The broader crypto economy navigated a volatile week, with bitcoin (BTC), the flagship digital asset, once again testing the $110,000 level before concluding the week with a modest 0.4% gain. According to Coingecko data, the top cryptocurrency surged to a weekly peak of $110,307, a surge that notably coincided with the U.S. House of Representatives’ narrow passage of President Donald Trump’s contentious “Big Beautiful Bill” on July 3.
Following its brief plummet below the crucial $100,000 threshold during the recent 12-day Israel-Iran conflict, BTC has staged a robust recovery. This resilient uptrend has now sparked fervent predictions from some analysts of a potential new all-time high in the coming weeks.
In a week marked by fluctuating market dynamics, HYPE (hyperliquid) and TRX (tron) emerged as the standout performers among the top 20 digital assets by market capitalization, notching gains of 3.6% and 3.4% respectively.
For TRX, the surge was seemingly catalyzed by reports of the burgeoning stablecoin market capitalization on the Tron network. On the other hand, HYPE’s ascent was tied to reports revealing its total value locked (TVL) had rocketed by a staggering 108% over the past month. This meteoric rise propelled HYPE into the top ten chains by TVL among all decentralized finance (DeFi) protocols. Other notable gainers in the week were SUI, which closed 2.7% higher, followed by ETH with 2%.
Meanwhile, after starting the week on a high, peaking just above $158 on June 30, solana ( SOL) ended it trading above $146, or 3.9% lower, making it the biggest loser among the top 20 digital assets. Before that, SOL had trended upwards since June 22, rising by approximately 23% over eight days. However, since touching its two-week high, SOL has traded just below or above $150, indicating immediate support of around $145 to $146 and immediate resistance around $150 and $155.
Despite seeing a break in its upward trend, one analyst believes SOL could be on the cusp of a major breakout. In a post on X, social media user Batman suggested that Solana might be “sitting right on top of a strong daily demand zone.” The user argues that while a further pullback is possible, technical indicators point to an explosive rally.
“The price might be pulling back into the 0.618-0.768 fib levels, and demand between $134-$140 is holding strong by bulls. I wouldn’t be surprised if SOL dips slightly to sweep that zone again, and trap some shorts, then boom,” Batman wrote on X.
Chainlink (LINK) was the next top 20 digital asset that saw a significant reversal after dropping 2.5% to close the week at $13.04 (July 5, 2:18 p.m. EDT). It was followed by AVAX (1.8%), BCH (1.6%), and DOGE (1.4%).
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