#Gate Hits 30 Million Users# #Trump–Musk Rift#

🔍 Market Overview

📈 Broad Market Momentum

The crypto-wide rally continues, driven by Bitcoin breaking key technical milestones and renewed investor sentiment .

U.S. macro factors—like stable Fed policy and positive geopolitics—are reinforcing risk appetite .

Bitcoin (BTC)

Currently trading around $109,636, with a daily high near $110,387 .

Technical analysis supports a bullish case: strong breakout candlestick patterns and increasing volume hint at fresh upside; but resistance around $110K–$114K should be watched carefully .

Prediction markets give a ~69% chance BTC won’t close above $108K by end-of-week, reflecting short-term caution .

Ethereum (ETH)

Trading around $2,592, rebounding after a recent 10% spike from the July 2 lows .

Key support holds near $2,500; next resistance zones are $2,700 and $2,925. Announced network upgrades may add momentum .

Altcoins

XRP is attempting a breakout above $2.29, aiming for ~$2.30 resistance; expected pullback could test ~$2.18 support .

Cardano (ADA) has rallied from $0.53 to over $0.60, though upward momentum may be slowing allowing buyer exhaustion near ~$0.613 .

---

🔑 Key Drivers Today

1. Bitcoin technical breakout past resistance is boosting overall market sentiment .

2. Macro environment: Fed’s neutral stance and a renewed trade deal have eased global risk concerns .

3. Institutional involvement: Continued inflows through spot-ETF and off‑chain BTC infrastructure .

---

⚠️ Watchpoints

Bitcoin resistance zone ($110K–$114K): A decisive breakout could launch a rally toward $143K (“Wave 5”), but rejection may lead to retracement .

Ethereum volume confirmation: Keep an eye on whether ETH can sustain above $2,700 with volume support .

Altcoin rotation: Momentum is concentrated in BTC/ETH—with selective opportunities like XRP and ADA; however, caution is key .

---

📊 Sentiment & Outlook

Fear & Greed Index shows growing “Greed,” signaling rising bullish sentiment .

On‑chain data indicates mid-to-long-term holders are distributing—yet the absorption by newer buyers supports a longer-term bull narrative .

Historically, July has been a strong month for Bitcoin, with average gains of ~7.6%, and 8 of 12 positive July months since 2013 .

---

✅ Summary

Expect continued volatility as BTC tests resistance. If it breaks cleanly above ~$110K, a rally to $115K–$120K could unfold. Ethereum remains bullish but awaits bullish confirmation near $2,700. Selective altcoin plays (XRP, ADA) may offer opportunities—but global focus stays on BTC–ETH dynamics.