MarketWhisper

XRP Technical Analysis shows a classic bearish pattern on its 4-hour chart - rising wedge, suggesting a potential price pullback. This pattern is composed of upward-sloping converging trendlines, and once the price breaks below the support line, it usually indicates a sharp fall. As of July 8, the trading price of XRP is approximately $2.28, slightly above its 50-day and 200-day MA. Analysts point out that the recent pullback in the crypto assets market is primarily triggered by macro risks. Heightened geopolitical and trade fluctuations may further weaken investors' preference for risk assets (such as crypto assets), accelerating XRP's price break below the wedge support and moving down towards the $2.05 support area.

Nasdaq-listed company Bit Digital has decided to adopt an Ethereum reserve asset strategy and has sold all of its holdings of Bitcoin. The company sold 280 BTC, ending its Bitcoin holdings history, and used the proceeds to purchase ETH. On July 8, the market showed that Bit Digital pre-market rose 16.4%, with its stock price soaring nearly 75% over the past six trading days.

Hong Kong's crypto assets related stocks experienced a general pump today (8th), and the market generally believes this is related to the optimistic attitude towards the upcoming stablecoin licensing system in Hong Kong. With the Stablecoin Regulation set to officially take effect on August 1, Hong Kong has taken a key step in the regulation of virtual assets. This not only provides a clear compliance path for stablecoin issuance institutions but also injects new vitality into the Hong Kong crypto market.

As the cryptocurrency market begins to circulate expectations of a new round of "alts season", Ethereum (ETH) shows strong recovery signals against Bitcoin (BTC). Technical analysts point out that the ETH/BTC exchange rate chart is forming a key bullish pattern. Ethereum's potential strong performance also boosts the sentiment of the entire altcoin market. Currently, the total market capitalization of alts, excluding Bitcoin, is testing a critical historical rising trend support line. If historical patterns repeat, a successful breakout of the current resistance level is expected to push the total market capitalization of alts towards the $2 trillion mark. However, if there is resistance at this key level and a pullback occurs, it may indicate that the market needs to undergo one last pullback before initiating a sustained rise.

From the "Tulip Mania" in the Netherlands during the 1630s to internet memes stocks like GameStop and AMC during the pandemic, history is filled with various peculiar asset price fluctuations. But what exactly makes them financial bubbles? The price of Bitcoin has currently reached about $108,000, up from $55,000 a year ago and $9,200 five years ago. Does this reflect the fundamentals? Possibly. Looking at recent market trends, even in developed economies, policy-induced inflation could shrink the value of your savings by 20% or more. US President Trump has shown a clear inclination to support crypto assets, even mentioning the establishment of a government strategic cryptocurrency reserve. Other store of value assets like gold can be quite tricky for the average investor to buy and sell.

Bitcoin long positions holder Michael Saylor's Strategy made headlines again this Monday, but not for its usual Bitcoin acquisition actions; rather, it did not purchase any Bitcoin during the week of June 30 to July 6. This marks the first time since late March that the world's largest enterprise-level Bitcoin holder has not increased its massive Bitcoin reserves. Currently, Strategy's BTC reserves have reached 597,325 coins, estimated to be worth about $6.471 billion at current market prices.

Today (8th) in the European morning session, Pi Network (PI) maintains a falling trend, currently reported at 0.4550 USD, with short-term selling pressure still existing. Although the price is indeed falling, investor activity continues to increase; the 24-hour volume has risen by 26.11%, reaching 81.57 million USD.

Bitcoin (BTC) is attempting to turn two key resistance levels into support after setting a historical highest weekly closing price, laying the groundwork for a new high. Some analysts believe that the crypto assets market may be in a "calm before the storm" phase. Prominent analyst Rekt Capital emphasizes that the goal is to convert this resistance into support, which would push BTC towards new all-time highs (ATH). He noted: "Given that the price barely closed above the final weekly resistance level, this leaves very little chance for the price to cleanly pull back and confirm that level as support; in other words, this pullback process is likely to be highly volatile."

Renowned financial author Robert Kiyosaki, the author of the book "Rich Dad Poor Dad," posted several tweets on X (formerly Twitter) at the beginning of July, demonstrating his unwavering support for Bitcoin while adhering to his consistent investment philosophy. He warned that savers storing dollars are losers and stated that if Bitcoin crashes, he will buy more.

In today's increasingly complex global economic landscape, a strategic hedging competition between the two major economies of China and the United States is quietly unfolding. This competition is reflected not only in traditional trade and geopolitical arenas but also extends into emerging financial battlegrounds such as gold reserves and crypto assets. The People's Bank of China (China's Central Bank, PBOC) has increased its gold holdings for eight consecutive months, quietly entering the ranks of the world's largest gold reserves. At the same time, the U.S. Securities and Exchange Commission (SEC) has accepted applications for Bitcoin and Ethereum ETFs from President Trump's media company, signaling a deep integration of crypto assets with U.S. politics. Together, these two events reveal the growing importance of gold and crypto assets as strategic hedging tools within the global financial system.

On Crypto Twitter (CT), there seems to be a standard script for the success of new projects in how they "soar to great heights": accumulate millions of followers, engage in crazy participatory marketing, gain support from top venture capitalists, and create extreme scarcity during token issuance. However, these revered success rules seem utterly unconvincing in the face of cold data. A recent research report ruthlessly reveals that the "wealth secrets" praised by crypto KOLs are actually four major illusions that mislead the public. When these glamorous appearances are ruthlessly debunked by data, can your wallet remain unscathed?

Recently, the cryptocurrency market has experienced a general fall, with mainstream tokens such as Bitcoin (BTC), Ethereum (ETH), DOGE, and Shib Inu (SHIB) all showing losses. This decline is mainly attributed to new concerns about a potential trade war, shaking investor confidence. Despite the market slump, several analysts remain bullish on the prospects of Bitcoin, Ethereum, DOGE, and SHIB. Some analysts point out that key indicators like MVRV (market capitalization to realized value ratio) are still below historical peaks. The continued increase in global liquidity suggests that the crypto bull run has not yet ended. They believe prices could break through $117,000 and are expected to reach the range of $140,000 to $170,000.

In the context of increasingly stringent global regulations on Crypto Assets, Hong Kong is actively seeking to become a hub for virtual assets. Chinese officials recently stated that the greatest opportunity for Hong Kong to develop stablecoins lies in promoting the "offshore RMB stablecoin," rather than the HKD stablecoin. Officials suggested that the Hong Kong SAR government should seek central support to develop an officially verified RMB stablecoin, enhance market confidence, and assist Hong Kong in becoming a global hub for stablecoin issuance. This proposal outlines a direction for Hong Kong's future development in the stablecoin sector and has sparked in-depth discussions within the industry regarding the potential of the stablecoin market and regulatory challenges.

As the digital asset bill accelerates in the U.S. Congress and is about to be submitted for President Trump's signature, the huge profits that Trump and his family have made in the crypto assets field have sparked increasingly heated controversy. Democrats have launched protests against "Trump's crypto corruption" in both the House and Senate, so much so that industry policy leaders believe that the long-awaited crypto assets market structure bill may be doomed as a result.

Today (8th) in the European early trading session, Solana (SOL) slightly rebounded above $105.20, but the selling pressure persists. The U.S. Securities and Exchange Commission (SEC) has requested potential Solana exchange-traded fund (ETF) issuers to amend or resubmit their applications by the end of July, which has raised investor expectations for approval. With optimism soaring, the number of daily active addresses on the Solana network has hit a historical high, which could catalyze a breakthrough rebound.

According to a report by CNBC on July 7, the equity Tokens of tech stocks like SpaceX and OpenAI launched by Robinhood have triggered regulatory scrutiny in Europe. OpenAI has explicitly stated that this digital asset does not involve ownership of company shares, and the Bank of Lithuania (Robinhood's main EU regulator) has initiated a Compliance investigation.

The price of Tron (TRX) hovers around 0.287 USD, having risen nearly 4% in the past week. The TRX network has processed over 13 billion transactions, handling more than 21 billion USD in USDT transfers weekly, surpassing Ethereum (ETH). The surge in trading activity is attributed to the integration of projects like the official meme coin TRUMP by President Trump and Plume's Skylink, indicating that the practicality and development momentum of the TRX ecosystem are strengthening.

The recent launch of the App Studio platform by Pi Network has sparked strong divisions within the community. The platform aims to allow users to create and monetize Web3 applications using Pi coin without a technical background, but many users are disappointed that it is still in the testing phase and lacks advanced features. Currently, the price of Pi coin continues to fluctuate between $0.43 and $0.45, with a weekly fall of 8% and a monthly decline of 27%. Although the 24-hour volume has risen by 40% to $83.8 million, the upcoming large token unlock in July could further exacerbate market selling pressure, posing a downward risk to the coin price.

In response to the previous report that sparked widespread controversy regarding "staking TON for UAE golden visa," the TON Foundation issued a brief statement to clarify. The organization denied any government involvement in the project. The plan previously claimed that users could obtain a 10-year UAE golden visa by staking $100,000 worth of TON tokens for three years. According to the TON Foundation's official blog, this clarification aims to correct misinformation about its UAE golden visa program. The foundation emphasized that the project is an independent collaboration between TON and an unnamed licensed partner (focused on tokenization of assets and blockchain infrastructure). The TON Foundation clearly stated that the project has not received any formal government support and is currently only an "exploratory attempt." The organization admitted that the initial announcement was released too early and has removed the related promotional content.