Weekend Edition with John O'Donnell
Merlin and John break down the weeks biggest topics including the huge selloff in the Chinese exchanges, the ongoing Greek debt restructuring saga, the issues with the New York Stock Exchange and much more!
Editor's Picks
Ripple (XRP) remains pressured on Friday, trading around $1.03 at the time of writing. The token appears to hold this current level as support but lacks a catalyst to sustain a knee-jerk rebound toward the next key resistance at $1.10.
The cryptocurrency market is stabilizing on Friday as prospects for de-escalation in Middle East geopolitical tensions improve. Artificial Intelligence (AI)-focused tokens such as Chainlink (LINK), Near Protocol (NEAR), and Bittensor (TAO) continue to face selling pressure, yet are defending key technical support levels.
Spot Bitcoin ETFs are yet to see outflows this month, bringing in $754 million in the first week of August. Yet, Bitcoin remains steady at $64,700, while options flow favors protection at $62,000 and $63,000. The opposing signals point to a market with a spot bid but limited conviction.
Cryptocurrency prices are relatively stable on Friday, with Bitcoin (BTC) edging higher above the immediate $64,000 support. Ethereum (ETH) holds fairly above the short-term $1,900 demand area, as bulls target a potential breakout. Meanwhile, Ripple (XRP) maintains a dominant bearish outlook, edging lower toward the crucial $1.00 support.
Bitcoin (BTC) remains resilient, trading above $65,000 on Friday, with bulls defending key support despite cautious market sentiment. US-listed spot Bitcoin Exchange-Traded Funds (ETFs) showed strong inflows through Thursday, pointing to renewed institutional demand.
