Bitcoin worked out an alternative option from the previously issued Reviews, consolidating above 66200. The local maximum was reached at 67598.

Market capitalization has reached 2.38 trillion, the dominance index remains above 55.3%, alts are growing significantly weaker than the main cryptocurrency. The growth leaders over the past 24 hours are ZK, MOG, FLOKI, CORE. Ether was unable to gain a foothold above 3500, hence the lack of strong growth in alts.

Of course, this is temporary. It will also come to alts, with Bitcoin steadily growing.

What are the downside factors for next week?

1. Possible drain of Bitcoins by the English government. So far there has only been FUD on this topic from Bloomberg, but if real actions or at least movements begin, there may be a drop to 60-62K.

It is also possible to drain from Genesis.

2. Domestic political turmoil in the United States and/or geopolitical turmoil. It is obvious that in the current situation, the Democrats will lose the elections, no matter who they put in there. And for many of them, this is already a matter of personal safety (courts, sentences, imprisonment, financial losses). Whether they agree with Trump there on guarantees and conditions for an honorable surrender - we do not know. It's better if yes. But it cannot be ruled out that they will simply create a situation where there will be no elections in 2024. The most realistic option in the current realities is a big war. If it goes to this scenario, all markets will be hurt.

3. The fall of the stock market on the reports of tech giants. The key day here is July 23rd. See other dates here.

4. Release of ETH-ETF and disappointing market volumes at the start.

Growth factors:

1. Bitcoin, after dropping below 60K, returned to the previous range of 60000-72000 and now it is logical to move towards its upper limit (70-72K). We have been moving in this direction all last week. And if nothing negatively extreme happens, we will continue on the next one.

2. Reports from tech giants may also be positive for the market. Because in the last year they have been given low expectations, but reality confidently outstrips these low expectations. It may well work now.

3. Good start of ETH-ETF and rapid growth of the asset. Yes, there will not be volumes like on BTC-ETF. But Ethereum also has a smaller capitalization. Therefore, I do not rule out that next week Ethereum may go above 3800, or even reach 4K.

In this case, very good times will come for alts.

4. Increasing short positions. More and more “analysts and influencers” are talking about the need to open shorts. They don’t know whether they open it themselves, but they actively recommend it to everyone.

Just like in the story with coin X.

Although only such actions lead to success in this story.

5. Bitcoin 2024 Conference in Nashville, which will be held July 25-27.

Trump is going there. And it’s unlikely just to be there. And even selling seats at the table is an intermediate task, not the main one. He clearly wants to finally win over the crypto audience at this event. This means that some sensational and positive statements for the market are likely.

The result is that if nothing bad happens, then we will continue to grow. And the main potential lies in the alts, which have not shown much yet.

Sorry my dears, summer, sea, vacation. A little unsettling 😘

#BTC #Bitcoin #ETH #Ethereum $BTC $ETH