비트코인·이더리움·XRP: 반등의 신호인가, 아니면 더 큰 폭락의 시작인가?

암호화폐 시장이 다시 한번 숨고르기에 들어갔다. 주요 코인들이 연일 등락을 반복하면서 투자자들의 가슴을 철렁이게 만들고 있다.

시장의 교차점

비트코인은 60,000달러 선에서 발버둥치고 있고, 이더리움은 3,000달러 지원선을 지키려 애쓰는 중이다. XRP는 변동성이 특히 심해져 단기 트레이더들에게는 기회이자 위협이 되고 있다.

기술적 신호 읽기

차트 분석가들은 지지선 테스트를 주목하고 있다. 일부는 이번 조정이 건강한 기술적 수정이라고 주장하는 반면, 다른 이들은 더 깊은 하락의 전조라고 경고한다. 암호화폐 시장이 전통 금융 시장과의 상관관계가 높아지면서 매크로 경제적 요인에 더 취약해졌다는 지적도 나온다.

전문가들의 엇갈린 진단

곰들은 연준의 금리 정책이 암호화폐 시장에 계속해서 부담으로 작용할 것이라고 예측한다. 반면 황소들은 기관들의 지속적인 유입이 바닥을 형성하고 있다고 주장한다. 금융 전문가들이 여전히 '디지털 황금'이라는 개념을 이해하지 못하는 모습은 여전히 우스꽝스럽기만 하다.

투자자들에게 남은 선택지

단기적으로는 변동성이 계속될 전망이다. 장기 투자자들에게는 매수 기회로, 단기 트레이더들에게는 위험 관리가 중요한 시점이다. 시장이 다음 방향을 정할 때까지는 모든 눈이 주요 기술적 지표에 고정될 것이다.

1. Block

Block has not performed well this year due to weaker-than-expected financial results. In the second quarter, the company's revenue dropped almost 2% year over year to $6.05 billion. However, Block's gross profit still jumped 14% to $2.54 billion, while its adjusted earnings per share ROSE 32% to $0.62.

Image source: Getty Images.

Gross profit at Block's two core businesses, Square and Cash App, both increased at a good clip. Square first started as a provider of sleek and convenient point-of-sale systems and now offers a range of services to small and medium-sized businesses, helping them run their operations more efficiently. Cash App, a peer-to-peer payment app, has also extended its reach and now competes with banks in many categories. It offers stock and cryptocurrency trading, a debit card, direct deposits, and more.

Both of these parts of Block's business should provide important long-term growth avenues. For instance, Cash App is especially popular among younger people, including teens (who require parental approval to have an account). Block sees a major opportunity as its younger customers mature and start earning and spending more money. Block's focus on younger consumers could pay rich dividends down the road.

The company will also continue to offer more services. The buy-now-pay-later (BNPL) options introduced by Cash App during the past few years have become increasingly popular and were one of the drivers of the app's strong gross profit growth in the second quarter. Even without increasing the number of users, Cash App is increasing engagement -- that is, existing customers opting for more services -- which is helping drive strong results for that side of the business.

Some may be concerned about Block's reliance ontrading. The company's lower revenue from this segment in Q2 was a key reason for its decline in top-line growth. crypto trading can be volatile, so while it will sometimes help Block's revenue soar, it will, occasionally, have the opposite effect. Even so, Block's core business outside of that is performing well and presents attractive long-term prospects. That's why, after declining 14% this year, the stock is a buy.

2. PayPal

PayPal also disappointed investors with its Q2 results, particularly with its free cash flow, which decreased significantly during the period. Even so, the fintech leader's free cash FLOW outlook for 2025 remained intact, so this is hardly something to worry about. Meanwhile, PayPal remains one of the largest ecosystems among fintech companies. It ended the second quarter with 438 million active accounts and boasted a total payment volume of $443.5 billion during the period, representing a 6% year-over-year increase.

PayPal is one of the most trusted entities in its niche, among both consumers and businesses. The numerous transactions it facilitates give it access to a wealth of data, including trends and user preferences. That's why the company recently decided to launch an advertising business, enabling merchants to target potential customers with greater precision using shopping data.

This is still a new opportunity for PayPal, but it has the potential to become highly profitable in the future. The company's Core business, though, remains underpenetrated. PayPal estimates a combined $325 billion opportunity in payments, both online and offline, as well as an $800 billion opportunity in advertising.

The company's total addressable market dwarfs its trailing 12-month revenue of $32.3 billion. Although it won't capture this entire market, it doesn't need to. It's well-positioned to grab even a slice of it thanks to its existing position, brand name, and network effects. PayPal remains a worthwhile investment, despite its 21% stock price decline this year.