Markets in recovery mode supported by the dollar

Fundamental data

Last week, the crypto market has been following the equity market. While stocks initially lost some momentum their rise towards the end of the week also helped most tokens to rise. The SpaceX IPO might have also had some positive influence here. The company holds more than USD 1.3 billion in Bitcoin reserves. It might be interesting during the first earnings cycle how the holdings of BTC in a bear market can actually work.

While current moves only look like a retracement the continuation throughout the month might also help to reinstall fresh upside momentum.

However, the negative headlines in regards to Quantum computing power does not stop. Also, Anthropic newest AI models allow users to generate code at a faster speed. Security issues of some tokens might hence be used in order to gain unauthorized access. So far this year DeFi protocols have lost more than USD 840 million in the first five months.

Technical analysis:

– BTC: Bitcoin is trading at USD 64,2472. BTC has been able to break off the lows of early June and now keeps retracing higher. The market might be able to push higher and could eventually reach the psychological USD 70.000 price level. 

BTCUSD, daily chart

As it can be seen on the chart above, the next hurdles will also come at about USD 66.800 as well as USD 68.700. Next moves might also depend on the momentum of the dollar. If the greenback will start to rise again, almost immediately the downside might start to gain traction again.

– ETH: Ethereum is trading at USD 1,673. The token remains well below the technical support level of the rising long-term trend. 

ETHUSD, monthly chart

Only a rise well above the level of USD 2.000 will attribute for fresh positive momentum. However, positive sentiment might still occur towards the end of the month and hence support the market to rise again. A similar pattern had happened in April 2025 with that bullish turnaround. If the price will remain below that zone in the coming weeks, a further slide in prices should be expected.

– XRP: Ripple is trading at USD 1.1411. Last week, the token did not offer any direction and instead continued to trade in a sideways pattern. 

XRPUSD, monthly chart

It still should be seen as positive, that the market continues to trade above the 50- moving average level. While above USD 1.3500 fresh positive momentum might follow, whereas if that zone breaks the downside will likely increase. Based on the patterns in the past a rise in prices was rather of short-term nature, followed by extended periods of sideways movements.

– SOL: Solana is trading at USD 67.95. Following the slide in prices two weeks ago the price of Solana has not been able to stabilized much. Instead, the downside pressure might intensify if the general market sentiment turns sour again.

SOLUSD, weekly chart

Traders should hence expect that the downside will continue. A break of the USD 63.00 level might cause the market to fall further. Potential targets should then be found in the range of USD 30.00.