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The broader cryptocurrency market has shifted into a heightened bearish phase, causing Bitcoin to drop from its current all-time high of $124,000 to the $117,000 threshold. While bearish pressure is building, indicators such as Bitcoin’s supply dynamics are providing insights about the current state of the market and investors’ sentiment.

What Bitcoin Supply Data Says About The Market

Bitcoin’s price has fallen sharply after reaching a new all-time high on Thursday, which has sparked speculation about the current state of the market. Amidst the growing speculations, Boris, a crypto trader and on-chain expert, has provided a detailed analysis of the current state of BTC’s market, using the supply dynamics.

Bitcoin supply patterns are currently painting a vivid picture of investor behavior, accumulation tendencies, and possible price direction, as well as the market’s health. Boris’ examination of the supply dynamics hinges on the behavior of long-term holders and short-term holders.

As Bitcoin rose to its all-time high, supply dynamics revealed a stark divergence between these different groups of investors. Presently, long-term BTC holders are steadily offloading their holdings while short-term BTC holders are persistently accumulating the asset at a rapid rate.

This divergence in sentiment between the groups indicates that the market is currently in a post-all-time high stress test. A post-all-time high stress test reflects a phase where the boundaries of market resiliency and investor belief are being tested.

With short-term holders holding strong and long-term traders responding aggressively to price fluctuations, the present phase is determining whether BTC can maintain its value and momentum following the recent high. 

Data shows that long-term holders’ supply saw a drop from 15.50 million BTC to 15.28 million BTC, which is an indication of profit-taking. Meanwhile, the supply of short-term holders rose from 4.38 million BTC to 4.61 million BTC, suggesting that the cohort is capitalizing on recent rallies.

According to the on-chain expert, this change demonstrates that STHs followed the trend and increased risk, while LTHs responded to the rally with sales. After a short period, Bitcoin’s price quickly fell back from about $124,000, putting late buyers through a stress test.

Furthermore, Boris noted that the final wave exhibits a classic market pattern where experienced holders limit their exposure and short-term holders accumulate close to the top. Such a development typically signals a loss of momentum.

Short-Term BTC Holders Are Showing Strength

A recent research from Glassnode, a leading on-chain data analytics firm, has also revealed an underlying strength among short-term BTC holders. The platform’s research is solely focused on the Bitcoin Short-Term Holder SOPR Indicator.

Specifically, this key metric tracks whether new investors are selling at a profit or loss. As BTC’s price surges, the metric temporarily dipped below neutral levels, but quickly recovered and rose above neutral. This move, according to Glassnode, shows limited realized losses and indicates that new Bitcoin investors are prepared to protect their cost basis, which is currently close to $112,000.

Featured image from Pixabay, chart from Tradingview.com

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• SOL price started a fresh upward move above the $165 and $166 levels against the US Dollar.
• The price is now trading above $165 and the 100-hourly simple moving average.
• There is a contracting triangle forming with resistance at $168 on the hourly chart of the SOL/USD pair (data source from Kraken).
• The pair could start a fresh increase if it clears the $172 resistance zone.

Solana Price Eyes Upside Break

Solana price started a decent increase after it found support near the $162 zone, like Bitcoin and Ethereum. SOL climbed above the $165 level to enter a short-term positive zone.

The price even smashed the $1682 resistance. The bulls were able to push the price above the 50% Fib retracement level of the downward move from the $172 swing high to the $162 low. However, the bears are active near the $170 zone.

The 76.4% Fib retracement level of the downward move from the $172 swing high to the $162 low is acting as a resistance. There is also a contracting triangle forming with resistance at $168 on the hourly chart of the SOL/USD pair.

Solana is now trading above $165 and the 100-hourly simple moving average. On the upside, the price is facing resistance near the $170 level. The next major resistance is near the $172 level. The main resistance could be $175. A successful close above the $175 resistance zone could set the pace for another steady increase. The next key resistance is $182. Any more gains might send the price toward the $192 level.

Are Downsides Limited In SOL?

If SOL fails to rise above the $170 resistance, it could start another decline. Initial support on the downside is near the $164 zone. The first major support is near the $162 level.

A break below the $162 level might send the price toward the $152 support zone. If there is a close below the $150 support, the price could decline toward the $145 support in the near term.

Technical Indicators

Hourly MACD – The MACD for SOL/USD is losing pace in the bullish zone.

Hourly Hours RSI (Relative Strength Index) – The RSI for SOL/USD is above the 50 level.

Major Support Levels – $164 and $162.

Major Resistance Levels – $170 and $172.

Over the past few weeks, XRP has been on a wild ride, rising from below $2.30 to highs above $3.50. A double top, a well-known bearish chart pattern, could form, but the asset’s recent momentum might be hiding this new technical risk. Based on the current price structure, XRP is making a comeback after a steep decline, after its initial breakout near the $3.50 region. 

The bulls’ continued activity is indicated by the encouraging recovery above $3.20. The catch is that if the price bounces back to the $3.50 region and does not sustain a break, it could print a second peak, the second top of the double top, which could signal a short- or medium-term reversal. 

Also contributing to the worry is the Relative Strength Index (RSI), which is once again getting close to 75. Bullish strength can be indicated by a strong RSI, but the likelihood of exhaustion is increased when high levels are retested without a fresh breakout. Another important element here is volume. 

Despite strong buying support during the rally toward $3.50, the recent ascent has been on somewhat lower volume, which may indicate waning interest. The formation of lower highs and indications of distribution should be closely monitored by traders if XRP does return to $3.50 and stalls or reverses from that level. 

The double top would be confirmed if there were a confirmed break below the neckline between $3.00 and $3.10, which could push XRP back toward support close to the 50-day EMA at $2.60 or even lower.

Ethereum stays up

Ethereum does not appear to be slowing down. Since emerging from its months-long consolidation range in early July, the second-largest cryptocurrency by market capitalization has been riding a relentless bullish wave. With its current price of $3,888, ETH has increased by more than 40% in recent weeks, and the bulls continue to have the upper hand. 

The breakout was flawless: Ethereum moved immediately and with high volume past its prior resistance level of $2,900. The 50-day EMA and that level now serve as a strong support zone. Regaining the 200-day EMA and making a strong move above the $3,300-$3,500 range, which confirmed the trend reversal and attracted aggressive buyers, further increased momentum. 

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The absence of significant drawbacks is the true clutch here. Each consolidation is brief and superficial, indicating high levels of demand. The RSI has reached overbought territory at 82, but historically, ETH can remain extended for a considerable amount of time before a significant correction occurs in strong uptrends like this one.

Psychological resistance is looming close to $4,000, which many traders may consider a short-term target. FOMO-driven inflows would probably be triggered by a clear break above it, which might push Ethereum closer to the $4,400 range, the last local peak observed in late 2021.

Watch the $3,300-$3,500 range as the immediate support on the downside. Buyers will probably intervene at those levels, which also coincide with important moving averages if ETH declines. It appears that Ethereum’s rally will continue unless a macro-level catalyst steps in. Strong momentum encouraging volume and an unquestionably bullish market structure are all present. As of right now, there are no warning signs — just a steady upward trend from a reputable cryptocurrency asset.

Bitcoin’s main target

Bitcoin has formally established $120,000 as a distinct resistance level. Following weeks of consistent rising and numerous retests, the digital gold is still being rejected around this technical and psychological ceiling, creating what seems to be a standard horizontal resistance zone.

In recent weeks price action has shown both growing exhaustion and bullish intent. BTC has failed to close above $120,000 decisively despite several intraday breakouts above that level, indicating the existence of significant sell pressure or profit-taking activity. The comparatively low volume during these attempts raises the possibility that the bulls are running out of immediate fuel to push higher without consolidation.

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It is not necessarily bearish to look at the current consolidation that is just below resistance. Indicators such as the RSI, which is currently at a neutral 61, can be reset by the market as a result of this healthy pause following a robust uptrend. There is still momentum, and moving averages, particularly the 50 and 100-day EMAs, keep sloping upward, providing strong support zones at $115,000 and $111,000, respectively.

If, on the other hand, the market is unable to make a breakthrough, it may retrace further toward the $111,000-$108,000 support band. For the most part, Bitcoin is still structurally bullish. Stronger confirmation is necessary to maintain the rally though — particularly a convincing breakout above $120,000 with supportive volume. 

The Clear Linux OS team has announced the shutdown of the project, marking the end of its 10-year existence in the open-source ecosystem.

Clear Linux is a Linux distribution developed and maintained by Intel, featuring aggressive optimizations for Intel hardware. Binaries are compiled using tuning flags designed explicitly for Intel CPUs.

It was a minimalist, modular OS that utilized software bundles for faster app installation and automatic performance tuning for optimal speed and power efficiency.

The distribution was primarily aimed at software developers, performance enthusiasts, and those working in cloud or server environments.

In an announcement to the Clear Linux forums, the team says the project will no longer receive security patches or any other updates. Therefore, its user base should migrate to other distributions for safety.

“Effective immediately, Intel will no longer provide security patches, updates, or maintenance for Clear Linux OS, and the Clear Linux OS GitHub repository will be archived in read-only mode,” reads the announcement.

“So, if you’re currently using Clear Linux OS, we strongly recommend planning your migration to another actively maintained Linux distribution as soon as possible to ensure ongoing security and stability.”

Although Intel has not officially explained why it’s shutting down the project, it could be due to low user adoption coupled with a high maintenance burden.

Considering that Clear Linux OS relied on its own package management and update system, as it is not a fork of another distribution, it required substantial engineering resources to provide user support.

Another key point may be Intel’s ongoing efforts to consolidate and tighten its operations, scaling back niche internal projects that don’t provide strategic value, and focusing more on new targets, such as agentic AI.

Although Clear Linux OS is now abandoned, the team behind it says it will remain invested in the Linux ecosystem and continue to provide Intel hardware optimizations that can be applied to other distributions and open-source software.

If you rely on Clear Linux OS, you are recommended to migrate to another distribution as soon as possible, as the lack of updates means the system will become vulnerable to flaws with known/public exploits in a short time.

Crypto Reporter

Shalini Nagarajan

Crypto Reporter

Shalini Nagarajan

About Author

Shalini is a crypto reporter who provides in-depth reports on daily developments and regulatory shifts in the cryptocurrency sector.

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Last updated: 

July 18, 2025

XRP surged past a historic milestone on Friday, trading above $3.60 for the first time, after a wave of bullish developments reshaped the regulatory and market landscape for the Ripple-linked asset.

The token peaked at $3.64, up nearly 68% over the past month, according to market data, as investors responded to a flurry of major catalysts.

Chief among them was three key crypto bills passing in the US House of Representatives, including the long-awaited GENIUS Act and CLARITY Act, which aim to bring legal clarity to digital assets.

XRP Gets Institutional Boost With ETF Debut

Adding fuel to the rally, ProShares is set to launch the first XRP futures ETF in the US on the same day. As a result, this move opens the door for broader institutional participation in the XRP market, which until now has been largely out of reach for many traditional investors.

Further, the momentum has attracted heavyweight interest. Eleven major asset managers, including Franklin Templeton, Grayscale, 21Shares and Bitwise, have already filed applications linked to XRP investment products. Together, these filings signal growing confidence in the asset’s long-term potential.

2023 XRP Court Win Could Soon Be Final

On the regulatory front, traders are watching closely for a possible breakthrough. Market chatter suggests the US SEC may soon drop its appeal in the high-profile Ripple case. If that happens, it would cement a 2023 court ruling that found XRP sales to retail investors do not constitute securities offerings under US law.

Prediction markets seem to agree. For instance, Polymarket now assigns an 88% probability that a spot XRP ETF will be approved by Dec. 2025.

In the near term, traders are closely watching two key dates: July 21 and July 25. On these days, leveraged ETF proposals could be finalized. If that happens, it may trigger broader adoption of XRP-based ETFs.

XRP Open Interest Soars 25% to $4.6B in 24 Hours

Meanwhile, derivatives market activity has surged. Coinalyze data shows XRP open interest jumped 25% in the past 24 hours, reaching $4.6b. Nearly all of that is concentrated in perpetual contracts. Notably, Binance and Bybit dominate the market, holding $1.8b and $1.6b in open interest, respectively.

Additionally, CoinGlass data reinforces the trend. In the past 24 hours, XRP liquidations reached $88.54m. This figure is higher than Bitcoin’s $79.67m and second only to Ethereum’s $206.65m. Notably, the liquidations were heavily skewed toward short positions. This suggests many traders were caught off guard by the sudden price jump.

Overall, the crypto market saw widespread liquidations. More than 153,000 traders were wiped out in a single day. In total, $577m in positions were lost. XRP played a major role in driving this volatility.

The rally’s strength appears to be gaining solid support. Rising institutional interest and whale accumulation are driving momentum. As a result, analysts now view a breakout toward $4 as a realistic short-term target.

XRP’s rise marks a sharp turnaround for the token. For much of the past three years, it was weighed down by regulatory uncertainty. Now, things have changed. With fresh legislative clarity, ETF momentum and strong market support, XRP seems to be entering a new era of legitimacy.

XRP is showing all the signs of a move brewing, and the chart doesn’t lie. After a period of consolidation, price action is tightening, and technical indicators are flashing signals of an impending move. Whether it’s a surge to the upside or a sharp reversal, the setup is in place, and momentum is building. XRP looks loaded and ready to make its next move.

Volume Remains Subdued — Calm Before The Storm?

XRP price remains trapped inside a long-standing triangle, a pattern known for building pressure before sharp directional moves. The chart shows that sellers continue to push lower highs, compressing price action toward a support level.

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Parshwa Turakhiya pointed out on X that the Exponential Moving Average (EMA) cluster between $2.17 and $2.23 is the key breakout zone capping any upward momentum. A clean break above this range could trigger a bullish reversal. On the other hand, $2.09 is the last line of defense for the bulls. If this level fails, the structure breaks down, and XRP could swiftly drop to $1.85.

Despite the building tension, the Relative Strength Index (RSI) remains neutral, which Parshwa Turakhiya describes as “the calm before the volatility storm.” The chart structure suggests that a move is imminent. With early July just ahead, Parshwa Turakhiya warns that a breakout or breakdown is coming, and it won’t be subtle. XRP is on the edge of eruption.

Fabio Zuccara stated that Dr. Profit, known for his sharp and historically accurate calls on XRP at $0.15, $0.38, and $0.50, has now projected a new mid-term target of $4.00. In a weekly chart shared via social media, XRP is forming a bullish structure, with a green arrow projecting a continuation move to the upside.

Zuccara outlined a crucial level for maintaining the bullish trajectory. This rebound adds strength to the outlook, suggesting that momentum is building in favor of the bulls.

In the same vein, SquirtleCharts revealed that XRP’s 4-hour chart has mapped out a precise path toward $3.00 target, with several resistance levels standing in the way, and each level varies in difficulty. The first is $2.22, the easy one, a weak resistance point that XRP could clear without much effort.

Next is $2.33, which SquirtleCharts labels as “a lot harder,” signaling a barrier that may require volume and conviction to break. The $2.48 level is “not too bad,” a moderate resistance area that might slow the rally but not be a roadblock. Finally, the $2.65 is the “pretty hard,” a zone where bulls may face challenges.

Perfect Technical Structure Sets Stage For Explosive Breakout

Massive move incoming for XRP. After a clean bounce off the $2.00 support level, the setup is aligning perfectly on the daily chart.

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Sara emphasizes that the chart structure looks flawless, with price action respecting critical zones and now coiling for an explosive breakout, with momentum building and bulls defending the support zone. The next target is $3.50; a breakout might happen fast.

Featured image from Istock images, chart from tradingview.com