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Hello everyone! I'm an energetic Senior Analyst in the blockchain market. Today, July 20, 2026, I'll provide an easy and fun analysis of market trends based on the hot news from the past 24 hours. Let's together pinpoint the crucial aspects we shouldn't miss, even amidst seemingly complex market conditions.
The market is currently moving dynamically, like a giant wave. From Bitcoin to altcoins, and regulatory movements, a variety of news is pouring out. Let's coolly dissect all this information based on facts and figures!
The Bitcoin (BTC) market remains a hot topic for investors. One analyst diagnoses the current sideways movement as a 'false stability' period, predicting that the actual bottom will form in October. This analysis suggests it can be seen as a process of liquidating the gains from the past three years.
However, not all signals point only to a decline. There's also a positive analysis suggesting that a signal for the end of the bear market has been detected as the acquisition cost of Bitcoin's short-term holders has fallen below that of long-term holders. Furthermore, a bullish divergence signal similar to the one just before the major surge in 2022 has appeared on the weekly chart, leading to expectations of a trend that previously resulted in a surge of over 700%.
Technically, Bitcoin stands at a crossroads between breaking above $73,000 and falling to $56,000. With the fear of the Middle East conflict and the crash of tech stocks currently threatening Bitcoin's $64,000 support level, Kevin Warsh's remarks at the next Federal Open Market Committee (FOMC) meeting will be a crucial variable in determining the market's direction.
The Ethereum (ETH) market is also showing interesting movements. The presence of Ethereum whales with a massive buying power of $2.8 billion suggests strong buying potential. However, the increase in exchange deposits, which raises selling pressure, cannot be overlooked either.
Analysis indicates that Ethereum recently broke through the resistance line of a double-bottom pattern and entered a technical rally trajectory towards $2,163. This is a good sign to expect short-term upward momentum. It's also noteworthy that five major exchanges currently manage a total of 6.66 million ETH, with Upbit accounting for the largest trading volume among them.
XRP has recently faced several challenging pieces of news. Warnings have emerged that it could fall further to $0.75 after breaking all four major moving averages, and analysis suggests that the market's recovery base is weakening as the three core on-chain metrics—XRP Ledger's transaction count, transaction volume, and active addresses—have all decreased.
Despite the XRP spot ETF recording a record-high net inflow of $1.5 billion, market reaction remains cool. Investors who invested at its launch even experienced the pain of a 56% plunge. Concerns are even being raised that the rise of stablecoins could replicate XRP's 95% crash.
However, there are also hopeful signs. Technical analysis suggests that if XRP holds the bottom of its descending channel at $0.9223, it could launch a signal for a rebound towards $3.18. Regulatory clarity and increased real-world use are expected to be crucial variables in breaking the $1.15 resistance level. Attempts to impersonate Ripple officials are also increasing, so constant vigilance is required.
The memecoin market continues its unpredictable rollercoaster ride. News that 63% of investors in the top 50 memecoins traded on Robinhood have recorded losses indicates the need for a cautious approach to memecoin investment.
A single profile picture of Coinbase's CEO caused a specific memecoin to surge 37 times before plummeting over 90%, demonstrating extreme volatility. In the case of Shiba Inu (SHIB), the daily transaction volume of its Layer 2 Shibarium surged by 216%, raising expectations for an end to the slump. However, concerns also coexist that a 65% drop in daily exchange outflows could dampen investor buying momentum.
In the US, the passage of the crypto market structure bill is at a critical juncture, expected to be decided before the August recess. Senator Cynthia Lummis emphasizes that truly decentralized projects should not be regulated like banks and urges the passage of the Clarity Act. This would be a significant step forward for the healthy growth of the market.
While the Genius Act, a stablecoin regulation bill, has been in effect for a year, detailed regulations are still being prepared. However, news of the Bank of Korea's real-transaction test for deposit tokens and the promotion of a national bond tokenization pilot project are positive signals for the development of domestic digital financial infrastructure. Conversely, the domestic Digital Asset Basic Act's enactment bill is expected to face difficult discussions in the second half of the year due to disagreements over key issues.
Institutional investors are also active. Large sums of money flowing into BlackRock's crypto ETFs signal a recovery in institutional demand for Bitcoin and Ethereum. Conversely, Abraxas Capital is also seen betting on market downside pressure, depositing 3 million USDC into Hyperliquid and expanding short positions in BTC and ETH.
FTX is set to proceed with its fifth repayment of $900 million on July 31, and the news that some small creditors could receive up to 120% of their claims offers hope to investors who suffered from the bankruptcy. Regulatory authorities' monitoring and actions against unfair virtual asset trading are also strengthening, which will contribute to increasing market transparency and trustworthiness.
As we've seen today, the blockchain market always moves amidst large and small volatilities. Diverse opinions on Bitcoin's bottom, the movements of Ethereum whales, XRP's crises and opportunities, and the unpredictable flow of the memecoin market—all this information helps us make wiser decisions.
The most important thing is to not be swayed by unfounded optimism and to always analyze coolly based on facts and figures. It's crucial to keep a close eye on changes in the regulatory environment and trends of institutional investors, and to stick to your own investment principles. The market will always offer us new opportunities. I'll be back next time with more useful and interesting analyses!
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