Crypto Market Overview
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BTC (-1.30% | $65,038.50 USDT): BTC retreated after an intraday rebound and is trading below its 1-hour MA30 near $65,408. Immediate support sits around $65,000 and $64,500, while $65,400-$66,100 forms the main resistance band. Falling open interest points to leverage being reduced alongside the correction, keeping the short-term setup defensive and range-bound.
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ETH (-3.07% | $1,872.86 USDT): ETH underperformed BTC and moved below its 1-hour MA5, MA10 and MA30. The first support is near $1,860, followed by $1,840; resistance is clustered around $1,880 and $1,900-$1,908. The deeper pullback and declining open interest show that traders are cutting higher-beta exposure, so a durable rebound still needs clearer price-and-volume stabilization.
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Altcoins: The market heatmap remained broadly weak. The Crypto Fear & Greed Index stood at 36 (Fear), the Altcoin Season Index at 51, total crypto market capitalization near $2.31 trillion, and BTC dominance around 58.93%. RIF, FTT and BDX rose 81.12%, 43.73% and 28.96%, respectively, showing that the market is seeing event-driven rotation rather than a broad altcoin recovery.
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Macro: In the July 24 market screenshots provided, the Shanghai Composite fell 0.75%, the Hang Seng Index dropped 0.89%, the Dow declined 0.97%, the S&P 500 lost 1.21%, and the Nasdaq Composite fell 2.15%. The VIX rose 12.38% to 18.70, while August 2026 gold futures slipped 0.14% to $4,044.37. Broad pressure across risk assets added volatility to crypto.
Top Gainers
RIF - RIF Token (+81.12% | Circulating Market Cap: About $115M)
According to the Gate market screenshot, RIF traded near $0.12849, up 81.12% over 24 hours, within an intraday range of roughly $0.07032-$0.13247. RIF is an infrastructure token in the Rootstock ecosystem, supporting identity, payments, and decentralized services built around Bitcoin's sidechain environment.
RIF's open interest rose roughly 131% over 24 hours, while one-hour RSI approached 68 and price moved close to the upper Bollinger Band. Momentum is strong, but leverage and crowding have increased at the same time. The move appears to combine renewed interest in Bitcoin infrastructure with low-float elasticity. VIP portfolios should watch whether volume persists and whether $0.118-$0.120 can become support, rather than extrapolating a one-day surge into a durable trend.
FTT - FTX Token (+43.73% | Circulating Market Cap: About $67.55M)
According to the Gate market screenshot, FTT was valued near $0.20604, up 43.73% over 24 hours. Turnover and order-book liquidity were substantially thinner than in major assets, making the price more sensitive to limited depth, concentrated positioning, and event-driven expectations.
FTT's surge should not be treated as evidence of fundamental recovery. Short-term speculation has increased, while the taker buy/sell ratio remains notably weak and price can reverse rapidly. For VIP portfolios, FTT is more useful as an event-risk and sentiment indicator than as a core holding. Liquidity, trading-pair depth, and legal-event risk should carry more weight than the headline gain.
BDX - Beldex (+28.96% | Circulating Market Cap: About $970M)
According to the Gate market screenshot, BDX traded near $0.11949, up 28.96% over 24 hours, within an intraday range of roughly $0.09262-$0.15631. Beldex is an ecosystem token focused on private transactions and privacy-oriented communications.
BDX remains above short-term moving averages, but the latest hourly bar showed a drawdown close to 10%, indicating wider disagreement at higher prices. Elevated ADX confirms a strong trend, yet the pullback from the intraday high raises slippage and reversal risk. The $0.110-$0.120 area is the key zone to monitor. If turnover fades, a strong trend can quickly shift into a wide trading range.
Alpha Highlights
Bitwise Indicators Suggest Crypto May Be Near a Cyclical Bottom
PANews reported on July 24 that Bitwise CIO Matt Hougan sees several sentiment, valuation and deleveraging indicators consistent with a market bottoming process. Prices remain under pressure, but extreme pessimism and leverage reduction may be improving the medium-term risk-reward profile.
Bottoming signals do not guarantee an immediate reversal. A hold above $64,500-$65,000 and a reclaim of $66,000 would strengthen the recovery case, while continued weakness across global risk assets could prolong the base-building process.
AFX Cross-Chain Bridge Exploit Drains About 24.15M USDC
The Block, citing a joint Visa-Artemis report, said card rails are likely to remain dominant for large-ticket consumer spending, while stablecoins are better suited to the high-frequency, low-value, programmable payments expected in an AI-driven agentic economy. The report argues that AI agents will likely use both payment rails at different stages of a task rather than having one fully replace the other.
For crypto, that matters because the battle around stablecoins is shifting from issuance alone to who can plug into the next generation of automated commerce. Once AI agents start paying for subscriptions, data, compute, and cross-platform task execution on behalf of users, stablecoins gain a natural advantage through 24/7 programmability and lower settlement friction. That widens the valuation lens from payments to AI-native commercial infrastructure.
Mirae Asset Securities Raises Its Korbit Stake to 97.15%
Foresight News reported that Mirae Asset Securities increased its stake in South Korean crypto exchange Korbit to 97.15%. The deal signals deeper integration between traditional securities, wealth management and regulated digital-asset services in Korea.
For markets, this is not just another procedural headline. It is a signal about whether the U.S. can keep moving toward a workable crypto market-structure framework in 2026. If the ethics section remains unresolved, investors may reassess the timing of follow-on rules for stablecoins, exchanges, and custody. If talks make progress, expectations for U.S. regulatory clarity are likely to improve.
References:
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Disclaimer
Investing in cryptocurrency markets involves high risk. Users are advised to conduct their own research and fully understand the nature of the assets and products before making any investment decisions. Gate is not responsible for any losses or damages arising from such decisions.
