Bitcoin, Ethereum, XRP, Dogecoin Dip But 'Early July Dip Buys Will Age Well,' Trader Says

Cryptocurrency markets saw modest declines as market sentiment turned cautious following the Senate's passage of the controversial Big Beautiful Bill. The macro uncertainty combined with Bitcoin's ongoing range-bound technical structure is keeping momentum subdued.

Notable Statistics:

• IntoTheBlock data shows large transaction volume increasing by 90.4% and daily active addresses growing by 32.1%. Transactions greater than $100,000 are up from 7,612 to 11,714 in a single day. Exchanges netflows expanded by 135.2%.
• Coinglass data reports 91,656 traders were liquidated in the past 24 hours for $223.72 million.

Notable Developments:

• Bitcoin, Ethereum Could Soon Help You Get A Mortgage Now — Cathie Wood’s Ark Invest Sees $12 Trillion Opportunity After FHFA Move
• Bitcoin To Hit $200,000 In 2025, But New ETH, SOL Highs Remain In Doubt, Bitwise Says
• Public Companies Are Quietly Building Massive Bitcoin Treasuries Faster Than ETFs Can Keep Up
• New Bitcoin-Backed Stablecoin Vaults Offer Yield Strategies Without Requiring BTC Sales

Top Losers:

Trader Notes:  Crypto trader Jelle believes Bitcoin is currently testing the midpoint of a significant 8-year ascending channel. A confirmed breakout above the red dotted resistance line would mark a major technical shift and could invalidate prior bearish expectations, potentially setting the stage for an aggressive leg higher.

Meanwhile, Byzantine General downplayed fears around Bitcoin's recent drop, calling it a healthy liquidity sweep with strong volume and baseline-resetting funding rates. He sees a potential move to $104,000 as an optimal long entry, though a breakout rally could also launch from current levels.

CRG noted that the CME gap has been filled, but BTC has yet to show a strong bounce. It's sitting on a key support area but may dip further to run stops below the most recent swing low. However, there's also notable upside liquidity, and the 5-day inside bar high is acting like a magnet for price.

The consensus among these traders: early July dip buys may age well, though the exact bottom might still be slightly lower. The coming sessions could determine whether BTC confirms support or heads for one last sweep before lift-off.

Read Next: 

• Bitcoin Enters Historically Weak Q3 With Mixed Feelings: Report

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