Crypto market analysis July 31

Congress may purchase Bitcoin in the future, SOL is expected to challenge Ethereum, and the intraday performance is still weak

Anthony Pompliano, CEO of Professional Capital, predicts that the United States will include Bitcoin in its balance sheet in the next 10 to 15 years. His investment portfolio mainly includes Bitcoin and Solana, the latter of which he started investing in when the price was $45 to $48 last year.

Pompliano believes that Solana's activity growth may exceed Ethereum and seize its market share in certain areas, thereby driving its price up. Although optimistic about Bitcoin and Solana, he also reflected on the mistakes of not seizing early investment opportunities and emphasized the importance of portfolio construction and capital allocation.

Anthony Pompliano is a well-known entrepreneur and investor in the crypto industry and has a significant influence in the crypto field. His remarks confirmed that Congress may include Bitcoin in reserve assets in the future, and SOL may also significantly erode Ethereum's market share. Although there are still many uncertainties and opportunities in SOL now, this may be a good time for us to increase our investment.

Daily level market analysis

Daily level analysis: The current market has fallen rapidly, but it is still in an upward trend overall. The decline is mainly to clear high leverage positions. The upper pressure is heavy, and the bottom support is around 65,000. If it falls below, we need to pay attention to around 63,000. The upper pressure is around 67,200.

4-hour level market analysis

4-hour level analysis: The market has fallen rapidly, with the lower support around 65,500-65,000 and the upper pressure around 66,700. The market has fallen rapidly, and it may further bottom out and rebound.

Intraday level analysis

The recent sharp drop in Bitcoin is normal, mainly due to the uncertainty of the US political situation. The game between Trump and Harris, coupled with Harris's lack of qualifications and lack of support for cryptocurrencies, has a low probability of winning. However, this will still have a significant impact on cryptocurrencies and the stock market, and may lead to more contract explosions.

The US government continues to transfer Bitcoin, coupled with political uncertainty, and it is difficult for the market to have a large-scale upward sentiment in the near future. However, it is expected that Bitcoin will soon approach its previous high. In the short term, attention needs to be paid to the position where the callback ends.