The cryptography market plays again at the $ 4 billion door, but it seems that it cannot walk through it.
The total market capitalization was around $ 3.93 billion on Wednesday, marking the third attempt in four weeks to decisively break the milestone. That is despite a strong feeling of risk in actions, a growing institutional demand of Ethereum and new ETF Spot holders through Altcoins.
Instead, merchants seem locked in a technical dead point, turning capital among the specialties while waiting for a new holder to activate new tickets.
“This reminds the stagnation that we also saw at the end of last month,” said Alex Kuptsikevich, FXPro Market Chief Analyst, Coindesk in an email.
“It seems that we are seeing rhythms of the calendar, with an increase in tickets at the beginning of the month and caution at the end.” “Cryptocurrencies are ignoring the positive feeling in stock markets and technical factors are temporarily dominating the agenda,” he added.
Bitcoin (BTC) quoted within a strict range of $ 117,000– $ 119,000 during the last 24 hours before around around $ 118,500 in the early hours of the US drift volumes through CME and Coinbase.
Ether (ETH), which increased 22% last week, also began to lose steam. ETH prices were around $ 3,670 at the time of writing, since the rethinking flows and the ETF demand stagnant after a frantic impulse of five days.
BNB broke the $ 800 mark early Wednesday to establish fresh maximums, with ecosystems bets such as Pancakeswap (Cake) and Memecoin Floki (Floki) up to 10%.
Meanwhile, the Altcoin rally seems to have stagnated. Solana increased 18.2% in the last 7 days, but 1.3% in the last 24 hours. The best artists in the last 7 days, Cardano Ada (ADA), which jumped 14.9%, and XRP (XRP), which increased 17.1%, are now planning.
Even Dogecoin (Doge), the superior surprise performance of last week, is beginning to cool after a weekly race of 27.1% caused by the speculation of an ETF spot and an accumulation of reserve of $ 500 million by the mining firm Bit Origin.
The feeling, however, remains close to Euphoric. The Crypto & Greed index increased to 74, just less than the “extreme greed” threshold that historically has indicated the short -term blouses. According to Kuptsikevich, the violation of that level will require a new strong driver.
“The lack of new significant reasons on the horizon is to prevent cryptocurrencies from entering the territory of extreme greed (> 75),” he said. “This reason could be the approval of an ETF with the rethink or expansion of the set of Altcoins in bags quoted in the stock market.”
JULY RATE COURT
Meanwhile, the hopes of a July rate cut are largely faint among the forecasting.
The United States Federal Reserve remains under intense political pressure before its meeting on July 30, with President Trump and some of his appointed openly requested tariff cuts despite sticky inflation. While the president of the FED, Jerome Powell, is expected to maintain the stable rates, the growing divergence within the FOMC is worrying economists.
A Reuters survey showed that more than 70% of economists now fear for the independence of Fed. Even so, with the price of markets in a 53% probability of a cut in September and reciprocal rate terms that are coming on August 1, cryptography merchants are considering any sign of policies such as a tail wind.
Read more: XRP’s bullish trend threatened as the $ 120K bitcoin prices is maintained
