July 2023 Roundup
All the latest news from the Crypto markets
July 2023 will be remembered for a long time in the minds of Crypto investors as Judge Torres ruled against the SEC in the Ripple vs SEC lawsuit. Meanwhile, Bitcoin continued to trade sideways as the famous volatility disappeared from the crypto markets. As the stock market rallied to 12-month highs the Crypto markets have continued to move in a range.
Back in April Bitcoin closed the monthly candle at $29,300 and the market sentiment was very positive bordering on greed. It was the highest candle close since May 2022. Fast forward to last July and a monthly close back down at the same level and investors are switching off again from Crypto. The level above between $29,000 and $32,000 is a key level as you can see from the chart above. It was a key level of liquidity and support in the summer of 2021. Holding just below this for me is still bullish and if we eventually do break this level we should see a massive short squeeze.
All the hype in the markets surrounded XRP in July as Judge Torres finally (after almost 3 years) that XRP bought and sold on exchanges could not be classed as a security. XRP pumped over 100% on the day the news broke and was immediately relisted on Coinbase, Bitstamp, and Kraken US. Gary Gensler argued the decision was incorrect and maintained his war against crypto with more claims against certain coins being securities.
Despite the huge XRP news, very little new money flowed into the market with most capital sitting on the sidelines. The market cap of the entire crypto market has traded in the $50 billion range since June 21st. The balance of USDT on exchanges has reached all-time highs at the same time the balance of Bitcoin is at all-time lows.
It seems just a matter of time before we see a god candle!
In July CC Pro announced the latest addition to our members. We release a $5k to $100k portfolio challenge that members can follow along with and hold the same allocation as Certified Crypto with just one click! All details are in CC Pro and it will take place on Bybit!
We have huge new features coming over the next few months and are officially on the countdown to the bull run!
Now is the time to join CC Pro:
https://whop.com/marketplace/certified-crypto/
