📈 Trading volume has veered heavily toward Bitcoin, Ethereum, & Solana as crypto's topsy turvy week ends on a good note. It's common for market-wide growth to be powered by these layer 1's, then redistributed to layer 2's & more. This may be a likely outcome for this weekend.

📺 Is Ethereum's stagnant price performance just a repeat of Bitcoin's own ETF letdown from January? Will we see the #2 market cap skyrocket after novice traders sell their ETH? Enjoy our latest video with 3xCapital!

Bitcoin (BTC) is on a volatile ride inside a five-month price range between $60,000 and $72,000. However, the Market Value to Realized Value (MVRV) and Network Value-to-Transaction (NVT) onchain indicators suggest BTC could be ready for expressive growth.

On July 26, these metrics hint at a favorable scenario for Bitcoin to retest and possibly break the range’s resistance.

As of this writing, Bitcoin trades at $67,500 with a recovering 90-day MVRV ratio of 4.74% and a circulation-based NVT in a downtrend at 248 points. The potential breakout, however, may not occur immediately, and BTC could retest the range’s support before bouncing back up.

Read more at Finbold: https://finbold.com/bitcoin-price-is-set-for-expressive-growth-according-to-key-indicators/

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Markets appear to be making up for lost time, and we talked about how this pump was likely coming sooner rather than later.

Enjoy our latest show with Thinking Crypto, where we discussed the rising whale accumulation & other factors that would likely lead to the surge we're seeing now!

🐳 Whale activity is clearly being impacted by the release of Ethereum's 9 new spot ETF's. Since July 17th, the amount of ETH transfers exceeding $100K in value is +64% higher than the amount of BTC transfers, and +126% than the amount of USDT (on ETH) transfers. 🤯

Catch our full hour-long discussion about the state of crypto, and how the LINK prediction on SanR has gone thus far for Trav! Thanks for supporting our continued video content. :)

🇺🇸 The news of Joe Biden's rejection of the democratic representation in the upcoming US election led to an immediate small panic drop in crypto prices.

Though wildly different circumstances, the news of the Trump attempted assassination from 2 weeks ago caused a similar price pattern. Throughout the closing hours of Sunday, prices quickly bounced after an initial drop, and are now quite volatile to start the week.

Expect for Biden's endorsement of Kamala Harris as a signal that any news of her or other potential replacement candidates will be consistently trending topics that impact crypto. Regardless of your own vested interest (or indifference) to US politics, social volume of these major topics continue to prove fragile correlations with speculation-driven cryptocurrency prices.

🤫 The crowd's gone silent after Bitcoin and crypto have enjoyed a somewhat surprising rebound the past 2 weeks. Those vocal about an impending bear market in early July have essentially disappeared as BTC has neared $70K once again.

Bitcoin’s Network Value-to-Transaction (NVT) ratio reached an all-time high on July 20. The NVT indicator is often compared to the price-to-earnings (P/E) indicator for stocks, which is used for fundamental analysis.

As observed, Bitcoin’s seven-day NVT ratio is at 231 considering a $36.5 billion transaction volume at $66,500. In 2021, the Network Value-to-Transaction peaked at 58 with BTC trading at $44,800 and $106.92 billion transacted on-chain.

This is a direct result of an aggressive increase in the BTC price, which was not followed by network activity. In summary, the cryptocurrency price is rising while Bitcoin’s transaction volume is holding at historically low levels.

Therefore, this suggests a mostly speculative demand for an asset without a proportional organic demand and could hint at an impending correction if the network activity does not pick up.

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📊 All of the major volume spikes from the past month, illustrated by different sectors.

📈 Increased volume in Bitcoin and Layer 1 assets lead to future crypto rises
➡️ Increased volume in AI & Big Data coins are neutral
📉 Increased volume in meme coins lead to tops