Crypto Summer Heats Up: Investors Flock as Markets Flash Bullish Signals

Bitcoin smashes through resistance levels—altcoins follow suit as institutional money floods in. The 'FOMO pump' is officially on.

Why now? Macro tailwinds meet max liquidity. Traders are piling into leveraged longs while Wall Street hedges with crypto ETFs (better late than never).

Watch these catalysts:

- ETH spot ETF approvals juicing DeFi blue chips

- Meme coin mania 3.0 draining Robinhood accounts

- Tether’s printer going brrrr at ATH market cap

Regulators? Distracted by fighting last year’s fires. Exchanges? Quietly rolling out 100x derivatives. Same playbook—just with more zeros.

Closing thought: When your Uber driver starts shilling shitcoins, remember—bull markets make geniuses of degenerates. Enjoy the ride.

Cryptocurrency Summer Bull Market

Negotiations with Iran are progressing, and Japan announced that trade discussions are ongoing, with the previous deadline of July 9 unofficially postponed to August 1. Uncertainty? It remains prevalent. The Federal Reserve is focused on mid-month inflation data, and, at best, a summer-end bull run might be seen. August could be a favorable period if the July-end Fed meeting signals September rate cuts.

Are the markets preparing for such moves? The Kobeissi Letter highlights activity in the Russell 3000 index, indicating that risk appetite is rejuvenating.

“Investors are targeting unprofitable companies and meme stocks: According to Bespoke Investment Group, since the market’s downturn on April 8, 10 out of 14 Russell 3000 stocks that have tripled belong to unprofitable companies.

By the end of June, 858 loss-making stocks within the index gained an average of 36%, surpassing the returns of profitable companies.

Car rental company Avis Budget Group, which achieved meme stock status for the first time in 2021, saw a 161% increase in its shares. Carvana recorded a 108% share increase over the same period.”

In summary, the surge in HYPE stocks indicating increased risk appetite suggests a potential rise in cryptocurrencies. Gold declined by approximately 1% today, presenting another signal suggesting a calming of concerns.

Bitcoin (BTC)

The BTC price reclaimed $108,000 and surpassed $109,000 following the U.S. market opening. The potential for an agreement with the EU and signals of continued talks until early August, along with multiple developments, have supported this trend.

Let’s delve into analysts’ perspectives. Carl Moon shared the BCMI chart below, stating that momentum is enhancing.

According to Jelle, a breakout has already occurred. He believes the price is preparing for a peak following the pennant breakout, with a target of $150,000.

Poppe maintains his optimistic outlook as he has for some time.

“I feel like it’s the calm before the storm. For a long time, I haven’t seen such low volatility in BTC and ETH. This hints at a major upcoming move, which I believe will be upwards. People haven’t shaken off the bear market trauma and aren’t ready for a bull market yet.”