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Market analyst CasiTrades recently posted about a “potentially explosive setup” forming as XRP tests the $3.00 support zone. Translation: fingers crossed, folks. Unfortunately, XRP couldn’t hack it at $3.21—classic case of “almost, but not quite” syndrome. Back to the drawing board at $3.00, which has historically been XRP’s emotional support dog, refusing to let the price spiral into chaos.
The week concluded with a most resplendent performance for ether exchange-traded funds (ETFs), while bitcoin ETFs maintained their composure. Ether ETFs extended their commendable green streak to 16 consecutive sessions, pulling in $452.72 million on Friday, while bitcoin ETFs added $130.69 million despite a hefty outflow from Grayscale’s GBTC. 📈
In an X post on July 19, Tyler Winklevoss unleashed a tirade against JPMorgan and its CEO, James Dimon, after Bloomberg reported the bank’s plan to charge companies for access to customer data. The Gemini boss claimed these fees would bankrupt fintechs, which are basically the crypto world’s version of a magical portal to your bank account. 🧙♂️💸
Ethereum, our ostensibly resplendent hero, finds itself mired in a rather sluggish performance—its boisterous 52% surge over the past month, an enigma wrapped in a riddle. What does it mean to gallop effortlessly whilst strapped to the weight of stagnation? 🤔
Could $132K Be Our Distant Star? Methinks It Needs Proof!
Enter Nayib B., the grand maestro conducting El Salvador’s breathtaking Bitcoin symphony, with its legal tender debut. “Fear not,” they sing, “for our 760 million reserve shall weave magic into health, education, and infrastructure!” But beneath this jubilation, marketers serenade us with tales of cryptocurrency shields against financial storms. Yet, as the curtain rises, the great reveal is far from the fairy tale imagined: rising costs, urgent pleas for Wi-Fi, and stagnant salaries drown the average citizen’s song of hope.
Why a Higher Price is Necessary
Ah, dear reader, let us ponder this existential quandary: Are we not fools to trust in third parties, those shadowy custodians of our digital souls? 🤡 For what is self-custody if not the ultimate act of defiance against the Leviathan? To hold one’s keys is to clutch the very essence of sovereignty, while surrendering them is to kneel before the altar of bureaucratic inevitability. 🗝️
Enter the sage Burak Tamaç, who, from the battlements of social media X, unfurled a scroll of on-chain wisdom via the BTC Supply Distribution URPD. This metric, a convoluted chart of where Bitcoin’s unspent treasures lie dormant, pretends to forecast support and resistance zones—much like an old mystic peering into a crystal ball, only to misread the signs half the time. Tamaç notes a yawning chasm in the UTXO distribution around $110,000 to $115,000, a void where few transactions have stirred, suggesting that this ghostly interval might cradle the cryptocurrency in its invisible arms. 😂
As if possessed by a rebellious spirit, this altcoin’s recent surge—bolstered by the gentle winds of favorable market conditions—has ignited a flicker of hope in the hearts of weary investors, whispering of a possible pilgrimage to new heights. After a period of patient consolidation, it seemed this wayward token might finally break free from its self-imposed shackles.
