The scribes—called “technical analysts” by gentlefolk—whisper in cracked voices: “Altseason is nigh!” They mutter of 3–6 month timelines with the careful hope of gamblers at midnight, clutching metaphors in sweaty palms. Is this 1917 for Bitcoin? Or just another winter’s mirage?
Full disclosure: Ray’s got more of a soft spot for gold. Classic. Like your dad who listens to vinyl and insists it “just sounds better.” But don’t worry, Bitcoin isn’t old man Dalio’s sworn enemy—he just sees both as handy umbrellas for when cash starts melting. ☔️💸
So, here’s the tea ☕: Stellar (XLM) decided to take a little tumble below its beloved 10-day simple moving average (SMA). That SMA was basically its security blanket during July’s rally—a time when XLM went from looking sad at $0.30 to flexing at over $0.50. But now? Oh darling, it’s trading at $0.43 after shedding nearly 6% in one day. The week hasn’t been kind either, with an 8% drop overall. Brutal.
The token currently trades at $1.34, having fallen 8% over the past day yet clinging to a respectable 24% gain over the month. But alas, dear reader, this is but a shadow of its former glory; EIGEN remains 76% below its all-time high of $5.65, set in December 2024. Trading volume has dipped by 4.5%, now resting at approximately $89.5 million. Meanwhile, derivatives data paints a picture of caution: open interest has plummeted over 10%, and total derivatives volume hovers around $401 million. Traders, it seems, are bracing themselves for what could be a pivotal moment in this saga. 🛡️⚔️
On July 26, she shuffled her Bitcoin stash into her cold wallet from the OKX exchange, bit by bit. But lo and behold, two days later, her balance was as empty as a politician’s promise. 🕳️ After a quick gander at the wallet’s history, she found her precious BTC had been whisked away to parts unknown by some scoundrel with a knack for mischief. 🚀💸
With July wrapping up, Ethereum [ETH] has clocked in over 50% returns, marking its biggest monthly move since 2022. 🏃♂️
Massive Token Unlock Adds Pressure
This bit of wisdom is from last week’s edition of the Week in Review newsletter. Think of it as your weekly dose of crypto gossip—subscribe, and you’ll get these hot takes before anyone else even has time to screenshot them. 😉
Behold, dear reader, the tale of Ethereum’s Exchange Reserve—a metric so sacred it could rival the Ark of the Covenant. As our intrepid analyst, Ali Martinez (a clairvoyant of the crypto realm), hath revealed: this reserve tracks the ETH hoarded in centralized exchanges, where greedy hands await their moment to strike. 🎭
Let’s face it, AI is the cool kid at the party, and Web 3.0 is… well, the one still trying to figure out how to work the punch bowl. 🥊 The AI industry has scooped up market share faster than you can say “decentralization,” leaving crypto in the dust like last season’s meme coin. 🌪️
