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Bitcoin seems set on losing US$20k support again as the wider crypto market steps unconvincingly into the new week. At least some cryptos are showing semblance of form. Not ADA, though, apparently.

But yep, you guessed it, market-affecting macro headwinds are still gale force. The US dollar has a puffed-out chest (+1.13% @ 108.21), while tech stonks are still in desperate need of the sort of pill Pele peddles (Nasdaq: -2.26%; S&P 500: -1.15%).

And there’s more “fun” just around the corner, too – this week will see the release of fresh CPI inflation data for the US on July 13.

So, things, such as crypto moonboi exuberance, are being kept well in check. On the off chance inflation data comes in lower than expected, though, then that oughta give up-and-to-the-right chartists some decent Twitter engagement.

It’d be nice. Seems unlikely, though. According to the Financial Times, Reuters-polled economists are predicting a slight increase (8.7%) from the previous month’s 40-year high level of 8.6%.

And the New York crypto research firm Delphi Digital’s latest analysis reportedly predicts “more pain ahead for risk assets”, too, with potential BTC support down at US$15k or even US$9k-$12k. They’re far from alone – seems like every man, woman and DOGE on Crypto Twitter is calling for a $10k BTC bottom at the moment.

That said, Delphi also indicates in a Twitter thread that despite a potentially bleak or boring short-midterm price outlook for the market, it’d definitely be a mistake to give up or tune out on crypto at this time. Agreed.

 

Top 10 overview

With the overall crypto market cap at US$930 billion and down 4.7% since this time yesterday, here’s the current state of play among top 10 tokens – according to CoinGecko.

After some encouraging price action at the end of last week, Bitcoin (BTC), Ethereum (ETH) and the other crypto majors haven’t been able to sustain the pump, which likely comes as no major shock to many a crypto/financial analyst.

Solana (SOL) is the biggest daily loser at the time of writing, but its smart-contract layer 1 rival Cardano (ADA) is the one that seems to have caught famed US economist Peter Brandt‘s attention.

He’s labelled the token’s recent/current price structure as “the very definition of UGLY”, pointing to a bearish head-and-shoulders formation with apparently little supporting action for ADA below the US$0.40 level. Hmm… just one take, but something to keep an eye on.

 

Uppers and downers: 11–100

Sweeping a market-cap range of about US$7.4 billion to about US$364 million in the rest of the top 100, let’s find some of the biggest 24-hour gainers and losers at press time. (Stats accurate at time of publishing, based on CoinGecko.com data.)

DAILY PUMPERS

• Evmos (EVMOS), (market cap: US$464 million) +4%

• Ecomi (OMI), (mc: US$443 billion) +4%

• Loopring (LRC), (mc: US$499 million) +3%

• Arweave (AR), (mc: US$599 million) +2%

 

DAILY SLUMPERS 

• THORChain (RUNE), (market cap: US$601 million) -13%

• STEPN (GMT), (mc: US$500 million) -12%

• Uniswap (UNI), (mc: US$2.5 billion) -12%

• IOTA (MIOTA), (mc: US$738 million) -11%

• ApeCoin (APE), (mc: US$1.29 billion) -10%

 

Around the blocks

A selection of randomness that stuck with us on our daily journey through the Crypto/financial Twitterverse…

After four rural Chinese banks froze millions of dollars worth of deposits, protests and potential bank-run drama have been going down in the city of Zhengzhou over the past 24 hours, in case you haven’t heard.

Bitcoin fixes this? True believers reckon so…

 

Elsewhere…

 

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