with deeper cushions at the $112–113k band and, in a worst-case flush, the $106.8k shelf. A break below the first of those levels “isn’t necessary” in his view, but he warned new entrants against treating a ten-percent dip in their favorite microcap as a buying opportunity: “If Total-2 drops another thirty percent, your altcoin is going down a lot more than ten.” Why, then, does he remain upbeat? Kev cited a confluence of on-chain and macro tailwinds that, in his back-testing, have never failed to resolve higher. Bitcoin’s weekly Hash Ribbons flashed a buy signal nine weeks ago and has advanced only eight percent since—far below the historical mean of thirty-eight to one-hundred-one percent that materialises two to nine weeks after the trigger. A second, still-pending buy signal is “coming within the next week or two,” stacking probabilistic odds in favour of a leg higher. At the same time, he noted, the Federal Reserve’s quantitative-tightening program is “barely selling anything on the balance sheet,” while Truth Inflation’s real-time gauge pins headline CPI at 2.0–2.1 percent. A spate of tariff de-escalations—including a tentative, across-the-board fifteen-percent cut in EU-US duties announced moments before he went live—suggests that inflation risks are skewing lower rather than higher. “As long as the macro stays quiet—low inflation, steady labour market, dovish policy projections—valuations can march north,” he argued, adding that upcoming earnings from Google, Tesla and the rest of Big Tech will feed directly into crypto multiples because “the guidance is correlated whether you like it or not.” Seasonality is the wild card. August and September are notoriously fickle for risk assets, a period he likened to “the biggest vacation month of the year and then back-to-school.” Yet he stressed that cyclicality alone cannot trump a supportive macro backdrop. Instead, he expects a period of choppy consolidation—anchored by Bitcoin’s tussle with $120k and the golden-pocket bounce in Bitcoin Dominance—before the market’s next sustained advance. “We are like the running back; the offensive line has opened the hole, but we haven’t burst through it yet,” he said. “If macro stays resilient, this is the year it finally happens.” His forward timeline therefore hinges on two visible catalysts: A decisive Bitcoin breakout above $123,000. When that prints on a multi-day close, he believes the four-year Total-2 ceiling will snap, unleashing capital rotation back into ETH and the broader alt market. “Everything leads back to Bitcoin,” he said. “Crack that wall and the catch-up trade reignites.” Second is the continuation of the benign macro mix through Q3. Should inflation hold near two percent and the Fed confirm an end-to-QT schedule in its September meeting, Kev projects the next Hash-Ribbons signal will “play out as violently bullish as the model has ever shown,” delivering what he calls the “last six-month window” of the cycle. Asked in chat “when this pullback will be over,” the analyst refused to pin a date on it. “I’m not looking at the clock,” he replied. “Time doesn’t matter; the levels do.” Still, his body language betrayed optimism: he plans no further sales, sees no need to add until volatility subsides, and—despite acknowledging August’s chop potential—spoke repeatedly about “riding what I have” into the final quarter of 2025. In other words, the cool-down now underway is less a bear-market omen than the mandatory breather before a potential breakout. Traders who missed the July run are advised to watch Bitcoin’s $116k and $112k buffers for signs of an exhaustion wick, monitor Bitcoin Dominance for a failure rally below sixty percent, and keep an eye on the next CPI print. If those dominoes fall in line, Kev Capital is confident the real fireworks—an altcoin surge that carries Total-2 into price discovery for the first time since 2021—will begin “sooner than most people think, and definitely while everyone’s still on summer holiday.” At press time, TOTAL2 stood at $1.44 trillion.

USDJPY hasn’t failed to generate some volatility in the past few weeks. The pair, which had seen some steep up moves since the beginning of July, has been met by some sharp realities for its bulls. Such Daily ranges are strong, and without weekly closes or a substantial fundamental change, Technicals indicate that they are expected to hold. In today’s analysis, however, we will try to spot if anything from the new situation emerging in Japan has the potential to create a real upside breakout or if the range is deemed to continue. Also we'll be monitoring the effect of the ISM PMI results on the pair – Services PMI Came in with a beat (55.2 vs 53.0 exp) and Manufacturing PMI missed (49.5 vs 52.5) The immediate reaction is one of an USD selloff but this is subject to change Read More: Pump-fake from the US Dollar — North American Mid-Week Market Update For a quick reminder, Japanese elections happened and the Ruling coalition (LDP + Komeito) lost its majority in the Upper House for the first time in a while. The present government had a lot of influence on the dovish policies from the Bank of Japan, and with the ongoing situation, Japan's PM Ishiba might have to depart from his functions (he indicated he should stay to treat with the US Deals) As a matter of fact, the Deal got reached yesterday, further confirming the newfound boost in the Yen that had already started to happen around the elections – There has been talks about the Deal not being implemented if "Trump is not happy" Scott Bessent said, but that would be a political mistake. PM Ishiba pledged to make sure that the deal concludes. Let's now take a look at the technicals to see if they indicate anything new to tilt the scales further. Can we learn anything new from Client Positioning? Trader Sentiment for USDJPY – July 24, OANDA Labs Positioning isn't giving us much – normally providing us with a decent contrarian indicator and with a small tilt long, the assumption would be for some small downside correction, however the difference in positioning is not so big. USDJPY Technical AnalysisDaily Chart USDJPY Daily Chart, July 24 2025 – Source: TradingView Momentum shut back to neutral after the past 3 sessions of US Dollar selloffs after rejecting the 200-Day Moving Average and participants will now be testing the Immediate 146.00 Pivot region. Any downside breach would see the 50-Day MA as support (currently at 145.20), with no other key zone for buyers to step in before the 142.00 Main Daily support. 4H Chart USDJPY 4H Chart, July 24 2025 – Source: TradingView Sellers regained some strength in the past few sessions and will have to push below the Pivot zone mentioned just before to further maintain the range. Some mean-reversion happened at the 4H-200 MA at 145.72 which will be a key barometer for immediate momentum (breach below, bearish – Holding above, bullish) There is some ongoing selling after the PMI data but some decent volumes would be required to retest the overnight levels. 30m Chart Looking closer to the 30m intraday timeframe, the rejection at the immediate downwards trendline after testing 146.87 highs in the morning session does show bearish momentum. Monitor reactions at the 146.00 level – some key intraday levels to place on your charts: Support Levels: Immediate intraday support 146.37 and 30m MA 50146.00 Pivot Zone (+/- 100 pips)Overnight lows 145.85Main Daily Support 142.00 regionResistance Levels: Morning swing high 146.8730m MA 200 147.20May Range extremes 147.50 to 148.00 Safe Trades! Opinions are the authors'; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. The provided publication is for informational and educational purposes only. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please refer to the MarketPulse Terms of Use. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2025 OANDA Business Information & Services Inc.

Bitcoin saw a modest retracement yesterday, dipping slightly but continuing to trade within a tight range between key support and resistance levels. While the broader altcoin market faces heightened volatility and notable losses, BTC remains relatively resilient, yet momentum appears uncertain. Analysts warn that if sentiment weakens, a broader correction could unfold. Top analyst Darkfost highlighted a critical dynamic now unfolding: the vulnerability of Short-Term Holders (STH). These investors, who entered the market during recent price surges, hold Bitcoin at significantly higher cost bases. As price action stalls or retraces, they’re typically the first to capitulate, creating increased selling pressure. With altcoins already under stress, all eyes remain on whether Bitcoin can hold above current support levels or if it, too, will start to crack under short-term selloffs. This phase could act as a stress test for recent buyers, while long-term holders and institutional participants continue to monitor key price zones. Key Realized Price Levels Suggest Bitcoin Structure Remains Bullish Darkfost has shared a chart offering a deep dive into Bitcoin’s realized prices across various holding cohorts, particularly focusing on Short-Term Holders (STHs). These metrics are proving crucial in identifying support zones that could be defended if the price continues to correct in the short term. The broader realized price for Bitcoin currently stands at $50.8K, while the annual average is significantly higher at $87.5K. More critically, the realized price for STHs—those who purchased coins recently—is positioned at $103.9K. Breaking this down further, we see realized prices by time held: STH 3m–6m: $88.2K STH 1m–3m: $104.1K STH 1w–1m: $113K These figures represent the average price at which different groups of recent investors acquired their coins. As such, they serve as psychological and technical support levels during corrections. With Bitcoin currently consolidating after a small retracement, bulls are eyeing these realized price zones to gauge whether the structure remains bullish. The $104K level, in particular, is essential—it aligns closely with the 1m–3m STH realized price and could serve as a decisive line for sentiment and price defense. If buyers can hold BTC above this level, the market’s bullish structure will likely remain intact, suggesting healthy consolidation rather than trend reversal. Conversely, losing it could trigger short-term panic selling among recent entrants. Bitcoin Price Analysis: Key Levels Hold After New Highs Bitcoin continues to consolidate in a tight range after setting fresh all-time highs earlier this month. As seen in the 3-day chart, BTC is holding above $115,724—a key horizontal support—and below immediate resistance near $122,077. This consolidation range has remained intact for over a week, reflecting both strong demand and hesitation near psychological resistance. Despite the recent small pullback, the overall market structure remains bullish. Price is trading well above the 50-day ($98,536), 100-day ($93,833), and 200-day ($76,201) simple moving averages, which continue to slope upward. This confirms strong medium- and long-term momentum. Volume has declined slightly during the current range-bound movement, indicating a pause after the aggressive rally from below $100,000. However, bulls are clearly defending the $115,000–$116,000 region, a zone that coincides with the top of the previous breakout. Featured image from Dall-E, chart from TradingView

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An abrupt XRP sell‑off by more than -15% on 23 July was driven overwhelmingly by aggressive market selling on South Korean exchange Upbit, according to independent analyst Dom (@traderview2), who published multi‑venue order book heatmaps and cumulative volume delta (CVD) data to X. “Korean market Upbit chose violence today on XRP,” he wrote, quantifying “Over 75 million XRP sold at market over the last 24 hours.” Why Did XRP Crash Yesterday? The spot CVD chart shared by Dom isolates net market buying and selling across major venues. While Binance, Coinbase, Bybit, OKX, Kraken and Bitstamp CVD lines remained comparatively flat to modestly negative, the Upbit CVD (purple line) plunged in a near‑one‑way trajectory to roughly –75 million XRP during the period, mirroring the intraday decline in the average spot price plotted alongside it. The analyst stated: “The pump AND dump was brought to you by Upbit… The orderbooks have been pretty empty, thus the quick move down today.” Concurrent order book heatmaps for Binance, Coinbase, Binance USDⓈ‑M perpetuals and Kraken show a sharp breakdown from recent highs above $3.5 toward the mid‑$3.1 area during the session. Visible liquidity pockets were thin above price, with bids clustering just below, consistent with Dom’s observation that depleted depth amplified the impact of the concentrated Upbit flow. He added that “We have reached some bids around $3, which I am monitoring now,” emphasizing that “I think we want that area hold to keep shorter term bull structure in tact.” The same source underscored that the Korean venue had also dominated the preceding upside phase. On 11 July, Dom attributed the earlier surge to localized demand: “XRP pump brought to you mainly by the Koreans on Upbit. Binance market tailing behind. All other venues basically flat (Coinbase barely participating). Nearly 30M $XRP market bought on top exchanges over the last hour.” That earlier burst of concentrated buying was later offset by the latest wave of concentrated selling, producing what he characterized as a “pump AND dump” sequence centered on Upbit’s order flow. Taken together, the data depict a two‑stage move in which initial Korean spot accumulation drove price expansion, followed days later by heavy Korean liquidation into a structurally thin global order book, accelerating XRP’s descent. Dom’s monitoring focus now rests on whether the identified bid interest around $3 can stabilize price and preserve the shorter‑term bullish structure he references. As of the charts published, that support zone remained the critical near‑term level. Notably, derivative positioning intensified the move: CoinGlass data shows that XRP futures long positions suffered approximately $82.8 million in liquidations yesterday, second only to Ether and ahead of Bitcoin, with total market long liquidations exceeding $630 million. This forced deleveraging likely compounded the spot pressure as cascading margin calls translated into additional market sell orders, reinforcing the rapid downside extension initiated on Upbit. At press time, XRP traded at $3.09.

EU ECB Main Refinancing Operations Rate: 2.15% vs 2.15% expected, meets consensusEU ECB Rate On Deposit Facility: 2.00% vs 2.00% expected, meets consensusEU ECB Marginal Lending Facility : 2.40% vs 2.40% expected, meets consensusECB Interest Rate (July 24th 2025): Eurozone ECB Main Refinancing Operations Rate, FXStreet 17/07/2025 Breaking: The European Central Bank (ECB) voted to maintain rates at ~2.15% in their July decision, meeting consensus. Otherwise, the rates on the deposit facility and the marginal lending facility were also held at 2.00% and 2.40% respectively. Having cut rates aggressively for much of 2025, the vote represents the first time in seven decisions where rates have not been lowered. Key takeaway: Citing a continued commitment to controlling inflation, the ECB has paused its current monetary easing cycle. While negotiations remain ongoing, US tariffs remain a large unknown for the EU economy, which has caused the ECB to become more hawkish compared to recent decisions. "The Governing Council today decided to keep the three key ECB interest rates unchanged. Inflation is currently at the 2% medium-term target. The incoming information is broadly in line with the Governing Council’s previous assessment of the inflation outlook. Domestic price pressures have continued to ease, with wages growing more slowly. Partly reflecting the Governing Council’s past interest rate cuts, the economy has so far proven resilient overall in a challenging global environment. At the same time, the environment remains exceptionally uncertain, especially because of trade disputes" Monetary Policy Decisions, ecb.europa.eu 24/07/2025 Market Reaction In the minutes following the release, when considering the result met consensus, the reaction remained somewhat muted. EUR/USD has risen by +0.02%, EUR/GBP by +0.03%, and EUR/JPY by +0.01%. Read more coverage on markets today: Markets Today: FTSE 100 Breaks Records as Euro Area Private Sector Growth Hits 11-Month Highs, ECB Meeting Ahead Opinions are the authors'; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. The provided publication is for informational and educational purposes only. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please refer to the MarketPulse Terms of Use. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2025 OANDA Business Information & Services Inc.

According to Arkham Intelligence, the US government still holds more than 198,000 Bitcoin. That’s around $23.4 billion sitting in digital wallets across several agencies. A recent public spreadsheet showed just 28,988.356 BTC under the Marshals Service. But looking at FBI, IRS, DEA and Justice Department seizures makes the total jump far higher. Government Stash Spread Across Agencies Based on reports from the Marshals Service, 28,988.356 BTC—worth roughly $3.45 billion—has been under its control since July 15, 2025. Other agencies don’t share that data publicly. They manage coins from crime probes and prize auctions. Arkham gathered on‑chain data and linked addresses tied to each agency. When added, the total hits at least 198,012 BTC. In everyday terms, that means the US is a massive bitcoin “whale” that still owns about 198,000 BTC. It’s not just sitting at the Marshals Service. The rest is spread out in hidden pockets. Those coins haven’t moved in the last four months. Traders who saw only the Marshals number panicked. Senator Cynthia Lummis even warned it would be a “total strategic blunder” if the reserves really fell below 30,000 BTC. Big Cases Make Up Most Holdings A huge chunk—114,599 BTC—came from the 2016 Bitfinex hack case against Ilya Lichtenstein and Heather Morgan. That haul alone counts for more than $13.65 billion. Silk Road‑related seizures add about 94,643 BTC. That breaks down into 51,680 BTC from James Zhong’s theft and 69,370 BTC linked to another hacker, sometimes called “Individual X.” Other cases help pad the total. Arkham spotted $81.25 million in BTC taken from Alameda Research’s Binance accounts after FTX collapsed. Another $79.50 million came from HashFlare scammers Sergei Potapenko and Ivan Turogin. Even small hits like 58.7 BTC from Ryan Farace’s case show up in the chain records. Sales Haven’t Touched Core Supply The US sold 9,861 BTC worth about $215 million in March 2023 from the Zhong case. In August 2024, another 10,000 BTC went for $594 million. Then in December 2024, 10,000 BTC sold for roughly $968 million. Despite that activity, the main piles from Bitfinex and Silk Road haven’t moved. Those coins still sit where seizing agencies left them. Without a single public ledger, each new FOIA release sparks fresh rumors. Some traders jumped at the Marshals figure and drove prices up or down on the news. But knowing the real 198,000 BTC figure could calm that. A master dashboard, updated in near real time, would help cut the drama when auctions roll around. Featured image from Getty Images, chart from TradingView

After hitting above $3,800, the Ethereum price seems well on track for the next phase of the cycle. The ongoing trend has been closely mirroring what was seen back in 2016-2017 before the surge that sent the altcoin’s price to new all-time highs. This remains a major deal given that if the trend does play out similarly to what was seen in the 2017 cycle, then it means that the Ethereum price rally is only just beginning. Ethereum Price Mirrors Bullish 2017 Back in 2017, before the bull market, the Ethereum price had struggled to stay on track with the Bitcoin price. This resulted in a lag as the price kept taking a beating with each uptrend. In the end, the Ethereum price ended up ranging for a while, with two fakeouts before the price was able to eventually breakout. Similarly, the Ethereum price has ranged for the last year, with multiple fakeouts that have already kept the price low. Just like 2017, again, a crash sent the altcoin’s price down by almost 50% to create what seemed to be the perfect bear trap, as illustrated in this chart by crypto analyst Merlijn The Trader on X (formerly Twitter). The analyst points out these similarities in the Ethereum chart, showing that the same range, fakeout, and breakout have now played out for the cryptocurrency just like they did in 2016-2017. Given this, it is likely that the next phase in the trend will also follow the 2017 playbook. After the bear trap and eventual breakout in 2017, the Ethereum price had rallied by 5,000%, going from under $8 to over $250 in less than one year. Applying a similar breakout structure to Ethereum in 2025 would mean rising as high as $40,000. However, adjusting for how high the market cap currently is, a conservative target would mean that the Ethereum price is at least able to cross the $10,000 level, which would be only a 200% increase from its current level. Applying the same timeframe as in 2017 would mean that it could play out in the next six months. Additionally, Ethereum now has something that it didn’t have back in 2017, and that is institutional backing. Presently, Ethereum is quickly becoming a favorite among institutional investors as ETH treasury companies have poured over $7 billion into the altcoin, according to data from The Block. In July 2025 alone, over $2 billion has flowed into Spot Ethereum ETFs, showing a ramp-up in institutionalized interest. Due to this rise in institutional investments, Merlijn The Trader has explained that institutions are now the ones behind the wheel with the same setup from 2017. This suggests higher liquidity as these major players are expected to drive and determine the ETH price this cycle.

Teck Resources’ (TSX: TECK.A, TECK.B)(NYSE: TECK) board has approved a C$2.1–C$2.4 billion ($1.6 -$1.8 bn) project to extend the life of its Highland Valley Copper Mine (HVC) in British Columbia, securing operations at Canada’s largest copper mine into the mid-2040s. Construction on the mine life extension (MLE) is set to begin in August. The Vancouver-based miner expects the expansion to support average annual production of 137,000 tonnes of copper through the remainder of the mine’s life. “This extension is foundational to our strategy to double copper production by the end of the decade,” President and CEO Jonathan Price said. “Given the strong demand for copper as an energy transition metal, the HVC MLE will generate a robust internal return rate (IRR) and secure access to this critical mineral for the next two decades.” The board’s green light follows B.C.’s approval of the project’s environmental assessment certificate last month. The project includes a major pushback of the Valley pit to access higher-grade ore, along with infrastructure upgrades: expanded mine fleet, grinding circuit enhancements, increased tailings capacity, and improved power and water systems. Teck says the project will create roughly 2,900 construction jobs and support 1,500 ongoing roles once operational. Price also emphasized the project’s role in strengthening Canada’s critical minerals sector and stimulating economic activity in the region. The fresh capital estimate reflects current construction risks, inflation, potential impact of tariffs, and early procurement of mobile equipment. It includes built-in contingencies and opportunities for cost optimization as work progresses, Teck said. The HVC expansion forms part of Teck’s broader $3.9 billion investment plan to boost copper output to 800,000 tonnes annually by 2030.

Asia Market Wrap - Sentiment on the Up Global stocks hit a new record high, boosted by a 1% rise in Asia. Japanese markets surged up to 2%, driven by strong performance in the financial sector, while the yen strengthened as investors believed a trade deal could lead to an interest rate hike. Nasdaq 100 futures climbed 0.3% after Alphabet's earnings, but Tesla shares fell in after-hours trading due to a weak forecast. Easing global trade tensions have calmed investors, reducing fears of a long trade war and driving market gains. Many believe the US will take a practical approach to avoid tariffs significantly hurting company profits. President Trump hinted he wouldn’t lower tariffs below 15% as he prepares new trade rules before the August 1 deadline. For a more in depth look at the Asian session, read Asia midday: Asian stocks rise on AI optimism, US-EU trade hopes, EUR/GBP (Chart of the day) bullish trend intact as ECB looms Euro Area PMIs The HCOB Eurozone Composite PMI rose to 51 in July 2025, up from 50.6 in June, showing the fastest growth in private economic activity in 11 months and slightly beating expectations of 50.8. The growth was driven by stronger performance in the services sector (51.2 vs 50.5 in June) and a near recovery in manufacturing (49.8 vs 49.5), which had its least negative result in three years. New orders remained steady, ending 13 months of decline, which helped boost output in both sectors. This positive trend in new business encouraged companies to hire more staff for the first time in five months. On prices, input costs rose at a slower pace, allowing firms to keep their prices steady after two months of cuts. However, business confidence dipped slightly, likely due to ongoing concerns about US tariff threats. European Open - US/EU Trade Negotiation, ECB Meeting Optimism about a trade deal pushed global stocks to new record highs on Thursday. This came ahead of key global economic data, a European Central Bank meeting, and an unexpected visit to the Federal Reserve by US President Donald Trump. Reports that the EU and US were nearing a deal on 15% tariffs, with exceptions for some industries, followed a recent agreement with Japan. This boosted the MSCI world stock index for the seventh day in a row. In Europe, the positive trend continued as Germany's DAX index, which relies heavily on exports, rose over 1%, and the STOXX regional index gained 0.6%. Deutsche Bank's better-than-expected results sent its shares up more than 4%, lifting banking stocks to their highest level since the 2008 financial crisis. However, Nestle's shares dropped 4.5% after it announced its first-half results and plans to sell one of its businesses. The pound fell by 0.28% to 1.3544 after reaching a two-week high of 1.3588 earlier in the session. The dollar gained slightly against the euro and yen following progress in trade talks. The pound also weakened against the euro, which dropped 0.16% to 86.81. Last week, the euro reached 86.98, its highest level since April 11. Currency Power Balance Source: OANDA Labs In commodity markets, oil prices went up as traders speculated that recent trade deals would boost global growth. Prices also rose due to a bigger-than-expected drop in US crude stockpiles. US crude increased by 0.52% to 65.59 per barrel. Meanwhile, gold prices dipped slightly to $3,370 per ounce as investors showed more interest in riskier assets, reducing demand for safe-haven options like Economic Data Releases and Final Thoughts Looking at the economic calendar, we are finally getting some high impact later today. First we have the ECB meeting where the Central Bank is expected to keep rates on hold, with 90% probability based on LSEG data. Earnings season continues today and then later in the US session we will get the latest PMI numbers from the world's largest economy as well. This will be the first glance for market participants from the mag 7 stocks which could stoke some interesting market reactions depending on the release. For all market-moving economic releases and events, see the MarketPulse Economic Calendar. (click to enlarge) Chart of the Day - FTSE 100 Index From a technical standpoint, the FTSE 100 index has continued its rise with an amazing four-hour candle close this morning. Improved trade deal sentiment and the impressive rally on Wall Street could be the driving force. The FTSE is now comfortably in overbought territory and we are seeing a slight pullback this morning. Immediate support rests at 9110 before the 9048 and 9000 handles comes into focus. The upside does not have any historical data to focus on and thus I will look toward psychological numbers like 9250 and potentially 9500. FTSE 100 Daily Chart, July 24. 2025 Source: TradingView.com (click to enlarge) Follow Zain on Twitter/X for Additional Market News and Insights @zvawda Opinions are the authors'; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. The provided publication is for informational and educational purposes only. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please refer to the MarketPulse Terms of Use. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2025 OANDA Business Information & Services Inc.

The Japanese yen posted gains earlier but failed to consolidate. In the European sesssion, USD/JPY is trading at 146.57, up 0.07%. Earlier, the yen strengthened to 145.83, its highest level since July 10. Japan's services expands but manufacturing contracts Japan posted mixed PMIs for July. Services expanded for a fourth consecutive month, rising to 53.5 from 51.7 in June and easily beating the forecast of 51.3. This marked the fastest pace of growth since February. Still, employment rose slowly and exports declined due to the uncertainty over US trade policy. The manufacturing sector reverted back to contraction after marginal expansion of 50.1 June. The reading of 48.8 missed the forecast of 50.2 and marked the lowest level in three months. The decline in output was driven by weaker exports as businesses remained cautious due to trade tensions. Markets cheer US-Japan agreement The financial markets cheered the news of a US-Japan trade agreement after months of tough negotiations. Under the deal, most Japanese products will be subject to a 15% tariff, the best deal that a nation with a trade surplus with the US has negotiated with Washington. Japan has agreed to purchase more US rice and invest up to $550 billion in the US. Japanese stock markets hit a 1-year high after the news and Bank of Japan Deputy Governor Shinichi Uchida said that the deal would reduce uncertainty and hinted at another rate cut before the end of the year. Japan releases Tokyo Core CPI, one of the BoJ's preferred inflation indicators, on Friday. In June, Tokyo Core CPI slipped to 3.1% y/y, down sharply from 3.6% in May, the first slowdown since February. The downward trend is expected to continue, with a consensus of 3.0%. USD/JPY Technical USD/JPY is testing resistance at 146.62. Above, there is resistance at 147.171.4602 and 145.52 are the next support levels USDJPY 1-Day Chart, July 24, 2025 Opinions are the authors'; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. The provided publication is for informational and educational purposes only. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please refer to the MarketPulse Terms of Use. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2025 OANDA Business Information & Services Inc.

Overview: With a US-Japanese deal in hand, and the prospects of an extended tariff truce between the US and China, many perceive some tail risks associated with the US foreign economic policy have diminished. This has encouraged the animal spirits and helped drive equity prices higher. The dollar is mixed. The uptick in Australia's PMI and cautionary comments from the governor of the Reserve Bank of Australia have helped lift the Australian dollar to new highs for the year and puts it atop the G10 performers today. On the other hand, a disappointing UK PMI pushed sterling down around 0.25% today and is the laggard among the G10 currencies. Emerging market currencies are mixed. Thai-Cambodia clashes weigh on the baht. The PBOC set the dollar's fix at a new low since last November, and the greenback recorded a new low for the year against the offshore yuan (below CNH7.15) before recovering. Australia, South Korea, and India are exceptions in the rally in Asia, which saw the Nikkei extend yesterday's rally with another 1.6% gain today. The MSCI Asia Pacific Index was up about 0.8% today. Europe's Stoxx 600 gapped slightly higher today and is up about 0.65% after rising nearly 1.1% yesterday. The S&P 500 and Nasdaq futures are trading firmly. Bond markets are under pressure. In Europe, benchmark 10-year rates are mostly about three basis points higher, though the 10-year Gilt yield is nearly flat. While the 10-eyar JGB yields edged up to almost 1.60%, the yields on the 30- and 40-year JGBs soften a bit. The 10-year US Treasury yield is up a little more than a basis point to approach 4.40%. Gold reversed lower after reaching almost $3439 yesterday and settled slightly above $3387. It has been sold to nearly $3362 today. The week's low, set Monday, was around $3345. September WTI is recovering from yesterday's dip below $65 and is trying to find footing above $66 today. The 200-day moving average is slightly above $66. USD: The Dollar Index overshot the (61.8%) retracement of this month's gain, seen near 97.35 to fall to a little below 97.20. It slipped to 97.10 today but is hovering around 97.40 in late European morning turnover. The US reports weekly jobless claims, which have fallen for the past five weeks, the longest decline since Aug-Sept 2022. However, next week's non-farm payroll report has more heft, and the early call is for job growth to have slowed (~115k vs. 147k in June) and for the unemployment rate to have risen (4.2% vs. 4.1%). Also, on tap today are new home sales, which are expected to stabilize after a heady 13.7% decline in May. The preliminary PMI is also due. The manufacturing PMI may slip for the first time since March. The services PMI may pare the 0.8% fall in June. The composite (output) PMI is seen easing for the second consecutive month. EURO: The euro held above $1.0710 yesterday and ratcheted up to$1.1775, a 12-day high, helped by creeping optimism that a trade deal will be struck. It reached $1.1780 today before pulling back to almost $1.1745. The high set earlier this month was closer to $1.1830, which had not been seen since September 2021. The flash July PMI was slightly firmer sequentially, but the manufacturing sector continues to contract, albeit slowly (49.8 vs. 49.5). Yet the PMI has risen for the seventh consecutive month and has not been above 50 since Russia's invasion of Ukraine in early 2022. Services activity is improving. The 51.2 reading (50.5 in June) is the best since January. The composite edged higher for the second consecutive month, and at 51.0 (50.6 in June) matched the highest level since May 2024. It has held above 50 this year after 2024 finished at 49.6. The German economy appears to be struggling to sustain the upside momentum. The composite PMI slipped slightly (50.3 vs. 50.4 in June) after dipping to 48.5 in May, though the manufacturing and services PMI ticked up. The French PMIs, the manufacturing, services, and composite PMI, remain below 50. The French composite PMI has not been above 50 since last August (which was a one-month wonder). It stands at 49.6 (49.2 in June). The ECB meeting is as much of forgone conclusion as these things get. There is practically no chance of a change in policy with the deposit rate at 2%. ECB President Lagarde is unlikely to provide much forward guidance, but the market sees the central bank on hold until at least the end of the December meeting. The swaps market has about a 50% chance of a September cut and about a 65% chance of a cut at the end of the October meeting. Lastly, the EU-China summit today may be important in the bigger picture but does not seem impactful today. CNY: Many, if not most observers, share our understanding that the PBOC's daily dollar fix is the chief way that Beijing manages the exchange rate. With Chinese exporters earning dollar revenue in a weakening dollar environment, it is not surprising that they are repatriating earnings and buying yuan. This leaves the banks as sellers of yuan and buyers of dollars. Yet, when some observers read media reports of state-owned banks buying dollars, they conclude it is "stealth intervention." We recognize two developments: First, the PBOC has adjusted the dollar's daily reference by a larger magnitude than at the start of the year. Second, since mid-April, the PBOC has been fairly steadily lowering the dollar's fix, and it is now the lowest since last November. Today's reference rate was set at CNY7.1385 (CNY7.1414 yesterday). The dollar was sold to a new low for the year against the offshore yuan near CNH7.1440 today before recovering to new session highs near CNH7.1545. The five-day moving average is slipping through the 20-day moving average. Note that the CNH7.1460 area corresponds to the (61.8%) retracement of the dollar's rally from last September's low (~CNH6.97) to April's high (~CNH7.43). JPY: The dollar slipped in early North American turnover yesterday to almost JPY146.10. It eased below the 20-day moving average (~JPY146.20) for the first time in a couple of weeks. The mild follow-through dollar selling today met the (50%) retracement target of the rally from the July 1 low seen slightly below JPY145.95. The (61.8%) retracement is near JPY145.15. While many have focused on the trade agreement that brought down the reciprocal tariff and auto tariff to 15% from 25%, the agreement of $550 bln in direct investment is also significant. The details have not been published but consider that Japanese direct investment in the US tends to average $30-$40 bln a year. That includes retained earnings, while the new deal appears to envisage greenfield investment. And note that as of the end of 2024, Japan's stock of direct investment in the US was worth around $755 bln. The FDI commitment is around 18% of Japan's GDP. Meanwhile, the preliminary July composite PMI was steady at 51.5. The high for the year was seen in February at 52.0. The composite PMI was at 50.5 at the end of 2024. The manufacturing PMI rose above 50 in June for the first time since June 2024 but fell back below it in July (48.8). The services PMI jumped to 53.5 from 51.7. Its peak was also in February (53.7). Lastly, note that the swaps market is feeling more confident of a rate hike late this year. A little more than two weeks ago, the swaps market had about 10 bp of tightening discounted. It now stands at 21 bp, the most since early April. GBP: Sterling rose for the third consecutive session yesterday and briefly traded to almost $1.3585. It reached the (50%) retracement target of the decline from the July 1 high. That retracement, near $1.3575, is above the 20-day moving average (~$1.3570). It has been turned back from almost $1.3590 today. Initial support is seen near $1.3515-20. The preliminary July composite PMI fell for the first time in three months to 51.0 from 52.0, which is the year's high. The manufacturing PMI rose for the fourth consecutive month to 48.2 (from 47.7). It has not been above 50 since last September. The services PMI eased to 51.2 (from 52.8). One might not know it by looking at the PMI, but the UK monthly GDP contracted in April and May, and after growing by 0.7% in Q1, the median economists forecast in Bloomberg's survey is for a 0.1% quarter-over-quarter expansion in Q2. CAD: The US dollar recovered yesterday after it was initially sold to almost CAD1.3575. The year's low was set in mid-June near CAD1.3540 and this month's low was about CAD1.3555. On the bounce, the greenback reached around CAD1.3635, but it finished little changed around CAD1.3600. Options for around $380 mln expire there today. The CAD1.3650 area is the (38.2%) retracement objective of the US dollar's pullback from last week's high (~CAD1.3775). The 20-day moving average is slightly higher (~CAD1.3660) and the (50%) retracement is about CAD1.3675. Canada reports May retail sales today and StatsCan warns of the largest decline since the 1.2% decline in May 2024. Excluding autos, it may be the third consecutive decline, a streak not seen since the early days of the pandemic. Still, with the central bank having front-loaded rate cuts, there is little chance of a cut next week when the Bank of Canada meets (July 30). AUD: The Australian dollar reached a new high for the year today near $0.6625. Recall that last Wednesday, the Aussie recorded the month's low near $0.6455. It settled firmly yesterday, slightly above $0.6600. The daily momentum indicators are mixed and there appears to be little resistance ahead of the $0.6700-$0.6715 area. Two developments have helped support the Aussie today. First, Australia's preliminary composite July PMI rose to a new high for the year 53.6 (vs. 51.6 in June). It is a new cyclical high. The manufacturing PMI quickened (51.6 vs. 50.6) to snap the deterioration of the past three months. The services PMI also stands at a new high for the year (53.8 vs 51.8). Second, central bank Governor Bullock seemed to signal caution with her emphasis on the “measured and gradual" approach to the easing cycle. Still, the market has little doubt that the Reserve Bank of Australia will cut rates at next month's meeting and deliver at least one more cut in Q4. MXN: Mexico reports CPI for the first half of July. Economists in Bloomberg's survey expected the third consecutive year-over-year decline in the bi-weekly reading and first sub-4% reading since the second half of April. In fact, if the median forecast in the survey is accurate (3.61%), it would be the lowest since the end of January. The overnight target rate is 8.0% and the swaps market anticipates a quarter-point rate cut before the end of the year. For the sixth consecutive session, the dollar recorded a lower high against the peso. Yesterday, it stalled in front of MXN18.6854. The low, slightly above MXN18.5250, is a new low for the year. It is in an exceptionally narrow range today (~MXN18.53-MXN18.5525). There may be psychological support around MXN18.50, but we suspect the MXN18.35-MXN18.40 area is a reasonable target. Latam currencies were the top three performers among emerging market currencies yesterday (BRL +0.85%, COP +0.75%, and MXN + 0.60%). Disclaimer

Dogecoin (DOGE) has retraced alongside the rest of the market to retest a crucial level as support. Some analysts suggest that holding its current price range would set the stage for reclaiming the next key area. Dogecoin Retests Breakout Levels On Wednesday, Dogecoin momentum saw a momentary pause as Bitcoin and most of the market’s rally slowed down. The leading memecoin has recorded a massive run over the past week, increasing over 25% in the last seven days. At the start of the month, DOGE recovered from the June pullback and climbed to the $0.20 level for the first time since May. After reclaiming this crucial level mid-July, the cryptocurrency consolidated around this area, building a base before resuming its bullish run last Wednesday. Over the weekend, Dogecoin broke out of the $0.23-$0.24 resistance, soaring past the May highs to hit the $0.28 area on Monday. The token near this level on Tuesday, hovering between the $0.26-$0.27 price range. However, today’s pullback saw the memecoin drop approximately 9% in the daily timeframe and retest its breakout level around the $0.23 mark. Despite the correction, crypto analyst Kaleo affirmed that “If you’re not stacking Dogecoin on the retest of this breakout, you’re wrong.” The analyst highlighted that the token is repeating its Q4 2024 performance, when it retested its breakout level as support before starting the explosive rise to its multi-year high of $0.48. Amid the retracement, Ali Martinez also asserted that DOGE is retesting the neckline of its double bottom pattern, situated around the $0.25 mark. To the analyst, “This is a key support zone that could offer a solid entry point before the next leg up.” Notably, he previously suggested that as long as the token holds this area as support, a rally toward the $0.33-$0.40 is likely, adding that the next major resistance barrier is at $0.36. DOGE Weekly And Monthly To Determine Next Move Rekt Capital noted that Dogecoin has successfully retested its multi-year technical uptrend as support, which enabled its rally to the upside. He explained that price is currently “pressing beyond its pre-halving highs,” around the $0.22 level. A monthly close above this area would position Dogecoin price for a post-breakout retest of this level as support in August. The analyst highlighted that DOGE’s Pre-Bitcoin halving levels are confluent with the neckline of the double bottom pattern recorded in the Weekly chart. Rekt Capital explained that “any dips on the Weekly timeframe into the ~$0.22 region would figure a post-breakout retest attempt of the Double Bottom to fully confirm a breakout, whereas on the Monthly any dips would figure as a key technical milestone to finally turn Pre-Halving highs into new support.” Nonetheless, Dogecoin’s re-challenge of the $0.27 resistance depends on the success of the ongoing retests, as it would signal that this area is weakening as a rejection point and making a reclaim more likely during the next attempt. As of this writing, Dogecoin is trading at $0.24, a 54% increase in the monthly timeframe.

Zora crypto is up 80%, pushing July gains to over 650%. This spike follows its integration with Base via the Base App. Brian Armstrong of Coinbase has reportedly deployed a coin. On a day when Bitcoin, Ethereum, and some of the best cryptos to buy retraced, with Bitcoin dropping below $118,000, Zora crypto soared, posting double-digit gains. By the close of the July 23 trading session, ZORA, the token powering Zora, surged a massive 80%, outperforming even some of the top Solana meme coins battered by declining crypto prices. DISCOVER: The 12+ Hottest Crypto Presales to Buy Right Now Zora Jumps 80%, Up 650% in July 2025 The uptrend remains, and with ZORA2 (No data) crypto defying market trends, the token is easily outperforming even some of the top Solana meme coins. From the daily chart, based on MEXC data, Zora is trading at near all-time highs. It surged 80% yesterday and boosted July gains to over 650%. Although trading volume has decreased since the climactic surge on July 21, buyers remain firmly in control, pressing forward despite possible profit-taking. ZORA2PriceZORA224h7d30d1yAll time Coinglass data shows that traders across multiple exchanges, including Bybit and Hyperliquid, are flocking to this top performer. In the past 24 hours, trading volume soared to over $780 million, rising 160%. Meanwhile, open interest stands at over $42 million. (Source: Coinglass) Why Is Zora Rallying? Base Integration Zora is rallying following its integration with Base, an Ethereum layer-2 platform developed by Coinbase, a leading crypto exchange. This integration introduced Creator Coins on Base. Notably, this development follows Base’s launch of the Base App, a dApp designed to change content tokenization by integrating Zora’s infrastructure with Farcaster, a decentralized social media protocol. Reportedly, Brian Armstrong, the founder of Coinbase, discreetly launched his “meme coin,” Base Shake, on Zora. DISCOVER: 13 Best Crypto Presales to Invest in July 2025 – Top Token Presales Zora Crypto Spikes 80% After Base Integration Zora crypto up 80% in 24 hours Bulls in control as Zora pushes July gains to over 650% Zora integrates Base via the Base App Creator Coins trading activity explodes The post Zora Crypto Surges 80% After Base Integration: Will the Rally Last? appeared first on 99Bitcoins.

A new report from Glassnode has revealed a historically significant Ethereum level that could mark the start of an overheated phase if breached. Ethereum Is Moving Towards Active Realized Price In its latest weekly report, the on-chain analytics firm Glassnode has talked about some valuation models for Ethereum. The models in question are the Realized Price, True Market Mean, and Active Realized Price. The first of these, the Realized Price, refers to the average cost basis or acquisition price of all tokens of the cryptocurrency that are currently part of the circulating supply. The other two models, the True Market Mean and Active Realized Price, also aim to find the network cost basis, but both of these exclude for the long-dormant coins. Such tokens are likely to be lost due to missing wallets keys, so they aren’t part of the economic supply. Thus, these models may provide for a more accurate measure of the market situation than the Realized Price. Now, here is a chart that shows the trend in the three on-chain pricing models for Ethereum over the last few years: As displayed in the above graph, the Ethereum Realized Price, True Market Mean, and Active Investor Price are situated around $2,100, $2,500, and $3,000, respectively. This means that at ETH’s current spot value, all models agree that the holders as a whole are in the green. But now that the asset has escaped above these lines, what could be next? “In order to gauge upside targets for this ETH rally, we can turn to the +1 standard deviation band of Ethereum’s Active Realized Price,” notes Glassnode. The +1 standard deviation (SD) band of the indicator happens to be where selling pressure has intensified in the past. The reason behind the trend may lie in the fact that investor profits become significant beyond this boundary, so mass selloffs with the purpose of profit-taking can become more likely to take place. Below is a chart that shows where this level currently lies for ETH. From the graph, it’s visible that the Ethereum Active Realized Price +1 SD is located at $4,500 today. ETH is currently still at a distance from the level, but if its recent bullish push continues, it might end up retesting it. In the current cycle so far, ETH has tested the boundary once, in March 2024. Back then, the cryptocurrency found rejection at it. In the 2021 bull run, the coin was able to surge past it, but in doing so, it kicked off the unsustainable euphoria market phase. “As such, $4,500 can be identified as a critical level to watch on the upside, especially if Ethereum’s uptrend continues and speculative froth builds further,” explains the analytics firm. ETH Price At the time of writing, Ethereum is floating around $3,600, up almost 7% in the last seven days.

If you want to remove AI from Google Search, here’s how. Google is a million ads in a trench coat. You may not have noticed, but your brain did. Google has pulled the wool over our eyes: the platform is a swamp of ads, SEO, and articles written by robots. Thankfully, with the rise of Web3 and other alternatives, it has never been easier to escape AI. Here are the best ones out now: Reddit: The Easiest Option Now, don’t get us wrong, the internal Reddit search function is horrendous. However, you can find some fantastic content if you use an external website like Google or Bing and add Reddit at the end. In fact, you could have found out about BTC ▲0.41% or ETH ▼-0.73% way before they ever got popular on internet forums like Reddit and 4chan. (Source) “Best laptops working from home” reddit “Best food in Hanoi” reddit “Should you tip at Starbucks?” Reddit Adding “Reddit” to your query also makes the results more human and provides a quick, easy answer. Brave Browser: The Best Web3 Option Engineered by the mind behind JavaScript, Brave Browser blocks ads, trackers, and malicious sites that Google constantly pushes onto its users. They also uses their own search engine and cryptocurrency called Brave Search and BAT token, respectively. (BATUSDT) I’m not sold on their monetization through advertisements; however, Brave is the best all-around option: clean, fast, secure and Web3 focused. Yandex: Brought to you by Mother Russia Now we’re in territory where you’re asking yourself, “Yandex? Is he making this sh*t up?” Nope. Yandex, the search engine of Russia, has been around since 1997, and when it comes to ease of use, it is unparalleled. Look at how clean these results are: Since Russia is at war with the West, you should be warned that Russia could mine your data here. But Google does the same so pick your poison …because damn, are those search results sleek. X / Twitter: The Best in 2025 X is also muscling into Google’s turf with Grok’s ability to pull real-time insights from X posts and the web. Hell, someone just livestreamed the South Park season 27 premiere; X has the energy of Reddit in 2010. In July 2025, X rolled out Grok 4 which came with better reasoning, image generation, anime, and a $200 million Defense Department contract to bring Grok to the military. Who knows where that leads?! In 2025, brief, concise answers, preferably by a human or something that acts very close to it, is what we want. With these options, you get that. EXPLORE: Tether CEO Paolo Ardoino Hopes For Net Positive From US Elections, Says Bitcoin Strategic Reserve Is A Great Idea: 99Bitcoins Exclusive Join The 99Bitcoins News Discord Here For The Latest Market Updates Key Takeaways If you want to remove AI from Google Search, here’s how. Google is a million ads in a trench coat. You may not have noticed, but your brain did. Google has pulled the wool over our eyes: the platform is a swamp of ads, SEO, and articles written by robots. The post Now that Google is Dying, Here Are Better Alternatives (Remove AI From Google Search) appeared first on 99Bitcoins.

Bitwise made it through the front door, only to get shoved down the hallway and told to screw off. On Tuesday, the SEC’s trading division approved a first-of-its-kind multi-crypto ETF before the agency’s top brass froze it. The pause came via Rule 431, a procedural tool used when internal consensus is polarized. Is this the deliberate slowing down of cryptoization in America? “SEC Division of Trading & Markets has approved the Bitwise 10 Crypto Index ETF… However, like with the Grayscale Digital Large Cap ETF, this approval order is stayed.” — Nate Geraci, President of Novadius Wealth Management What’s Inside the Bitwise 10 ETF? The Bitwise 10 ETF would track a basket of top digital assets, weighted by circulating market cap. As of June 30, 2025 here’s how the ETF looks: BTC ▲0.41% dominated the index at 78.72%. Followed by ETH ▼-0.73%at 11.10%. XRP (4.97%) and Solana (3.03%) filled out the next tier Smaller slices allocated to ADA, SUI, LINK, AVAX, LTC, and DOT. At least 85% of the ETF’s holdings will stay within SEC-approved crypto ETFs, while the rest will go to newer tokens still waiting on greenlights. Coinbase Custody will hold the coins, and Bank of New York Mellon handles the fiat. A New Pattern of “Approval-with-Hesitation”? The SEC’s latest stall has reignited criticism that the agency is dragging its heels, even as the crypto sector builds the infrastructure regulators once demanded. “IMO, both of these should be allowed to convert/uplist asap. Bizarre situation.” — Nate Geraci, Novadius Wealth Despite the pause, the Bitwise 10 ETF checks every institutional box: secure custody, real-time pricing, compliance-ready structure. That makes the delay harder to justify, especially as demand for regulated crypto exposure climbs. The product isn’t dead, but stuck in bureaucratic limbo for now. EXPLORE: Tether CEO Paolo Ardoino Hopes For Net Positive From US Elections, Says Bitcoin Strategic Reserve Is A Great Idea: 99Bitcoins Exclusive Join The 99Bitcoins News Discord Here For The Latest Market Updates Key Takeaways On Tuesday, the SEC’s trading division approved a first-of-its-kind multi-crypto ETF before the agency’s top brass froze it. Despite the pause, the Bitwise 10 ETF checks every institutional box: secure custody, real-time pricing, compliance-ready structure. The post Bitwise ETF: SEC Gives Greenlight, Hits Pause Button Hours Later appeared first on 99Bitcoins.

Join OANDA Market Analyst Kenny Fisher, Nick Syiek (TraderNick) and podcast host Jonny Hart as they review the latest market news and moves. MarketPulse provides up-to-the-minute analysis on forex, commodities and indices from around the world. MarketPulse is an award-winning news site that delivers round-the-clock commentary on a wide range of asset classes, as well as in-depth insights into the major economic trends and events that impact the markets. https://open.spotify.com/episode/22PnheK2NyNSv0QlyZdhbL?si=edrEMoOKQsOKk-CuEGg_FQ Opinions are the authors'; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. The provided publication is for informational and educational purposes only. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please refer to the MarketPulse Terms of Use. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2025 OANDA Business Information & Services Inc.

The price of PUMP has nosedived after co-founder Alon Cohen revealed that the highly anticipated airdrop isn’t happening anytime soon. The announcement came during an interview with ThreadGuy and immediately triggered a wave of panic selling. The crash also comes amid broader market weakness, with Bitcoin hovering just above $117,000 and investors closely watching its next move. Altcoins are losing steam: XRP is down 12%, Solana has dropped 8%, while Ethereum is holding up slightly better with a 3% dip. Within hours of Alon’s statement, two early investor wallets offloaded a combined 1.25 billion PUMP tokens, worth around $3.81 million, at an average price of $0.00305. According to on-chain data, the whales exited with over $1.19 million in realized losses. This strong sell-off wiped out short-term gains after PUMP had found a temporary floor near $0.0036 earlier in the week. The token is now down over 24% in the past 24 hours and nearly 56% from its ATH. EXPLORE: Best New Cryptocurrencies to Invest in 2025 Pump Crypto Faces Backlash as Airdrop Delay Erodes Community Trust Community frustration has grown steadily as Pump.fun delays details of the airdrop promised during its record-breaking $600 million ICO. While Alon confirmed that an airdrop will happen, he stressed that the team is prioritizing long-term ecosystem development over immediate token rewards. We want to make sure that it is a meaningful airdrop and it is executed well. That being said, the airdrop is not going to be taking place in the immediate future.” But this decision is controversial. When you launch a token and promise an airdrop, it’s supposed to reward early supporters: the people who helped you build momentum. Delaying it indefinitely opens the door to airdrop farming and undermines trust. Waiting a year to reward loyal users defeats the whole purpose. The decision to delay, paired with whale exits at a loss, suggests diminishing confidence in short-term price action. Pump.fun, for now, remains a dominant force in Solana’s token ecosystem, having generated $774 million in revenue and launched over 12 million tokens. But unless the team restores community trust and delivers on its promises, PUMP may continue to face downside pressure, especially with newer competitors like LetsBonk gaining ground. 2 hours ago Solana Crypto Price Touched $200 Before -9% Sell Off: Best Crypto to Buy Now? By Akiyama Felix Solana has been on a wild ride recently, surging more than 10% from $180 to $200 in 3 days. This all happened before an overnight sell-off, which saw SOL retrace the entire move. With the market on a slight dip, many traders are wondering, ‘What is the best crypto to buy right now?’ Read the full story here. 2 hours ago XRP Reclaims $3 After 16% Drop – Is the Rally Losing Steam? By Fatima XRP has been one of the top-performing altcoins this cycle, gaining 72% over the past month. But after reaching a local high of $3.67, the token dropped sharply to $2.96 in the last 24 hours before bouncing back above $3, now trading at $3.05. On-chain signals suggest that XRP’s rally could be cooling off. First, data from CryptoQuant shows XRP’s exchange reserve on Binance hit a yearly high of 2.98 million tokens worth over $10 million. When coins move to exchanges, it often signals selling intent. XRP’s taker buy/sell ratio has stayed below 1 since July 10, currently at 0.88. This means futures traders are selling more than buying, adding to the bearish pressure. While XRP remains one of the strongest altcoins of the cycle, these indicators point to a possible short-term correction. If selling continues, and XRP price breaks the $2.95 level, the next support lies near and $2.65. The post [LIVE]PUMP Price Crashes Amid Airdrop Delay As BTC Fights to Hold $117,000 appeared first on 99Bitcoins.

Bitcoin continues to hover below its all-time high, with current trading levels near $118,000 reflecting a 0.6% daily drop and a 3.8% pullback from the peak above $123,000 recorded earlier this month. While the broader trend remains uncertain, analysts have assessed on-chain activity for signs of the next major move. Recent data from CryptoQuant analysts highlights a divide between retail and institutional behavior across leading exchanges, raising questions about potential profit-taking or strategic accumulation. Bitcoin Retail Traders Sell into Strength, While Whales Accumulate On the one hand, short-term holder (STH) behavior on Binance suggests some market participants are opting to take profits following the asset’s strong rally. On the other hand, Kraken has recorded a sharp outflow of Bitcoin, a movement typically associated with whale activity or long-term accumulation. This contrasting activity across platforms suggests a split in market sentiment, with retail traders potentially trimming their exposure and larger players preparing for sustained upside. According to CryptoQuant analyst Amr Taha, the Binance Exchange Inflow Ratio for Short-Term Holders recently crossed the 0.4 level, historically linked to increased retail selling pressure. These STHs, who typically hold Bitcoin for fewer than 155 days, tend to deposit funds to exchanges during periods of price strength to lock in gains. The spike above this threshold may indicate a growing tendency among retail investors to exit positions in anticipation of volatility. In contrast, the same analysis pointed to significant outflows from Kraken, with over 9,600 BTC withdrawn on July 22, one of the highest single-day outflows seen in recent months. Taha interpreted this as a potential signal of whale accumulation, with institutional or high-net-worth participants removing assets from exchange custody, often in preparation for long-term storage. This divergence in behavior between Binance and Kraken highlights the differing strategies employed by market segments, with retail users leaning toward short-term positioning and whales opting for long-term accumulation. Binance Reserve Trends Highlight Strengthening Profit Margins Adding another layer to the evolving market picture, CryptoQuant analyst Darkfost shared that Binance’s unrealized profit on its Bitcoin reserves has hit an all-time high of approximately 60,000 BTC. This figure has grown despite a gradual decline in total BTC reserves held on the platform, which have fallen from 631,000 BTC in September 2024 to 574,000 BTC as of now. A portion of these holdings, around 16,000 BTC, is locked in custodial wallets to back the BTCB token on the BNB Chain, serving operational purposes. Darkfost emphasized that decreasing exchange reserves are often interpreted as a sign of investor confidence, reflecting a preference to store Bitcoin in personal wallets rather than leaving it on centralized platforms. The rise in unrealized profit amid falling reserves may indicate that while outflows persist, the remaining holdings have appreciated significantly in value, highlighting the platform’s strengthened position. Featured image created with DALL-E, Chart from TradingView

Washington State just dropped the hammer on a crypto-linked fraud operation, filing to seize $7.1 million in digital assets tied to an international oil storage scam. The scheme lured investors with promises of high returns, but it turns out that everything is smoke. Backed by the DoJ and Homeland Security Investigations, the civil action targets crypto wallets allegedly used to launder investor funds. The main suspect, Geoffrey K. Auyeung, already faces a criminal indictment and could see up to 200 years behind bars. BitcoinPriceMarket CapBTC$2.36T24h7d30d1yAll time Inside the Oil Storage Scam: Crypto, Shell Companies, and Global Laundering Fraud Investigation suggests this was a well-coordinated, high-dollar scheme wrapped in fake oil investments. From August 2022 to August 2024, scammers convinced victims to invest in oil tank storage units in hubs like Rotterdam and Houston. They have used pitch decks that promised substantial rental profits. In reality, the entire operation was smoke and mirrors. Victims wired funds into what they believed were legitimate escrow accounts tied to shell companies. Some of those companies’ names were Sea Forest International LLC, Apex Oil and Gas Trading LLC. While the civil forfeiture process plays out, the criminal case against Auyeung and others continues to evolve. Authorities believe more victims may emerge, and additional crypto assets may be traced as forensic analysis continues. For investors and exchanges alike, this case reinforces the need for diligence and compliance, because in the post-FTX world, the regulators are watching closely. DISCOVER: 20+ Next Crypto to Explode in 2025 Join The 99Bitcoins News Discord Here For The Latest Market Updates Key Takeaways Washington State forfeits $7.1 million in crypto fraud. More than $97 million could be the losses. The post Washington State Files Civil Action to Forfeit $7.1 Million in Crypto from International Fraud Scheme appeared first on 99Bitcoins.

S&P 500 and Nasdaq 100 E-mini futures continued to edge higher in Asia’s Thursday session, up 0.1% and 0.3% respectively. Gains were supported by upbeat sentiment from Wednesday’s US session, despite mixed Q2 results from Tesla and Alphabet. Investor optimism was further boosted by President Trump’s new executive orders to bolster US artificial intelligence capabilities and improve prospects for a US-EU trade agreement. Tesla drops on earnings miss, while Alphabet rises on AI demand Tesla shares tumbled 4.4% in after-hours trading as Q2 earnings fell short of expectations ($0.40 EPS vs. $0.48 consensus). CEO Elon Musk’s cautious outlook—citing the phase-out of EV incentives and slow driverless tech deployment—added to the negative sentiment. In contrast, Alphabet shares rose 1.7% after beating earnings forecasts ($2.31 EPS vs. $2.16), buoyed by strong AI-driven sales growth. US stocks rally to fresh highs, led by Dow and tech giants The S&P 500 climbed 0.8% to a new all-time high, while the Nasdaq 100 gained 0.4%, led by Nvidia (+2.3%). The Dow Jones Industrial Average outperformed with a 1.1% jump to 45,010—just shy of its record high from December 2024. All major US indices remain in strong short-to-medium-term uptrends. Asia markets track Wall Street gains as US-EU Trade talks advance Asia-Pacific equities mirrored the US rally amid growing optimism that the 1 August US-EU trade deadline may yield a breakthrough. Media reports suggest progress toward a 15% tariff on most EU imports, replacing prior sticking points in negotiations. Nikkei nears record high; STI and Hang Seng extend gains Japan’s Nikkei 225 surged 1.7% to 41,870, closing in on its all-time high of 42,427. Hong Kong’s Hang Seng Index added 0.4%, marking its fifth straight daily gain. Meanwhile, Singapore’s Straits Times Index rose 0.8%, poised to log a 14th consecutive record close,up 11% from its 23 June low. Japanese yen leads FX moves ahead of ECB, Gold slides toward support The US dollar weakened further during Asia hours, with the Japanese yen outperforming major peers, gaining 0.4%. The Australian dollar also advanced by 0.3%. The euro and sterling traded almost unchanged from Wednesday’s US session close as traders await the European Central Bank (ECB) monetary policy decision out later today, where the consensus has priced in no rate cut to maintain its key deposit rate at 2% after eight consecutive cuts. ECB President Lagarde’s press conference will be pivotal as market participants look out for more hints to indicate ECB is at the end of its interest rate cut cycle. If such hawkish hold guidance materialises, the EUR/USD is likely to have more impetus to maintain its recent minor short-term bullish uptrend phase that kickstarted last Wednesday, 17 July. Meanwhile, gold (XAU/USD) extended its decline, shedding 0.3% intraday after a 1.3% drop yesterday. The precious metal is now nearing a key short-term support at US$3,260, where buyers may return. Economic data releases Fig 1: Key data for today’s Asia mid-session (Source: MarketPulse) Chart of the day – EUR/GBP looks set to resume its bullish move as ECB looms Fig 2: EUR/GBP minor & medium-term trends as of 24 July 2025 (Source: TradingView) The recent slide of 58 pips seen on the EUR/GBP cross pair from its 15 July swing high area of 0.8700 has hit a key inflection point for the bulls to resume a potential bullish impulsive up move sequence with its short-term minor uptrend phase in place since 27 June 2025 low. Firstly, the price action of EUR/GBP has staged a bounce right above the lower boundary of its medium-term ascending channel from 29 May 2025 low, and its rising 20-day moving average. Secondly, the hourly RSI momentum indicator has formed a “higher low” after it hit a recent oversold reading on 23 July, which suggests a potential short-term bullish momentum revival. Watch the 0.8640 short-term key pivotal support, and a clearance above 0.8700 increases the odds of a fresh bullish impulsive up move sequence to see the next intermediate resistances coming in at 0.8740/8770 and 0.8800 (see Fig 2). However, a break below 0.8640 invalidates the bullish scenario for a minor corrective decline to expose the next intermediate supports at 0.8600 and 0.8540 (also the 50-day moving average). Opinions are the authors'; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. The provided publication is for informational and educational purposes only. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please refer to the MarketPulse Terms of Use. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2025 OANDA Business Information & Services Inc.