The SEC launches Project Crypto – Crypto news

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This morning, SEC's Chair Paul Atkins announced the commencement of Project Crypto which aims at regulating Cryptocurrencies while making the US a leader in Digital Asset investment and creation haven.

The announcement follows a promise from the Trump Administration to tackle a wider adoption for Cryptocurrencies in a revolutionary move – Europe has promised to do the same but Markets are still awaiting them to announce anything concrete.

As a reminder, Trump passed a bill that would ensure a study of the entire Crypto Market during 180 days before releasing new regulations.

The move is sending mixed signals to Participants who enjoyed cryptos for their unregulated and incorruptible status from Politics, but in the grand scheme of things, it is still an advance towards wider adoption of digital assets amid higher deficits hurting Fiat currencies' credibility.

You can read more on Project Crypto right here.

Read More: August Non-Farm Payrolls preview

Looking back at the past month rally in Cryptos

It may be wise to assume that some of the most knowledgeable asset managers had anticipated the move which may be one of the reasons for the immense rally that occured in the entire market throughout July.

Cryptos haven't made a concrete move since, but it's still wort getting ready for the upcoming action that may see heightened volatility as Markets brace for the upcoming NFP release.

Current session in Cryptocurrencies, July 31, 2025 – Source: Finviz

TRX has been an outperformer in the past few weeks particularly as it's been holding strong during selloff sessions like the one from today.

Sentiment towards risk-assets is also getting dragged down by the downmove in Equities.

Bitcoin 2H Chart

BTC 2H Chart, July 31, 2025 – Source: TradingView

The price action resembles to some continuous and restricted profit-taking in the largest Crypto – More institutional participants are in the Crypto game now and this is surely affecting Bitcoin trading before the Key data tomorrow.

Keep an eye on the 115,000 Pivot Zone that acts as a key barometer for immediate bull/bear strength.

Upcoming Support will be between $110,000 to $112,000 and following resistance is between $120,000 and the $123,000 ATH.

Ethereum 2H Chart

ETH 2H Chart, July 31, 2025 – Source: TradingView

ETH had been consolidating for the past week very close to its local $3,944 top and despite ranging around $100 to $200 below its Monday gap-open highs, buyers still remain in control.

This condition remains as long as prices hold above or around the Immediate Pivot between $3,700 to $3,750. Watch for reactions on any close below.

The zone to breach for higher continuation is between $3,900 to $3,950 and bears would look to breach $3,700 to test the $3,500 Support Zone.

It will be interesting to see if buyers show some reaction to the break retest of the triangle formation that was capping volatility – The level is around $20 to $25 from current trading.

Do consider that the NFP figure will be released tomorrow which may restrain movement.

Wider market watch – ETH/BTC and Total Market Cap

ETH/BTC

ETH/BTC Weekly Chart, July 31, 2025 – Source: TradingView

ETH/BTC has moved up throughout the past week above its 50-Week MA, a very positive sign for the broader market.

Now, Crypto aficionados will be looking for Bitcoin to keep consolidating in the bigger picture to allow ETH and other altcoins to catch-up.

As long as BTC prices hold above the $100,000 mark, this scenario has relatively high chances to happen – Also look at ETH holding above $3,000.

Total Market Cap

Crypto Total Market Cap, July 31, 2025 – Source: TradingView

The Crypto Total Market Cap is still holding above previous all-time highs and came very shy of the $4 Trillion mark (T$ 3.94 ATH) – Despite some small profit-taking, technicals don't indicate any signs of panic.

Keep in mind that tomorrow's Non-Farm Payrolls release may affect sentiment deeply and lead to some swift changes to this current analysis.

Safe Trades!

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