Crypto Price Analysis 7-4: BITCOIN: BTC, ETHEREUM: ETH, SOLANA: SOL, ARBITRUM: ARB, INJECTIVE: INJ, CELESTIA: TIA

The crypto market registered a marginal increase over the past 24 hours as Bitcoin (BTC) and other altcoins paused their rally. BTC raced to a high of $110,498 late on Thursday but lost momentum after encountering selling pressure. As a result, it fell below $110,000 and moved to its current level of $109,145. Despite the decline, the flagship cryptocurrency remains marginally up over the past 24 hours. 

Ethereum (ETH) briefly rose above $2,600 on Thursday, reaching an intraday high of $2,632. However, it quickly lost momentum, falling to a low of $2,570 before moving to its current level of $2,574. Ripple (XRP) is down 0.51%, trading around $2.24, while Solana (SOL) is down 1.13%, trading around $152. Dogecoin (DOGE) and Cardano (ADA) have bucked the bearish trend so far, and are marginally up. Chainlink (LINK) and Hedera (HBAR) have registered marginal increases, while Stellar (XLM), Toncoin (TON), Litecoin (LTC), and Polkadot (DOT) have registered notable declines. 

Trump's Big Beautiful Bill A Disappointment For Crypto 

President Trump’s “Big Beautiful Bill” failed to address issues faced by the crypto industry. However, increased market liquidity thanks to the bill could act as a boost for the industry. The US House passed the landmark budget bill on Thursday, June 3. The bill expands tax cuts and reduces benefits, and passed the House with a narrow 218-214 vote, with two Republicans dissenting. The Republicans who voted against the bill were fiscally conservative Thomas Massie of Kentucky and anti-Trump Republican Brian Fitzpatrick. 

The bill brings sweeping changes to taxes, immigration enforcement, and Medicaid. However, it did not have any provisions for crypto despite efforts by pro-crypto Senator Cynthia Lummis, who proposed adding several pro-crypto amendments. The amendments included changes to taxes on mining and staking income, a longstanding concern for the industry. However, the amendments were not added to the bill. Crucially, Senator Lummis introduced a new bill on crypto taxation after the budget bill passed. 

Cynthia Lummis Introduces Crypto Tax Bill 

U.S. Senator Cynthia Lummis introduced crypto tax legislation that aims to enact a comprehensive digital asset tax framework in the United States. Lummis, leader of the Senate Banking Committee’s digital asset subcommittee, unveiled the proposal on July 3 after it failed to be added as an amendment in the “One Big Beautiful Bill” Act. The crypto tax legislation aims to amend the Internal Revenue Code of 1986, changing how the US tax code treats digital assets. The bill also proposes expanding securities lending rules to include digital assets. Lummis stated, 

“In order to maintain our competitive edge, we must change our tax code to embrace our digital economy, not burden digital asset users. This groundbreaking legislation is fully paid-for, cuts through the bureaucratic red tape, and establishes common-sense rules that reflect how digital technologies function in the real world.”

US Markets Gain On Strong Jobs Data 

Wall Street remains optimistic despite the possibility of a Federal Reserve rate cut coming later than expected, thanks to strong US jobs data. The Dow Jones gained 344 points (0.77%) on Thursday while the S&P 500 rose 0.83% ahead of Friday’s close. Meanwhile, the Nasdaq Composite gained over 1%. The gains helped the Nasdaq Composite and the S&P 500 reach record levels as investor optimism returned. 

Markets focused on the jobs report, which showed the labor market was more resilient than expected. Jobs data revealed a 147,000 increase in non-farm payrolls, significantly higher than the 106,000 forecast. Additionally, the unemployment rate fell to 4.1%, contrary to the expected rise to 4.3%. A resilient labor market indicates that the anticipated tariff-related economic upheaval has not materialized. 

Firefox Users Hit With Malware Targeting Crypto Users 

Over 40 fake extensions for the popular web browser Mozilla Firefox have been linked to a well-orchestrated malware campaign targeting crypto users with wallet clones. According to a report by cybersecurity firm Koi Security, the phishing operation deploys malicious extensions masquerading as wallet tools from Coinbase, MetaMask, Trust Wallet, Phantom, Exodus, OKX, MyMonero, Bitget, and others. Once installed, the malicious extensions steal the user’s wallet credentials. 

“So far, we were able to link over 40 different extensions to this campaign, which is still ongoing and very much alive.”

According to Koi Security, the campaign has been active since April, with the most recent extensions uploaded last week. The extensions extract wallet credentials from targeted websites before uploading them to a remote server controlled by the hackers. 

Peter Thiel Backs Plan For New Financial Services Firm 

A group of billionaires, including Peter Thiel, is planning to launch a new financial services firm to fill the void caused by the collapse of Silicon Valley Bank, which collapsed in 2023. The new bank will focus on startups and crypto companies, according to reports citing anonymous sources familiar with the developments. The firm has already applied for a US Bank Charter. Thiel’s Founders Fund is one of the early investors in the bank. Besides Thiel, the new bank has backing from Palmer Luckey, co-founder of Anduril, and Joe Lonsdale, the founder of 8VC. The new bank also aims to establish itself as a major lender for early-stage startups and firms that struggle to access capital due to tight banking regulations. 

Bitcoin (BTC) Price Analysis 

Bitcoin’s (BTC) latest rally came to an abrupt halt after it reached an intraday high of $110,590 on Wednesday. The flagship cryptocurrency posted an impressive rally on Wednesday, rebounding from Tuesday’s low of $105,328. BTC rose nearly 3% on Wednesday to cross $108,000 and settle at $108,845, and extended its gains on Thursday to cross $109,000 and settle at $109,650 after briefly crossing the $110,000 mark. However, it failed to sustain its rally and is down nearly 1% during the ongoing session. 

The decline dashes market expectations of a new all-time high, with low spot demand indicating limited upside. Despite the impressive rally over the past two days, BTC’s ability to push to a new all-time high has been limited by a lack of buyers. The cryptocurrency’s spot volume delta metric, an indicator used to measure the net difference between buying and selling trading volumes, revealed that spot buying on exchanges remained negative even as BTC attempted a breakout. 

Analysts believe this suggests a lack of momentum and could potentially lead to a pullback or consolidation if derivative-driven pumps push prices higher without spot market support. Market data resource Swissblock Technologies stated in a post on X,

 “BTC is breaking out, but where’s the spot demand? Without real demand, breakouts run on fumes. We need buyers to sustain the price breakout.”

However, K33 Research highlighted that spot volumes tend to be lower from June to October compared with the rest of the year. July has historically been one of the quietest months for BTC and crypto, accounting for just 6.1% of the annual volume. According to K33 Research analysts, this could be stopping attempts to push to a new all-time high. 

“Although July 2025 brings potential catalysts, including Trump’s budget bill, tariff decisions, and a crypto executive order deadline, seasonal patterns suggest markets may continue drifting in low-volume and low-volatility doldrums despite the busy news backdrop.”

BTC ended the previous weekend in the red, dropping below $100,000 to a low of $98,385 on Sunday (June 22). The price rebounded to reclaim $100,000 and end the weekend at $100,985. BTC rallied on Monday, rising over 4% to reclaim $105,000 and settle at $105,443. Buyers retained control on Tuesday as the price rose 0.66% to cross the 20 and 50-day SMAs and $106,000, settling at 106,137. BTC reclaimed $107,000 on Wednesday, rising 1.19% and settling at $107,397. Despite the positive sentiment, the price fell 0.39% on Thursday, slipping below $107,000 and settling at $106,980. It recovered over the weekend, registering marginal increases on Friday and Saturday to reclaim $107,000 and settle at $107,339.

Source: TradingView

Bullish sentiment intensified on Sunday as BTC rose nearly 1% to cross $108,000 and settle at $108,350. The price was back in the red on Monday, dropping 1.09% and settling at $107,167. Bearish sentiment intensified on Tuesday as the price fell 1.33%, slipping below $106,000 and settling at $105,742. Despite the selling pressure, BTC recovered on Wednesday, rising nearly 3% to reclaim $108,000 and settle at $108,845. Buyers retained control as the price rose to an intraday high of $110,590 on Thursday before settling at $109,650 after an increase of almost 1%. The current session sees BTC down nearly 1%, trading around $108,851.

Ethereum (ETH) Price Analysis

Ethereum (ETH) posted a strong rally on Wednesday as bulls pushed the price beyond key moving averages. The bulls pushed the price to an intraday high of $2,619 before ETH registered a marginal decline and settled at $2,572. It continued pushing higher on Thursday, reaching $2,637. However, it failed to stay above $2,600 yet again, closing at $2,592 before selling pressure returned during the ongoing session. ETH faces resistance around $2,625-$2,630, with the first major resistance sitting at $2,650. A clear break above this level could send ETH past $2,700.

However, failure to clear these levels could trigger a fresh decline, potentially pushing the price below $2,500.

ETH plunged to an intraday low of $2,119 on Sunday (June 22) before rebounding to reclaim $2,200 and settling at $2,229. The price recovered on Monday, rallying over 8% to cross $2,400 and settle at $2,413. Buyers retained control on Tuesday as ETH rose 1.51% and settled at $2,450. It lost momentum on Wednesday, dropping 1.26% and settling at 2,419. Buyers attempted a recovery on Thursday as the price rallied to an intraday high of $2,531. However, it failed to sustain momentum and fell to $2,415, ultimately registering a marginal decline. ETH recovered on Friday, rising 0.34% and settling at $2,423.

Source: TradingView

ETH remained in positive territory over the weekend, registering a marginal increase on Saturday and rising nearly 3% on Sunday to settle at $2,500. However, it lost momentum on Monday, dropping almost 1% to $2,486. Selling pressure intensified on Tuesday as the price fell over 3%, slipping below the 20-day SMA and settling at $2,407. ETH recovered on Wednesday as market sentiment flipped to bullish. As a result, the price rallied nearly 7%, crossing the moving averages, reclaiming $2,500, and settling at $2,572. Buyers retained control on Thursday as ETH reached an intraday high of $2,637. However, it could not sustain momentum and settled at $2,592, ultimately rising 0.79%. The current session sees ETH down nearly 2% after it failed to cross key resistance levels. If sellers retain control, the price could drop below $2,500.

Solana (SOL) Price Analysis

Solana (SOL) failed to capitalize on its recent rally and push above $160 thanks to sustained selling pressure at upper levels and a substantial lack of buyers. SOL’s latest rally saw the altcoin rebound from a low of $126 to reclaim $150 and move to current levels. The rally came despite a decline in on-chain activity in June, with DEX volume dropping 35% and Real Economic Value falling 48%. Solana’s app revenue also reported a substantial drop in June, falling $150 million, a 38% decline compared to the previous month. However, Solana-based apps still accounted for 35% of all app revenue across blockchains. Similarly, Solana-based DEXs registered $90 billion in revenue in June, with memecoins accounting for 61% of the total volume.

Declining on-chain activity comes despite growing SOL acquisitions by publicly traded companies. The latest was by the DeFi Development Corporation, which purchased 17,760 SOL after raising $112 million from a private placement.

SOL registered a substantial decline on Sunday (June 22), falling to an intraday low of $126 before settling at $131 after a drop of nearly 3%. SOL recovered on Monday, surging almost 10% to reclaim $140 and settle at $144. The price continued pushing higher on Tuesday, rising 0.91% to $145. SOL lost momentum after reaching this level and fell 1.62% to $143. Selling pressure intensified on Thursday as the price fell over 3%, slipping below $140 and settling at $139. SOL recovered on Friday, rising over 2% to reclaim $140 and settle at $142.

Source: TradingView

Bullish sentiment intensified on Saturday as the price surged over 6%, crossing the 20-day SMA and settling at $150. Buyers retained control on Sunday as SOL rose nearly 2% to end the weekend at $153. SOL faced selling pressure and volatility on Monday as sellers attempted to overwhelm buyers. However, buyers gained the upper hand and the price rose 1.02% to $154. SOL crashed over 5% on Tuesday, falling more than 5% to slip below $150 and settle at $147. Bullish sentiment returned on Wednesday as SOL rose nearly 4% to reclaim $150 and settle at $152. SOL encountered volatility on Thursday as buyers and sellers struggled to establish control. Sellers ultimately gained the upper hand as the price registered a marginal increase. The current session sees SOL back in the red, down over 1% as sellers look to drive the price below $150.

Arbitrum (ARB) Price Analysis

Arbitrum (ARB) plunged to an intraday low of $0.252 on Sunday (June 20) before settling at $0.268 as it ended the previous weekend in the red. It made a strong recovery on Monday, rising nearly 13% to $0.301. Buyers retained control on Tuesday as the price reached an intraday high of $0.335 before settling at $0.315, ultimately rising 4.50%. ARB lost momentum on Wednesday, falling over 2% to $0.309. Sellers retained control on Thursday as the price fell 1.68% to $0.303. Despite the selling pressure, ARB registered a marginal increase on Friday and moved to $0.305.

Source: TradingView

The price continued pushing higher on Saturday, rising 1.73% to $0.311. Bullish sentiment intensified on Sunday as ARB surged nearly 18%, crossing the 20 and 50-day SMAs and settling at $0.357. Despite the positive weekend, ARB lost momentum on Monday, dropping almost 6%, slipping below the 50-day SMA to $0.345. The price continued declining on Tuesday, falling over 5% to $0.327. ARB recovered on Wednesday, rising over 6% to $0.348, but was back in the red on Thursday, dropping 1.18% and settling at $0.$343. The current session sees ARB down 3.23%, trading around $0.332.

Injective (INJ) Price Analysis

Injective (INJ) ended the previous weekend in bearish territory, dropping to a low of $8.98 before settling at $9.72. The price recovered on Monday, surging 12% to reclaim $10 and settling at $10.89. Price action remained positive on Tuesday, rising over 6% to cross $11 and settling at $11.58. Despite robust buying pressure, INJ lost momentum on Wednesday, dropping over 4% to $11.07. Selling pressure persisted on Thursday as the price fell nearly 4% after reaching an intraday high of $11.58 and settled at $10.64. Sellers retained control on Friday as INJ fell 1.01% to $10.53.

Source: TradingView

INJ recovered over the weekend, rising 4.32% on Saturday and 4.13% on Sunday, crossing the 20-day SMA and settling at $11.44. Despite the positive weekend, INJ was back in the red on Monday, dropping nearly 6%, slipping below the 20-day SMA and $10 to settle at $10.76. Sellers retained control on Tuesday as the price fell by over 5% to $10.18. INJ rebounded on Wednesday, rising over 11%, crossing the 20-day SMA and settling at $11.52. It reached an intraday high of $12.07 on Thursday before settling at $11.52, ultimately registering an increase of 1.67%. The current session sees INJ down over 3%, trading around $11.13.

Celestia (TIA) Price Analysis

Celestia (TIA) started the previous week on a bullish note, rising nearly 13% on Monday to $1.58. Price action remained positive on Tuesday, rising almost 6% to $1.67. TIA lost momentum on Wednesday as sellers overwhelmed buyers. As a result, it fell 5.81% and settled at $1.57. Selling pressure intensified on Thursday as the price fell 9% to $1.43. TIA registered a marginal decline on Friday before recovering on Saturday, rising over 3% and moving to $1.48. Buyers retained control on Sunday as the price rose 3.94% and settled at $1.53.

Source: TradingView

TIA started the current week on a bearish note, dropping 9.50% to $1.39. The price continued dropping on Tuesday, falling nearly 3% and settling at $1.35. Buyers returned to the market on Wednesday as TIA rallied, rising almost 17% to reclaim $1.50 and settle at $1.57. The price increased by over 4% on Thursday, crossing the 20-day SMA and settling at $1.64. However, TIA is back in the red during the ongoing session, with the price down 4.50%, trading around $1.57.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.