Trump Tariffs Vs Crypto Bulls
In this action-packed edition of Trader’s Report, expert market strategist Matthew Dixon unpacks the latest technical trends and macro updates across Bitcoin, Ethereum, Solana, Gold, and the broader crypto market. With BTC nearing a pullback zone, ETH flashing divergence, and Solana potentially reversing — this is your essential guide for navigating volatile markets.
Crypto Market Highlights (July 24 Update):
· Bitcoin (BTC) is trading around $117,800, down ~0.8%, after failing to hold the $120K resistance. A pullback is likely before a move toward $120K+.
· Ethereum (ETH) is under pressure at $3,580 (down ~3.7%), with bearish divergence and heavy short positions emerging on-chain.
· Altcoins including Solana (SOL), Cardano (ADA), and XRP have dropped 4–7%, with SOL showing a potential bullish divergence and reversal setup.
· Total crypto market cap remains near $4 trillion, and sentiment still sits in the “greed” zone despite short-term declines.
ETF Flow Tracker:
· Ethereum ETFs have recorded 13 consecutive days of inflows, reflecting strong institutional interest.
· Bitcoin ETFs, however, saw net outflows for the 2nd day in a row — a sign of short-term caution.
Key Technical Calls:
· Bitcoin: A short-term correction may be in play, but upside momentum continues. Target zone remains around $120K post-pullback.
· Ethereum: Currently in a bullish/bearish divergence — traders should watch for a clearer directional breakout.
· Solana: After a sharp sell-off, bullish divergence appears. Reversal likely if candlestick confirmation follows.
· Gold: Charting a bullish triangle formation, signaling strength amid global macro uncertainty.
Other Market News:
· Coinbase to list Jito Staked SOL (JITOSOL) and Metaplex (MPLX) — MPLX surged 30%+ on the announcement.
· A $19.8M short position opened on ETH by a large trader, suggesting downside risk.
· BNB token down ~2.6% in the last 24 hours.
Macro Watch:
· Tariff concerns return as Trump proposes 15–50% trade tariffs if re-elected.
· U.S. economic data including jobless claims, building permits, and PMIs may sway Fed policy and market risk appetite.
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