Solana outperforms as Bitcoin hovers and Ethereum pulls back
🟠 Bitcoin holds steady - under $118K as the broader crypto market cools.
🚀 Solana rises 2% - outperforming other large caps over 24 hours.
📈 XRP stays near record highs - up nearly 60% this month despite overnight dips.
📊 All eyes on the Fed - with rate cuts and Powell’s response to Trump adding tension to markets.
Bitcoin (BTC) remains steady just under $118,000 this morning, while the broader crypto market shows signs of slowing down after weeks of strong rallies. A few outliers are still pushing higher, Solana (SOL) is up more than 2%, off the back of ecosystem developments. The Jito Foundation, which aims to optimise Solana’s staking economy, announced its new Block Assembly Marketplace (BAM). BAM promises faster, more private, and programmable transactions.
Ethereum (ETH) is slightly down by about 2% this morning but still holds a 22% weekly gain. XRP remains near its all-time highs, consolidating around $3.45. Despite an overnight dip, XRP is still up nearly 60% this month, benefiting from institutional demand and positive market sentiment.
Apart from these intra-crypto developments, markets are now focused on the US Federal Reserve’s upcoming interest rate decision at the end of July. Last week, President Trump called for Fed Chair Jerome Powell’s resignation, increasing pressure on the central bank. Investors are watching not just for rate policy signals but also for how Powell responds to Trump’s remarks, adding an extra layer of drama to the inflation vs. monetary policy narrative playing out globally.
In the markets…
🌍 Total crypto market cap ↘️
The global crypto market cap is approximately $3.92 trillion, down 1.06% over the past 24 hours.
🟠 Bitcoin (BTC) ↘️
Price: $118,178, down 0.97% in the last 24 h
Daily high: $119,466
Daily low: $116,787
📈 S&P 500 ↗️
SPY is currently up about 0.14% since yesterday’s close.
🥳 Fear & Greed Index
The Crypto Fear & Greed Index stands at 67/100, indicating Greed among investors.
📊 Bitcoin Relative Strength Index (RSI) (14)
The 14-day RSI for BTC is approximately 55, in neutral territory.
Data is accurate as at 07:48 GMT, 22 July.
Cautionary Notes
It's definitely tempting to get swept up in the excitement, but please heed these words of caution: Do your own research, only invest what you can afford, and make good decisions. The indicators contained in this article will hopefully help in this. Remember though, the content of this article is for information purposes only and is not investment advice or any form of recommendation or invitation. The Digital Commonwealth always advises you to obtain your own independent financial advice before investing or trading in cryptocurrency.
