Quick analysis of the price of cryptocurrencies on July 22: Global market capitalization fell to $3.9 trillion. At the time of writing, the worldwide cryptocurrency market capitalization was $3.9 trillion, representing a 0.59 percent 24-hour decline.
The oldest and most valuable cryptocurrency in the world, Bitcoin (BTC), fell below $118,000 early on Tuesday. As Solana remains stable and Pudgy Penguins emerges as the top gainer, altcoins and memecoins appear to be the rage. The dominance of Bitcoin has fallen below 60%, marking the second significant drop in the last three months. As the overall Market Fear & Greed Index stood at 67 (Greed) out of 100, according to CoinMarketCap data, other well-known altcoins, such as Ethereum (ETH), Solana (SOL), Ripple (XRP), and Litecoin (LTC), largely fell in the red overall. The largest gainer of the lot was Memecoin Pudgy Penguins (PENGU), which saw a 24-hour increase of more over 15%. However, PUMP ended up being the greatest loser
The Price of Bitcoin (BTC) According to CoinMarketCap, the price of bitcoin was $117,200.14 today, representing a 1.26 percent 24-hour loss. The price of bitcoin was Rs 1.02 crore, according to Indian markets.
The price of Ethereum (ETH) Today
At the time of writing, the price of ETH was $3,706.77, a 1.71 percent 24-hour decline. In India, the price of Ethereum was Rs 3.25 lakh.
The price of Dogecoin (DOGE) According to CoinMarketCap data, DOGE saw a 3.69 percent 24-hour drop today and is now trading at $0.2610. In India, the price of Dogecoin was Rs 23.44.
The price of Litecoin (LTC) Litecoin experienced a 2.55% 24-hour decline today. It was trading at $115.43 at the time of writing. In India, the price of LTC was Rs 10,121.68.
Price of Ripple (XRP) The price of XRP was $3.47 today, a 0.48 percent 24-hour decline. In India, the price of ripple was Rs 300.25.
Cost of Solana (SOL) The price of Solana was $199.25 today, representing a 6.92 percent 24-hour increase. In India, the price of SOL was Rs 15,601.69.
Today (22 July ) Top Crypto Gainers
The top five cryptocurrency gainers during the last 24 hours, according to CoinMarketCap data, are as follows:
Crypto Exchanges’ Reactions to the Present Market Situation
Mudrex co-founder and CEO Edul Patel told ABP Live, As money shifts to altcoins, Bitcoin stays range-bound between $116,000 and $120,000. As a result of this rebound, Bitcoin dominance has fallen below 60% for the second time in three months. As it maintains its strength above $200 and reaches a 5-month high, Solana is in the spotlight. The “altcoin season index” has also risen above 50 for the first time since December, with Ethereum Futures open interest rising from $18 billion to $28 billion in only one week. We might be about to enter a fruitful altseason, according to this change in market dynamics.
After being rejected at $120,000 in the early hours of Wednesday, Bitcoin recovered from a critical support level close to $116,000, according to CoinSwitch Markets Desk. Bitcoin may continue to decline toward the next significant support zone around $113.5K if the recent trendline support at $116.2K is not maintained. The market saw $500 million worth of liquidations in the last day, with long positions making up 55% of the wipeout, which is marginally more than short positions (45%). In contrast, Bitcoin ETFs saw a $136 million withdrawal, which was the first net withdrawal following 12 days of inflows.
Bitcoin (BTC) is currently trading at over $117,000 after reaching a record high of $123,000, according to Sathvik Vishwanath, CEO and co-founder of Unocoin. Institutional investments in spot ETFs and US pro-crypto laws such as the GENIUS and CLARITY Acts are the main drivers of the bullish momentum. Near $116,000, Bitcoin has good technical support and is holding above important EMAs. It might reach $125,000–128,000 if it breaks above $122,000. A pullback toward $112,000, however, might result from a decline below $116,000. Long-term projections are still positive; according to some analysts, supply shocks will be cut in half by year’s end, and strategic adoption and regulatory certainty will increase investor confidence in international markets.
“The cryptocurrency market is maintaining a cautiously hopeful tone today as the US government issues its first formal crypto policy report,” stated Avinash Shekhar, co-founder and CEO of Pi42. With inflows stabilizing and whale activity exhibiting signs of deceleration, Bitcoin is consolidating around $117,200. With more over $2.1 billion in ETF inflows last week and ongoing institutional accumulation, Ethereum is currently gaining attention. ETH is rapidly approaching the $4,000 milestone. As Bitcoin’s hegemony begins to wane, altcoins like XRP, Dogecoin, and Solana are also attracting new investors, suggesting a possible rotation.
According to Srinivas L., CEO
Following its recent gain, Bitcoin is still rangebound, consolidating between important support and resistance levels, according to Srinivas L., CEO of 9Point Capital. The foundation for the next leg up is being built by this healthy pause. We anticipate that Bitcoin will ultimately break out to the upside and resume its upward trajectory due to robust macro mood, robust ETF inflows, and long-term on-chain signs that are flashing bullish.
