🚨Big news! The approval of ETFs and the double impact of hacker attacks have made the crypto market thrilling for 24 hours
📈 Regulatory benefits coexist with security crises. How can investors seize opportunities?
In the past 24 hours, the cryptocurrency market has experienced a baptism of ice and fire. According to Mlion.ai analysis, multiple blockbuster news came at the same time, including historic breakthroughs in regulation and market panic caused by security incidents.
🔥 Regulatory breakthroughs ignite market confidence
On July 23, the US SEC approved multiple cryptocurrency ETF applications, covering mainstream digital assets such as Bitcoin, Ethereum and XRP. On the same day, President Trump signed an executive order to establish a "Strategic Bitcoin Reserve" to authorize the federal government to hold crypto assets confiscated through law enforcement procedures.
⚠️ Security incidents trigger chain reactions
A well-known platform suffered a serious security vulnerability, and hackers stole 491,000 ETH, worth about US$1.46 billion. This incident instantly caused market panic, causing the price of Ethereum to fall by 8%, and the contract liquidation of the entire network exceeded US$400 million.
📊 In-depth analysis of market data
- 🪙 BTC: Maintaining a high of $119,000, down 0.34% in 24 hours, with a trading volume of $45.2 billion
- 💎 ETH: Affected by security incidents, it fell 2.42%, and the trading volume surged to $41.5 billion
- 🚀 Altcoins: XRP fell 8.06%, DOGE fell 8.53%, and risk appetite dropped sharply
🔍 Technical and emotional interpretation
📈 Technical analysis
- BTC stood firm at key support levels, and the 50-day moving average of $85,000 provided strong support
- The RSI indicator remained above 50, and the bullish force was not completely dissipated
😰 Market sentiment
- The Crypto Fear and Greed Index has been in the "greed" area recently
- Security incidents may push the index to swing in the "fear" direction
- Provide opportunities for keen investors to layout on dips
🌍 Improved global policy environment
The Moroccan government released the "Digital Morocco 2030" plan, investing $1.1 billion to promote the application of blockchain technology, and is expected to create 240,000 digital industry jobs, reflecting the continued improvement of global awareness of blockchain technology.
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