Crypto Price Analysis 7-28: BITCOIN: BTC, ETHEREUM: ETH, SOLANA: SOL, APTOS: APT, INTERNET COMPUTER: ICP
The cryptocurrency market has started the week in positive territory, up nearly $2% as its market cap nears the $4 trillion mark yet again. Price action was subdued over the weekend, but has picked up as Bitcoin (BTC), Ethereum (ETH), and other cryptocurrencies approach key levels. BTC traded around $118,000 for most of the weekend, falling to a low of $117,949. However, it has rebounded to cross $119,000 and settle at $119,574. The flagship cryptocurrency is up over 1% during the ongoing session.
Meanwhile, ETH has rallied from around $3,750 to surge past $3,900 and move to its current level of $3,929, with buyers eying $4,000 this week. The world’s second-largest cryptocurrency is up nearly 4% in the past 24 hours. Ripple (XRP) is up over 3%, trading around $3.32, while Solana (SOL) is up 3.35%, trading around $195. Dogecoin (DOGE) is up almost 3% and Cardano (ADA) is up 2.38%, trading around $0.852. Chainlink (LINK), Stellar (XLM), Litecoin (LTC), Toncoin (TON), and Polkadot (DOT) also registered notable increases. However, Hedera (HBAR) traded in the red, down almost 4%.
Traders Prepare For Larger Price Swings
Bitcoin (BTC) maintained its upward trajectory over the weekend despite subdued price action, as it traded within a key resistance zone. Analysts believe this zone could determine BTC’s short-term price action. BTC recovered late on Sunday to reclaim $119,000, extending its recovery after Friday’s drop below $115,000. Friday’s decline was triggered by the sale of 80,000 BTC by a Satoshi-era whale. However, markets quickly absorbed the sale, prompting analysts to predict a continuation of the ongoing rally. Analysts highlighted that BTC is approaching a “strong resistance” between $119,000 and $120,000. The crypto analytics platform Coinank has identified several liquidation clusters within this range.
Divine Research Issues Unbacked Crypto Loans Using World ID
San Francisco-based lender Divine Research has issued 30,000 unbacked short-term crypto loans using OpenAI CEO Sam Altman’s World ID to verify borrowers. The lender offered loans under $1,000 in USDC to overseas borrowers who were underserved by traditional financial and banking avenues. It used World ID to verify and ensure users could not open multiple accounts after defaulting. Divine Research founder Diego Estevez stated,
“We’re loaning to average folks like high-school teachers, fruit vendors … basically anyone with access to the internet can get access to our funds. This is microfinance on steroids.”
However, interest rates are on the higher side, ranging from 20% to 30%, with a first-loan default rate of around 40%.
“High interest rates compensate for these losses.”
Roman Storm Seeks Donations As Trial Enters Third Week
Tornado Cash co-founder Roman Storm has appealed to the crypto community for donations to cover legal expenses as his trial enters its third week. Storm took to X to post an appeal, stating that his legal team was working around the clock, and expenses were piling up.
“Urgent Call for Support. We’re running out of time — legal costs are piling up fast, and we urgently need your help. If you believe in open-source, privacy, and standing up to injustice, please donate now. Every bit counts.”
Storm’s latest appeal for funds comes despite having already raised millions through crowdfunding initiatives. According to Storm’s website, supporters and the crypto community have already donated $3.2 million to the Roman Storm Legal Defense Fund, which aims to raise $5 million. The Ethereum Foundation, the entity dedicated to supporting Ethereum and other related technologies, has donated $750,000. Storm’s fundraising campaign will cover a growing list of expenses associated with trial preparation, expert witness testimony, and other legal work.
“We’ve forgotten what normal sleep feels like. Every hour counts, and so do the costs.”
Storm is facing multiple charges brought by the US Department of Justice, including conspiracy to commit money laundering, conspiracy to violate the International Emergency Economic Powers Act, and operating an unlicensed money-transmitting business.
Pudgy Penguins Denies OpenSea Deal
Pudgy Penguins has denied rumors of a potential purchase of NFT marketplace OpenSea. Pudgy Penguin’s head of security dismissed speculation of a purchase, instead highlighting the project’s partnership strategy. The project stated on its official X handle,
“Pudgy Penguins didn’t buy OpenSea. The scale of things planned for the Penguin is so large that you need not speculate on a single acquisition. Instead, talk about partnering with Lufthansa and NASCAR, and go find the next great brand for us to proliferate with.”
Speculation about a potential purchase emerged after several users cited statements by Pudgy Penguins CEO Luca Netz, who had expressed interest in acquiring the marketplace.
Bitcoin (BTC) Price Analysis
Bitcoin (BTC) started today’s trading session in positive territory, briefly pushing above $119,000. However, it lost momentum and registered a marginal decline, moving to its current level of $119,033. The flagship cryptocurrency steadied itself over the weekend after Friday’s decline. BTC fell to an intraday low of $114,779 as selling pressure intensified following the sale of 80,000 BTC by a Satoshi-era whale. However, markets quickly priced in the sale, allowing BTC to reclaim $117,000 and settle at $117,565. BTC traded in positive territory over the weekend, registering a marginal increase on Saturday and rising 1.31%, crossing $119,000 and settling at $119,398.
Buyers will be eying the $120,000 mark this week as they look to reclaim key levels. BTC’s uptick comes after reports that the US and China had agreed to delay the introduction of reciprocal trade tariffs.
“JUST IN: China and the US have agreed to extend their pause on tariffs for another 90 days.”
Analysts believe BTC must cross the $119,000-$120,000 levels for a big move to materialize. Crypto investor Ted Pillows stated in a post on X,
“$BTC needs to break above $119.5K for a big move. If that doesn’t happen, this consolidation will continue. I think BTC could break above this level next month, which will start the next leg up.”
Rekt Capital highlighted a slightly higher ceiling at around $120,000, stating.
“Bitcoin has Daily Closed above the blue Range Low, kickstarting a break back into the very briefly lost Range. Any dips into the Range Low (confluent with the new Higher Low) would be a retest attempt to confirm the reclaim.”
Some analysts warned of heightened volatility and larger price swings, adding that if BTC retested its all-time high, it could liquidate $1.1 billion in short positions. Crypto analyst TheKingfisher stated,
“Seeing predominantly red on the BTC GEX+ chart. This indicates dealers are heavily short gamma, suggesting they may amplify volatility to hedge their positions. Expect potentially larger price swings in the near term. Monitor these shifts closely.”
BTC started the previous weekend in bearish territory after facing substantial selling pressure. As a result, it fell to an intraday low of $116,805 before reclaiming $117,000 and settling at $117,877. Sellers retained control over the weekend as BTC registered a marginal decline on Saturday before dropping 0.48% on Sunday to settle at $117,820. The price reached an intraday high of $119,603 on Monday. However, it could not stay at this level and settled at $117,402, ultimately registering a marginal increase. Bullish sentiment intensified on Tuesday as BTC rallied, rising over 2% to cross $119,000 and settle at $119,982.
Source: TradingView
Despite the positive sentiment, BTC lost momentum on Wednesday, falling 0.99% to a low of $117,321 before settling at $118,794. Sellers retained control on Thursday as the price fell 0.35% to $118,381. Selling pressure intensified on Friday following the sale of 80,000 BTC by a Satoshi-era whale. As a result, BTC plunged to an intraday low of $114,779 before reclaiming $117,000 and settling at $117,565, ultimately dropping 0.69%. The price recovered over the weekend, rising 0.24% on Saturday and 1.31% on Sunday to reclaim $119,000 and settle at $119,393. The current session sees BTC down 0.52%, trading around $118,768.
Ethereum (ETH) Price Analysis
Ethereum (ETH) continued its steady upward trajectory as it recovered from Thursday’s intraday low of $3,512. Price action remained positive over the weekend, registering marginal increases on Friday and Saturday to settle at $3,743. Sentiment improved on Sunday following positive market developments, allowing ETH to cross $3,800 and reach $3,875, overcoming a key resistance level. ETH crossed $3,900 during the ongoing session and is pushing towards $4,000, with a rise in derivatives and trading activity suggesting growing investor interest. ETH’s trading volume surged to $32.95 billion, up 47%, while open interest (OI) rose 7.72% to $59.94 billion.
Bullish sentiment improved further after Lookonchain disclosed that SharpLink purchased an additional 77,210 ETH worth $295 million, taking its total ETH holdings to 438,017 ETH, worth around $1.69 billion. The company has staked most of its ETH through platforms like Figment and Hopper’s DApp. SharpLink is funding its ETH purchases through an ambitious equity sales program, expanding its equity target from $1 billion to $6 billion as it attempts to establish itself as a long-term institutional holder of ETH.
ETH traded in positive territory over the previous weekend, reaching an intraday high of $3,677 before settling at $3,548, ultimately registering an increase of 1.99%. Price action remained positive over the weekend as ETH rose 1.31% on Saturday and 4.51% on Sunday, crossing $3,700 and settling at $3,757. The price registered a marginal increase on Monday and settled at $3,764. Despite the positive sentiment, ETH lost momentum on Tuesday, falling to an intraday low of $3,619 before settling at $3,747, ultimately registering a marginal decline.
Source: TradingView
Selling pressure intensified on Wednesday as the price fell over 3% and settled at $3,629, but not before dropping to a low of $3,531. ETH recovered on Thursday despite volatility, rising over 2% to reclaim $3,700 and settle at $3,707. Buyers retained control on Friday as the price registered a marginal increase and settled at $3,726. ETH traded in positive territory over the weekend, rising 0.46% on Saturday and 3.53% on Sunday to cross $3,800 and settle at $3,875. The current session sees ETH up almost 1%, trading around $3,900.
Solana (SOL) Price Analysis
Solana (SOL) experienced substantial volatility last week, losing momentum after crossing $200 on Tuesday. As a result, it fell by over 11% over the next two sessions and dropped to a low of $175 by Friday. However, it has recovered over the weekend, reclaiming $190 during the ongoing session. The altcoin is benefiting from increased institutional interest and a friendlier regulatory environment. The discussion around Solana ETFs has also boosted investor sentiment, allowing the token to cross $200 last week.
“ETF conversations around SOL are further amplifying interest. With a more crypto-friendly regulatory tone emerging in the U.S., sentiment around both XRP and SOL remains constructive.”
SOL experienced substantial volatility on Friday (July 18), reaching an intraday high of $184 before losing momentum and settling at $177. The price registered a marginal decline on Saturday before rising 2.48% on Sunday to cross $180 and settle at $181. Bullish sentiment intensified on Monday as SOL rallied, rising nearly 8% to cross $190 and settle at $195. Buyers retained control on Tuesday as SOL rose over 5% to cross $200 and settle at $205.
Source: TradingView
Despite the positive sentiment, SOL lost momentum on Wednesday, dropping almost 8% to settle at $189. The price continued dropping on Thursday, falling 3.47% and settling at $182. SOL plunged to an intraday low of $175 on Friday as selling pressure intensified. However, it rebounded from this level to reclaim $180 and settle at $186, ultimately registering an increase of over 2%. Price action was mixed over the weekend as SOL dropped 1% on Saturday before rising more than 2% on Sunday to settle at $188. The current session sees SOL up over 2%, trading around $192.
Aptos (APT) Price Analysis
Aptos (APT) has experienced substantial volatility over the past week, with the price fluctuating between lows below $4.50 and highs above $6. The price traded upwards until last weekend before volatility set in as APT reached an intraday high of $5.59, and then dropped to $5.32, ultimately registering a marginal increase. Volatility persisted over the weekend as APT registered a marginal rise on Saturday. The price surged to an intraday high of $6.21 on Sunday but lost momentum after reaching this level and fell back to $5.32. Despite the volatility, APT recovered on Monday, rising 1.55% to $5.40. Buyers retained control on Tuesday as the price rose 1.34% and settled at $5.47, but not before dropping to a low of $5.16.
Source: TradingView
Selling pressure returned on Wednesday as APT plunged over 12%, slipping below $5 and the 20-day SMA to $4.80. Sellers retained control on Thursday as APT fell nearly 4%, dropping to a low of $4.47 before settling at $4.62. Despite overwhelming selling pressure, the price recovered on Friday, rising almost 3% to $4.75. Price action remained positive over the weekend as APT rose 0.95% on Saturday and more than 2% on Sunday to settle at $4.90. The current session sees APT up 1.47%, trading around $4.97 as buyers look to retain momentum and push above $5.
Internet Computer (ICP) Price Analysis
Internet Computer (ICP) reached an intraday high of $6.18 on Friday (July 18). However, buyers lost momentum after reaching this level as the price fell to $5.68, a 1.22% drop. The price recovered over the weekend, rising over 2% on Saturday and 3.10% on Sunday to settle at $5.98. ICP continued pushing higher on Monday, rising over 3% to cross $6 and settle at $6.17. The price plunged to an intraday low of $5.79 on Tuesday as selling pressure intensified. However, it rebounded to settle at $6.13, ultimately dropping 0.65%.
Source: TradingView
Selling pressure intensified on Wednesday as ICP plunged nearly 9%, slipping below $6 and settling at $5.59. The price faced volatility on Thursday as buyers and sellers struggled to gain the upper hand. Sellers ultimately gained the upper hand as ICP fell 1.61% to $5.50. The price recovered on Friday, rising over 2% to $5.62. Buyers retained control over the weekend as the price rose 0.53% on Saturday and more than 2% on Sunday to settle at $5.78. The current session sees ICP up nearly 3%, trading around $5.94.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
