Bitcoin drops to $107,992.51, down 1.07% in 24 hours, as long positions face liquidation risks.
Ethereum trades at $2,542.31, down 1.11%, while Solana slides 2.00% after the ETF delay.
DOGE leads the decline among the top ten tokens with a 3.66% drop.
Ripple CEO testifies in the US Senate, calling for pro-crypto regulation.
Crypto prices today show bearish sentiment as the global market cap goes down by 1.15% to $ 3.33 trillion. According to reports, the market experienced a total of $169 million in liquidations, with $123 million wiped out from long positions. Market Sentiment is on edge as macroeconomic uncertainty and regulatory ambiguity continue to cloud investor confidence.
Let’s dive into how the world’s top ten tokens are performing today.
Crypto prices today opened weak as Bitcoin slid 1.07%, trading at $107,992.51. The top crypto holds a market cap of $2.14 trillion, with a daily trading volume of $45.38 billion.
If Bitcoin price drops below $106,000, liquidation pressure could intensify. It means that $1.309 billion in long positions will be at risk across major centralized exchanges. Analysts point to weak spot buying and fading momentum near the $108,000 mark as signs of a potential correction.
Market data from Greeks.live suggests growing bearish sentiment near the $105,000 support zone. Traders appear split between positioning for a breakout or a major correction.
Ethereum price today is $2,542.31, marking a 1.11% drop in the last 24 hours. ETH’s market capitalization stands at $306.9 billion, with a trading volume of $17.47 billion.
Ethereum is under pressure due to a lack of clear ETF approval timelines and broader selling in large-cap altcoins. Although institutional interest in the token remains steady. Despite its strong infrastructure adoption, ETH's price reflects broader uncertainty tied to regulatory and macroeconomic volatility.
Top tokens are on a downtrend following Bitcoin and Ethereum’s price trends:
-Solana fell 2.00% to $148.94, with a market cap of $79.77 billion.
The SEC’s delay of Fidelity’s Solana ETF has triggered fresh doubts about near-term institutional inflows into SOL. Investors had hoped a decision would set a precedent for other spot crypto ETFs. Instead, the delay has been interpreted as a signal of continued regulatory hesitation.
-BNB (BNB) dropped by 0.23% to $659.62, and XRP (XRP) lost 0.11% to trade at $2.26.
-Cardano (ADA) and TRON (TRX) also saw declines of 1.58% and 0.37% respectively.
Also Read: Is Altcoin Market Fading or Quietly Gearing Up for a Rally
Dogecoin dropped 3.66%, now priced at $0.1678. Despite a high 24-hour trading volume of $1.11 billion. Its market cap has slipped to $25.18 billion.
Meme coin activity has cooled as investors shift their focus to tokens with stronger fundamentals or those with upcoming regulatory clarity. DOGE continues to represent retail sentiment but has struggled to sustain gains amid market-wide fatigue.
Stablecoins continue to hold firm. These tokens continue to serve as key instruments for liquidity and risk management amid market swings.
-Tether (USDT) is priced at $1.00 with a slight 0.01% drop. It is the most traded stablecoin, with a 24-hour volume of $61.92 billion. USDT has a circulating supply of 158.65 billion.
-USD Coin (USDC) is trading at $0.9998, showing no significant change. It is backed by $8.73 billion in trading volume.
Several legal, political, and macroeconomic developments are shaping crypto prices today:
Ripple Senate Hearing: On July 9, 2025, Ripple CEO Brad Garlinghouse will testify at the US Senate Banking Committee hearing titled ‘From Wall Street to Web3.’ He plans to urge lawmakers to pass two major bills, the CLARITY Act and the GENIUS Stablecoin Act.
“Establishing constructive cryptocurrency market structure legislation is crucial for ushering in a new era of innovation and financial opportunities while ensuring consumer protection,” Garlinghouse said, talking about the upcoming hearing.
Coinbase’s Crypto Push: A Coinbase-backed group, containing over 65 crypto companies, submitted letters supporting the CLARITY Act. They warned that without clear rules, the US risks falling behind in Web3 innovation. The Act proposes transferring oversight of most cryptocurrencies to the CFTC, minimizing the SEC’s influence.
Trump Postpones Tariffs: On the macro side, President Donald Trump delayed new tariff decisions until August 1. Thus, providing temporary relief to risk markets.
Feds Rate Cuts: Goldman Sachs forecasts that the Federal Reserve could begin cutting rates by September 2025. Hence, aiming for a target range of 3%-3.25%.
Crypto prices today are reacting to a mix of institutional hesitation, legal developments, and macroeconomic uncertainty. Bitcoin's position near $108,000 raises concerns about upcoming liquidations. Ethereum and Solana have dipped in tandem with regulatory delays. Meanwhile, DOGE leads the losses among meme coins.
On the other hand, Ripple's testimony and growing legislative support suggest that the US may be inching closer to the much-needed clarity on crypto. Although the groundwork for regulatory momentum is building, traders should stay cautious,
Also Read: Polymarket and X: The Future of Prediction Markets in Crypto
1. Why is the crypto market down today?
The crypto market is experiencing a downturn today due to several key factors. US legal developments, including ongoing ETF delays for assets like Solana, are shaking investor sentiment. Additionally, Bitcoin's stagnation near the $108,000 mark is raising concerns about potential liquidations. Broader macroeconomic pressures from Federal Reserve policy are also contributing to the cautious atmosphere.
2. What is the Bitcoin price trend and predictions for today?
Bitcoin's price trend today is bearish, having slid 1.07% to $107,992.51. Analysts point to weak spot buying and fading momentum near the $108,000 resistance. If BTC falls below $106,000, over $1.3 billion in leveraged long positions could face forced liquidation. Thus, suggesting a potential for a deeper slide, although sentiment remains mixed.
3. What is the latest crypto news impacting market sentiment?
The latest crypto news includes Ripple CEO Brad Garlinghouse's testimony in the US Senate, advocating for the CLARITY Market Structure Act. The SEC delayed its decision on Fidelity's Solana ETF, collectively dampening market sentiment. Trump has delayed tariffs until August 1, and Goldman Sachs forecasts Fed rate cuts of 3%-3.25% by September 2025.
4. What is the CLARITY Act and how could it affect crypto regulation?
The CLARITY Act (Digital Asset Market Clarity Act) is proposed US legislation aiming to establish clear regulatory frameworks for digital assets. It seeks to transfer oversight of most cryptocurrencies to the CFTC, minimizing the SEC's influence. If passed, it could provide much-needed legal certainty, fostering innovation and consumer protection within the crypto industry.
5. How are altcoins like Ethereum, Solana, and DOGE performing amid current market conditions?
Altcoins are largely following the broader market downturn. Ethereum is trading at $2,542.31, down 1.11%, as the lack of clear ETF timelines puts pressure on it. Solana has declined 2.00% to $148.94 after the SEC delayed its decision on the ETF. Dogecoin (DOGE) leads the declines among the mentioned tokens. Thus, the price dropped 3.66% to $0.1678 as meme coin sentiment weakened.