Crypto Price Analysis 7-18: BITCOIN: BTC, ETHEREUM: ETH, SOLANA: SOL, RIPPLE: XRP, NEAR PROTOCOL:...

The crypto market is particularly bullish today, with its market cap up over 4% to reach its highest level of $3.90 trillion. Nearly all cryptocurrencies are trading in positive territory, with Bitcoin (BTC) reclaiming $120,000 and Ethereum (ETH) registering record increases. BTC had dipped below $118,000 late on Thursday but rebounded from this level to reclaim $120,000, reaching an intraday high of $120,989 before declining to current levels. The flagship cryptocurrency is up 1.51% and trading around $120,215

Meanwhile, ETH is up nearly 8% in the past 24 hours and over 21% in the past week as bullish sentiment around the asset surges. The world’s second-largest cryptocurrency raced past $3,500 earlier today, trading around $3,596. Sentiment around Ripple (XRP) is even more bullish, with the altcoin up nearly 18% in the past 24 hours, and over 40% over the past week. Solana (SOL) crossed $180 earlier today, with the price up nearly 8%, trading around $184. Dogecoin (DOGE) is up over 15%, while Cardano (ADA) is up 16%, trading around $0.869. Stellar (XLM), Chainlink (LINK), Hedera (HBAR), Litecoin (LTC), Toncoin (TON), and Polkadot (DOT) also registered substantial increases

Dow Jones, Nasdaq, S&P 500 Trade Flat

US stocks traded mostly flat on Thursday, with traders cautiously optimistic. The Dow Jones Industrial Average rose 140 points, while the S&P 500 remained flat as traders factored in key earnings reports from major banks and tech giants. The Nasdaq Composite registered a marginal increase. Trading has been muted since the index reached a new all-time high amid earnings reports and bullish news from Nvidia. Key inflation data has boosted investor sentiment this week. However, investors are also being cautious, thanks to the uncertainty created by President Donald Trump's pressure on the Federal Reserve to cut interest rates

Key Crypto Bills Pass Ahead Of August Recess

The US House of Representatives has passed three key crypto legislations after significant delays in Congress due to concerns around central bank digital currencies (CBDCs). Lawmakers finally voted 294-134 to pass the Digital Asset Market Clarity (CLARITY) Act. The bill aims to establish a clear market structure for cryptocurrencies. Lawmakers also voted 308-122 in favor of the Guiding and Establishing National Innovation for US Stablecoins (GENIUS) Act and 219-210 in favor of the Anti-CBDC Surveillance State Act. Nearly 80 Democrats voted in favor of the CLARITY Act, and over 100 in favor of the GENIUS Act

SEC Extends Deadline On In-Kind Redemptions For Bitwise ETFs

The United States Securities and Exchange Commission (SEC) delayed its decision on whether to allow in-kind redemptions for Bitwise’s spot BTC and ETH ETFs on NYSE Arca. The SEC stated that it needed more time to fully consider the implications of the proposed rule change. If the rule change is approved, investors can receive BTC or ETH directly, potentially offering tax benefits. The move comes amid growing criticism that the SEC is delaying key crypto decisions. Grayscale recently challenged the SEC’s handling of its Digital Large Cap ETF. The asset manager accused the market regulator of violating statutory deadlines. However, the SEC, under current Chair Paul Atkins, is shifting its stance. Atkins has promised more transparency in the SEC's functioning and a more innovation-friendly approach

Trump Could Pass Executive Order To Open Retirement Funds To Crypto

United States President Donald Trump could sign an executive order allowing American 401(k) retirement plans to invest in alternative assets, including cryptocurrencies. According to sources, Trump could sign the executive order as early as this week. The new 401(k) investment options include several types of assets, including cryptocurrencies, metals, and funds focused on infrastructure deals, corporate takeovers, and private loans

The order instructs regulatory agencies to find the best way for 401(k) plans to invest in crypto. It will also direct agencies to investigate any obstacles preventing such investments. However, White House spokesperson Kush Desai said nothing should be considered official unless it comes from President Trump himself

“President Trump is committed to restoring prosperity for everyday Americans and safeguarding their economic future. No decisions should be deemed official, however, unless they come from President Trump himself.”

Bitcoin (BTC) Price Analysis

Bitcoin (BTC) has rebounded after facing substantial selling pressure on Thursday as sellers dragged the price to an intraday low of $117,389. The flagship cryptocurrency had struggled to regain $120,000 this week as it lost momentum after Monday’s rally to a new all-time high. However, BTC rebounded from Thursday’s low to briefly cross $120,000 before settling at $119,101, ultimately registering a marginal increase. However, it crossed $120,000 during the current session, with the price up over 1%, trading around $120,289

Analysts attribute BTC’s recovery to the US House of Representatives clearing three key crypto bills aimed at creating a clear regulatory framework for the crypto industry. The landmark bills were approved on Thursday, setting the stage for a clear regulatory framework for digital assets. The key piece of legislation, the GENIUS Act, sailed through the House with a 308-122 vote in favor. The bill was approved by the Senate in June. The other bills that cleared the House are the CLARITY Act and the Anti-CBDC Surveillance State Act. The CLARITY Act defines whether cryptocurrencies fall under the jurisdiction of the Securities and Exchange Commission (SEC) or the Commodity Futures Trading Commission (CFTC). Meanwhile, the Anti-CBDC Surveillance State Act prohibits the Federal Reserve from creating its own CBDC without prior approval from Congress

Market sentiment and the rally were also boosted by reports that President Trump could approve crypto investments for retirement accounts. President Trump could sign the executive order as early as this week, clearing regulatory hurdles to allow 401(k) retirement plans to invest in crypto

BTC’s rally is taking another breather as it trades around $120,000. The flagship cryptocurrency struggled to regain this level after Monday’s rally and subsequent decline. However, it briefly crossed $120,000 on Thursday and reached an intraday high of $120,800 during the ongoing session. Spot Bitcoin ETFs registered their 10th successive day of inflows, recording $799 million on Wednesday. Spot Bitcoin ETFs have seen over $5.2 billion in inflows since July 2

BTC started the previous week in the red, dropping nearly 1% on Monday and settling at $108,273. It recovered on Tuesday, rising 0.62% and settling at $108,942. Buyers retained control on Wednesday as BTC rose over 2% to cross $111,000 and settle at $111,255. Bullish sentiment intensified on Thursday as the price rose 3.51%, crossing $115,000 and settling at $115,159. Price action remained positive on Friday as BTC rose 1.50% and settled at $116,885. Despite the positive sentiment, BTC lost momentum on Saturday, registering a marginal decline and settling at $116,616. The price recovered on Sunday, rising nearly 2% to cross $118,000 and settle at $118,624.

Source: TradingView

Bullish sentiment intensified on Monday as BTC raced past $123,000 and set a new all-time high at $123,091. However, it could not stay at this level and dropped to $119,714, ultimately registering an increase of 0.92%. Selling pressure returned on Tuesday as traders began locking their profits. As a result, BTC plunged to an intraday low of $115,701 before settling at $117,682, a drop of almost 2%. The price recovered on Wednesday, rising nearly 1% to reclaim $118,000 and settle at $118,641. BTC faced volatility and selling pressure on Thursday as sellers attempted to overwhelm buyers. Despite the selling pressure, it reached an intraday high of $120,812 before settling at $119,101, up 0.39%. The current session sees BTC up almost 1%, trading at $119,801

If BTC can reclaim and close above $120,000, it could start an uptrend that takes the price past $130,000. On the other hand, if sellers regain control, it could drop below $110,000, potentially falling as low as $105,000

Ethereum (ETH) Price Analysis

Ethereum’s (ETH) upward trajectory continued as it extended its gains to a sixth consecutive day. Bullish sentiment around the asset has seen a substantial increase in recent sessions as institutional interest and ETH treasury companies drive up the asset’s price. The world’s second-largest cryptocurrency crossed $3,300 on Wednesday and $3,400 on Thursday. ETH has surged past $3,600 during the ongoing session, and is trading around $3,606. With bulls in control, ETH is eying the $4,000 mark. The asset’s price is up nearly 7% in the past 24 hours, and over 22% in the past week

ETH is also becoming increasingly scarce on OTC platforms, suggesting a significant increase in institutional demand. The scarcity was highlighted by Wintermute CEO Evgeny Gaevoy, who stated that institutions are also leveraging derivatives for hedging and yield generation. Gaevoy stated,

“This divergence isn’t temporary—it’s the sign of a more mature, sophisticated, and specialized crypto market.”

Institutional investors are increasingly treating BTC and ETH as macro assets in portfolios and anchoring their crypto strategies around them. Over-the-counter (OTC) volumes jumped over 400% in the first half of the year, with Wintermute’s OTC spot trading volumes outpacing centralized exchanges

Like BTC, ETH started the previous week in the red, dropping 1.12% and settling at $2,543. The price recovered on Tuesday, rising nearly 3% to cross $2,600 and settle at $2,616. Buyers retained control on Wednesday as ETH rose almost 6%, crossing $2,700 and settling at $2,770. Bullish sentiment intensified on Thursday as the price rose 6.51% to cross $2,900 and settle at $2,950. With sellers active around $3,000, ETH could only register a marginal increase on Friday and settle at $2,956. It lost momentum on Saturday, dropping 0.49% and settling at $2,942. The price recovered on Sunday, rising nearly 1% to end the weekend at $2,970.

Source: TradingView

ETH started the current week on a bullish note, rising 1.50% to cross $3,000 and settle at $3,015. The price fell to a low of $2,932 on Tuesday but recovered to reclaim $3,000 and settle at $3,140. Bullish sentiment intensified on Wednesday as ETH rallied over 7%, crossing $3,300 and settling at $3,374. The price continued pushing higher on Thursday, rising over 3% to cross $3,400 and settle at $3,470. The current session sees ETH up over 4%, trading around $3,620.

Solana (SOL) Price Analysis

Solana (SOL) surged past $180 during the ongoing session, reaching an intraday high of $184 before declining to current levels. The altcoin has posted substantial gains over the past few sessions, up over 10% in the past week. SOL is up over 4% in the past 24 hours, trading around $180-$181. The rally comes after several bullish developments, including the launch of a staked Solana ETP on the Deutsche Börse Xetra. The ETP gives investors exposure to SOL, offering staking rewards. Additionally, the spillover effect from ETH’s ETF inflows has created demand for altcoins like SOL, leading to surging trading volumes.

SOL dropped nearly 2% on Monday (July 7) and settled at $148. The price recovered on Tuesday, rising almost 2% to reclaim $150 and settle at $151. Buyers retained control on Wednesday as SOL rose 3.54%, crossing the 50-day SMA and settling at $157. SOL rallied on Thursday, rising nearly 5% to cross $160 and settle at $164. The price faced selling pressure and volatility on Friday as sellers attempted to overwhelm buyers. As a result, it fell nearly 1% and settled at $162. Sellers retained control on Saturday as SOL fell 1.37% and settled at $160. The price recovered on Sunday, registering a marginal increase and moving to $161.

Source: TradingView

SOL reached an intraday high of $168 as the week started on a bullish note. However, it could not stay at this level and dropped to $162, ultimately registering an increase of 0.68%. The price fell to an intraday low of $157 on Tuesday as selling pressure intensified. However, it rebounded from this level to reclaim $160 and settle at $164. Bullish sentiment intensified on Wednesday as SOL rallied, rising nearly 6% to cross $170 and settle at $173. Buyers retained control on Thursday despite selling pressure. As a result, SOL recovered from a low of $168, rising 1.29% to $175. The price raced to an intraday high of $184 during the ongoing session. However, it could not stay at this level and moved to its current level of $179, up over 2%.

Ripple (XRP) Price Analysis

Ripple’s (XRP) stunning rally has taken the altcoin past key levels in recent sessions. It crossed the $3 mark on Wednesday and continued rising on Thursday, consolidating its position before a marginal decline. However, the rally has lost momentum during the ongoing session, with the price down 1.38% after reaching an intraday high of $3.66. Despite the decline, analysts are confident XRP will cross $3.50 sooner rather than later.

XRP’s current rally is being fueled by growing regulatory optimism around crypto-friendly legislation in the US. The launch of ProShares XRP Futures ETF has also had a positive impact on XRP’s price action.

XRP registered a marginal decline on Monday (July 7) before recovering on Tuesday, rising 1.81% to $2.31. The price registered an increase of over 4% on Wednesday, crossing the 200-day SMA and settling at $2.40. Buyers retained control on Thursday as XRP rose nearly 6%, crossing $2.50 and settling at $2.54. Bullish sentiment intensified on Friday as XRP soared to an intraday high of $2.97. However, it could not stay at this level and settled at $2.73, ultimately registering an increase of over 7%. Price action remained positive over the weekend as XRP registered a marginal increase on Saturday and then rose over 4% on Sunday to settle at $2.83.

Source: TradingView

XRP started the current week in positive territory, rising over 4% to settle at $2.95. Despite the positive sentiment, the price lost momentum on Tuesday and fell 1.33% to $2.91, but not before dropping to an intraday low of $2.80. XRP recovered on Wednesday, rising over 4% to cross $3 and settle at $3.03. Bullish sentiment intensified on Thursday as the price rallied nearly 15% and settled at $3.48, with buyers eying the $3.50 mark. XRP raced to an intraday high of $3.66 during the ongoing session. However, it could not stay at this level and moved to its current level of $3.42, down nearly 2%.

Near Protocol (NEAR) Price Analysis

Near Protocol (NEAR) has surged in recent sessions, going past key resistance levels and moving averages. The price dropped 0.99% on Monday (July 7) but recovered on Tuesday, rising nearly 4% and moving to $2.24. Buyers retained control on Wednesday as NEAR rose 4.01% and settled at $2.33. Bullish sentiment intensified on Thursday as the price rallied, rising nearly 8% to cross the 50-day SMA and settle at $2.51. Despite the positive sentiment, NEAR lost momentum on Friday after facing volatility. As a result, it registered a marginal decline and settled at $2.50. Sellers retained control on Saturday as the price fell 0.90% to $2.48.

Source: TradingView

NEAR recovered on Sunday, rising nearly 2% to end the weekend at $2.53. NEAR started the current week on a bullish note, reaching an intraday high of $2.69 before settling at $2.58, ultimately registering a 1.99% increase. Buyers retained control on Tuesday as the price rose 3.44% to $2.67. NEAR continued pushing higher on Wednesday and Thursday, rising 2.31% and 3.15% to $2.81. The current session sees NEAR up over 4%, trading around $2.93 after reaching an intraday high of $3.03.

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.