Crypto Price Analysis 8-1: BITCOIN: BTC, ETHEREUM: ETH, SOLANA: SOL, RIPPLE: XRP, STARKNET: STRK

The cryptocurrency market has registered a substantial decline over the past 24 hours, as investor sentiment soured after analysts highlighted concerns about a growing threat to the independence of the Federal Reserve, following the dissent of two Trump-appointed officials with Wednesday’s rate cut decision. 

Seasonal headwinds have also impacted market sentiment as Bitcoin (BTC) and other cryptocurrencies lost momentum. BTC registered a substantial increase in bearish sentiment as it dipped below $118,000, falling to an intraday low of $114,758 before reclaiming $115,000 and moving to its current level. BTC is down over 2% during the ongoing session, trading around $115,634. 

Ethereum (ETH) registered a bigger drop as it fell below $3,700. The world’s second-largest cryptocurrency is down nearly 5%, trading around $3,680. Meanwhile, Ripple (XRP) dipped below $3 and is down almost 6% at $2.95. Solana (SOL) is down 7%, trading at $168, while Dogecoin (DOGE) is down nearly 8%. Cardano (ADA) is down over 7% at $0.724, as all of the top ten coins traded in bearish territory. Stellar (XLM), Chainlink (LINK), Hedera (HBAR), Toncoin (TON), Litecoin (LTC), and Polkadot (DOT) also registered substantial declines. 

SEC Launches “Project Crypto” 

The United States Securities and Exchange Commission (SEC) has announced the launch of “Project Crypto” to help modernize cryptocurrency regulation in the US. The initiative was announced by SEC Chair Paul Atkins and will help the US financial markets transition to on-chain operations. One of the primary goals of Project Crypto is to ensure that the US maintains its leadership in capital markets and cutting-edge technologies. Atkins has stressed that the SEC “reshore businesses that have moved out of the US” due to regulatory uncertainty and the “regulation-by-enforcement” approach under the previous administration. The SEC will also create a comprehensive framework for the distribution of digital assets in the US. 

Blockchain.com CEO Peter Smith called the new initiative “mega bullish,” adding that it legitimizes the nascent asset class. 

“The SEC is now fully dedicated to bringing crypto onshore to America, markets on chain, and letting consumers make their own choices. This is mega bullish.”

SEC Chair Atkins proposed easing licensing requirements for multiple asset classes, or trading instruments, to be offered by brokerages under a single license. He also proposed that regulatory exemptions and grace periods be given to early-stage crypto projects, initial coin offerings, and decentralized software, allowing them to innovate without being burdened by litigation or regulatory reprisal. 

“Many of the Commission’s legacy rules and regulations do not make sense in the twenty-first century, let alone for on-chain markets. The Commission must revamp its rulebook so that regulatory moats do not hinder progress and competition, from both new entrants and incumbents, to the detriment of Main Street.”

South Korea Targets Leveraged Crypto Lending With New Rules 

South Korea’s financial regulators will release guidelines on crypto lending services to tighten oversight and protect investor interest amid rising concerns about over-leveraged crypto products. The country’s Financial Services Commission (FSC) and the Financial Supervisory Service (FSS) announced a joint task force to create a regulatory framework for crypto lending services. The move comes after South Korean exchanges Bithumb and Upbit introduced new lending services. According to local media reports, Bithumb has allowed users to borrow four times their collateral, while Upbit is offering loans worth up to 80% of the user’s asset value. 

The task force’s primary duty is to address the lack of safeguards for investors. It includes representatives from the FSC, FSS, and the Digital Asset Exchange Alliance (DAXA), a self-regulatory organization formed by five major crypto exchanges operating in South Korea. The task force will consider international rules, traditional stock market regulations, and the intricacies of the local crypto market to form new guidelines. 

Coinbase Reports $1.5 Billion In Revenue For Q2 2025 

Cryptocurrency exchange Coinbase has reported $1.5 billion in revenue for Q2 2025, a 3.3% increase from Q2 2024. However, the figure is a 26% drop from the previous quarter due to low retail activity. The platform’s earnings per share were $0.12 per share, significantly lower than the $1.19 forecast. Coinbase also fell short of analyst expectations across key categories. Retail trading volume was $43 billion, well short of the $48 billion forecast, while total trading volume reached $237 million. 

However, Coinbase’s subscription and services revenue grew 9% year-over-year to $655 million. Stablecoin revenue rose 12% from Q1 to $332 billion thanks to its revenue-sharing deal with Circle. However, this was still under analyst expectations of $705 million. 

CoinDCX Employee Arrested In Connection With Hack 

Authorities arrested a CoinDCX employee in connection with the $44 million hack, as the investigation into the incident continues. Police detained software engineer Rahul Agarwal after it was discovered hackers had compromised his login credentials to orchestrate the attack. The arrest was made after a complaint and internal investigation by CoinDCX operator Neblio Technologies. The investigation revealed that Agarwal’s credentials had been compromised through his work laptop, allowing the hackers to gain access to the company’s servers. Agarwal denied any involvement in the theft, but admitted he was taking on part-time work for other clients while still employed at CoinDCX. CoinDCX has not commented on the arrest, stating it cannot engage with the media in an ongoing investigation. 

“We urge the media and the public to avoid speculation or the circulation of unverified information, as it may impede the ongoing investigation.”

Bitcoin (BTC) Price Analysis 

Bitcoin (BTC) extended its losses for a fifth day, dropping below the crucial $118,000 mark late on Thursday. The flagship cryptocurrency dropped almost 2% on Thursday to settle at $115,800. BTC has continued to drop during the ongoing session, falling below $115,000 to its current level of $114,726, and has spent all week in the red as bearish sentiment around the asset intensifies. The selloff began on Wednesday after Federal Reserve Chair Jerome Powell’s press conference and the release of the FOMC minutes. Powell stated that the Fed had elected to keep interest rates unchanged. 

However, Trump-appointed governors dissented, raising questions about the Federal Reserve’s independence and further hampering sentiment. With sell pressure rising, BTC could not stay above $118,000 and dropped towards the lower end of its trading range, settling at $115,800. It lost the $115,000 level during the ongoing session, with even a major BTC purchase by Michael Saylor’s Strategy doing little to stimulate price action. 

BTC’s substantial decline came after US President Donald Trump signed an order outlining trade tariffs against several key trading partners. The tariffs will take effect in seven days, slightly later than the original August 1 deadline. However, markets are still unclear about the upcoming tariffs, given that the US struck several last-minute deals with trading partners. The President’s tariff policy has been a major source of uncertainty for the Fed, which left tariffs unchanged after the latest FOMC meeting. 

Some analysts have argued that the current bull cycle is over, stating that a potential downtrend could take the flagship cryptocurrency below the $100,000 level. According to the analyst, BTC could crash to $60,000 if the downtrend continues. The analyst based his projection on BTC’s previous price action, when it crashed 84% after reaching the trendline in 2017 and 77% in 2021. It also aligns with statistical data that shows the months of August and September see sustained selling pressure. 

BTC started the previous week in positive territory, reaching an intraday high of $119,603 on Monday. However, it could not stay at this level and settled at $117,402, ultimately registering a marginal increase. Bullish sentiment intensified on Tuesday as BTC rallied, rising over 2% to cross $119,000 and settle at $119,982. Despite the positive sentiment, the price lost momentum on Wednesday, dropping 0.99% to a low of $117,321 before reclaiming $118,000 and settling at $118,798. Sellers retained control on Thursday as BTC registered a marginal decline and settled at $118,381. Selling pressure intensified on Friday as BTC plunged to an intraday low of $114,779. However, it rebounded from this level to reclaim $117,000 and settle at $117,565, ultimately dropping 0.69%.

Source: TradingView

BTC recovered over the weekend, registering a marginal increase on Saturday and rising 1.31% on Sunday to reclaim $119,000, settling at $119,398. The price was back in the red on Monday, dropping 1.11% to $118,069. BTC faced volatility on Tuesday before registering a marginal decline and settling at $117,925. The price fell to an intraday low of $115,772 on Wednesday before recovering and settling at $117,788. Bearish sentiment intensified on Thursday thanks to tariff concerns. As a result, BTC fell nearly 2% to $115,800. The current session sees BTC down 1%, trading around $114,694. 

Ethereum (ETH) Price Analysis 

Ethereum (ETH) has registered a substantial decline over the past two sessions as market sentiment turned bearish. Market sentiment nosedived following Fed Chair Jerome Powell’s press conference after the FOMC meeting. Trump’s latest order on tariffs and macroeconomic headwinds has also dampened investor sentiment. Despite the substantial decline, analysts have stated that ETH’s bullish structure will remain intact as long as the price stays above $3,500. Institutional interest in ETH has surged in recent sessions, with Ethereum ETFs amassing $21 billion in ETH. 

The emergence of Ethereum treasury companies and stablecoin regulation has also changed investor perception of ETH, with companies rushing to add the world’s second-largest cryptocurrency to their reserves. According to a new Standard Chartered report, ETH treasury companies could ultimately hold 10% of all ETH in circulation. 

“ETH treasury companies are just getting started; they will likely 10x from here.”

Companies such as BitMine and SharpLink Gaming have already started buying ETH. BitMine aims to purchase 6 million ETH, while SharpLINK has already accumulated 438,000 ETH. Ether Machine has also purchased ETH worth $$57 million. 

ETH started the previous weekend with a marginal increase, rising to $3,674. However, it lost momentum on Tuesday, dropping 0.44% to $3,747. Selling pressure intensified on Wednesday as the price fell over 3% to $3,629, but not before dropping to a low of $3,531. ETH recovered on Thursday despite selling pressure, rising over 2% to reclaim $3,700 and settle at $3,707. Buyers retained control on Friday as the price rose 0.50% and settled at $3,726. Price action remained positive over the weekend as ETH rose 0.46% on Saturday and nearly 4% on Sunday, crossing $3,800 and settling at $3,875.

Source: TradingView

ETH lost momentum on Monday despite the positive sentiment, dropping 2.01% to $3,797. It faced volatility on Tuesday as buyers and sellers struggled to establish control. Sellers ultimately gained the upper hand as the price registered a marginal decline. ETH fell to an intraday low of $3,680 on Wednesday as selling pressure intensified. However, it recovered to reclaim $3,800 and settle at $3,811, ultimately registering a 0.42% increase. ETH was back in the red on Thursday, dropping almost 3% to $3,699. The current session sees the price down over 2%, trading around $2,616.

Solana  (SOL) Price Analysis

Solana (SOL) extended its losses for a fifth consecutive day as bearish sentiment around the asset intensified. SOL dropped below $180 on Wednesday and continued declining on Thursday, falling over 3% to $172. The altcoin has dropped below $170 during the ongoing session, trading around $167. SOL has witnessed substantial development after major asset managers, including Grayscale, VanEck, Bitwise, Canary, Franklin Templeton, Fidelity, and CoinShares, submitted amended S-1 registration forms for their proposed ETFs. Bloomberg ETF analyst Eric Balchunas and ETF Store President Nate Geraci stated that the amended filings display active engagement between the ETF issuers and the Securities and Exchange Commission (SEC).

SOL started the previous week on a bullish note, surging nearly 8% to cross $190 and settle at $195. Buyers retained control on Tuesday as the price rose over 5% to cross $200 and settle at $205. Despite the positive sentiment, SOL was back in the red on Wednesday, dropping 7.92% and settling at $189. Selling pressure persisted on Thursday as the price fell over 3% and settled at $182. SOL plunged to an intraday low of $175 on Friday as selling pressure intensified. However, it rebounded from this level to reclaim $180 and settle at $186, ultimately registering a 2.13% increase.

Source: TradingView

Price action was mixed over the weekend as SOL registered a 0.99% drop on Saturday before rising 2% on Sunday to settle at $188. It was back in bearish territory on Monday, dropping over 3% to $183. Sellers retained control on Tuesday as the price fell 0.84% to $181. SOL plunged to an intraday low of $170 on Wednesday before rebounding to settle at $177, ultimately dropping 2.06%. Selling pressure persisted on Thursday as SOL fell over 3% to $172. The current session sees the price down 2.45%, trading around $168.

Ripple (XRP) Price Analysis

Ripple (XRP) dipped below the crucial $3 level during the ongoing session, with the price down almost 3% at $2.93. The sudden decline saw the altcoin drop from an intraday high of $3.17 to $3.02 on Thursday, with the downtrend continuing during the ongoing session. Whale activity surrounding XRP paints a mixed picture. XRP whales have liquidated a substantial amount over a 90-day period. However, large holders have also accumulated over 300 million XRP tokens, valued at around $1 billion.

XRP started the previous week in positive territory, rising almost 3% to $3.55. It registered a marginal increase on Tuesday before plunging over 10% on Wednesday, dropping to $3.18. Sellers retained control on Thursday as the price fell to an intraday low of $2.95. However, it rebounded from this level to reclaim $3 and settle at $3.14, ultimately registering a drop of $1.26%. XRP registered a marginal decline on Friday but rebounded over the weekend, rising 0.76% on Saturday and over 2% on Sunday to settle at $3.24.

Source: TradingView

The price was back in the red on Monday, dropping almost 4% to $3.12. It registered a marginal increase on Tuesday but lost momentum on Wednesday, falling over 1% to $3.09. Selling pressure intensified on Thursday as XRP fell 2.41% and settled at $3.02. The price is down almost 3% during the current session, trading around $2.93.

Starknet (STRK) Price Analysis

Starknet (STRK) registered a sharp increase on Monday (July 21) and reached $0.153. However, it lost momentum on Tuesday, dropping over 3% to $0.148. Selling pressure intensified on Wednesday as STRK plunged almost 11% and settled at $0.132. Sellers retained control on Thursday as the price fell 4.55% and settled at $0.126. Despite the overwhelming selling pressure, STRK recovered on Friday, rising almost 6% to settle at $0.133.

Source: TradingView

Price action was mixed over the weekend as STRK registered a marginal decline on Saturday before rising 5% on Sunday to settle at $0.138. STRK was back in the red on Monday, dropping over 7% to $0.128. It faced volatility on Tuesday as buyers and sellers struggled to establish control. Sellers ultimately gained the upper hand as the price registered a 0.78% drop and settled at $0.127. Selling pressure intensified on Wednesday as STRK fell to an intraday low of $0.116. However, it rebounded to settle at $0.124, ultimately dropping 2.36%. Sellers retained control on Thursday as the price fell over 6% to $0.116. The current session sees STRK down almost 2%, trading around $0.114.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.