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Published: 24 July 2026,06:17
Daily Market Analysis New
*Bitcoin slipped around 3% from its July high, while Ethereum retreated roughly 4%, as the market underwent a healthy technical correction. %, raising concerns over sentiment in the broader technology sector.
*Fresh U.S. tariff announcements, weaker Wall Street sentiment, and the first net Bitcoin ETF outflow in a week dampened investor confidence and triggered profit-taking.
*Bitcoin and Ethereum could find support at key technical levels, but trade tensions, ETF flows, and broader market sentiment will remain the primary drivers of near-term price action.
The cryptocurrency market experienced a minor technical retracement in the last session, with Bitcoin dipping around 3% from its recent July peak and Ethereum erasing approximately 4% from levels near $1,950. This pullback reflects a broader cautious tone in risk assets, interrupting the recent recovery momentum.
Several factors contributed to the selling pressure. Renewed trade uncertainties stemming from the Trump administration’s announcement of new tariffs on 60 major trading partners, citing unfair practices and forced labor concerns, have heightened global risk aversion. These developments have weighed on investor sentiment and increased fears of potential disruptions to economic growth and supply chains. Additionally, Wall Street exhibited escalated risk-off flows, partly driven by concerns over rising costs associated with artificial intelligence investments and their impact on corporate profitability. This equity market caution has spilled over into the crypto space, amplifying the downward move.
The shift in sentiment was further evidenced by Bitcoin ETFs recording a net outflow for the first time in a week, signaling a temporary pause in institutional buying interest and adding to the near-term pressure on prices.
In the near term, the crypto market is likely to remain volatile and sensitive to external developments. Bitcoin and Ethereum may find support at recent technical levels if trade tensions ease or if positive regulatory news provides a counterbalance. However, persistent risk-off flows, any escalation in tariffs or geopolitical issues, and continued focus on AI-related spending could lead to further consolidation or deeper corrections. A return to bullish momentum would require stabilization in global equities, renewed ETF inflows, and a reduction in macroeconomic uncertainties.
Overall, the market has shown resilience in recent weeks but now faces renewed headwinds that could limit upside in the immediate sessions. Participants should monitor trade policy updates, ETF flows, and broader risk sentiment closely for directional clues.
Technical Analysis
Bitcoin continues to maintain a constructive technical structure, trading within a series of higher lows while remaining supported by its ascending trendline. This price action suggests that the broader bullish bias remains intact despite recent market volatility.
Following its recent rally, Bitcoin underwent a technical retracement in the last session and is now approaching its uptrend support line. This trendline represents a crucial technical level and is likely to determine the cryptocurrency’s next directional move.
As long as BTC holds above the ascending trendline, the current pullback is expected to remain corrective in nature. A successful rebound from this support would reinforce the prevailing bullish structure and increase the likelihood of another attempt to resume the upward trend.
However, a decisive break below the ascending trendline would invalidate the series of higher lows and signal a bearish trend reversal. Such a breakdown would indicate that buying momentum has weakened, potentially triggering a deeper correction and exposing Bitcoin to a retest of its previous swing low near $59,000.
Resistance Levels: 67,251.35, 70,638.10
Support Levels: 63,763.85, 60,483.50
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