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Bitcoin and several altcoins are taking a breather after the sharp rally of the past two days, but the general trend remains bullish. Ripple Labs’ victory in the case against the United States Securities and Exchange Commission gives a significant boost to the crypto industry. In addition to benefitting Ripple and XRP (XRP), analysts believe that the ruling will weaken the regulator’s case against Binance and Coinbase. In another positive event for the crypto space, the U.S. dollar index (DXY) completed a bearish head and shoulders pattern on July 12 and followed that up with a drop below the psychological level of 100 on July 13. The DXY typically moves in inverse correlation with Bitcoin (BTC), hence its weakness is a positive sign for the crypto bulls. Daily cryptocurrency market performance. Source: Coin360 LookIntoBitcoin creator Philip Swift said that increased on-chain spending volume shows that Bitcoin is in the first stage of a bull market. The sharp rally in XRP and several ...

Bitcoin has reclaimed the $26,000 level, but will large cap altcoins follow BTC's rebound? Bitcoin (BTC) is witnessing a tough battle between buyers and sellers near the $25,000 mark. A minor cause of worry for the bulls is that even the news of BlackRock having filed an application for a Bitcoin spot exchange-traded fund could not boost prices higher. This suggests that investors remain cautious due to the regulatory overhang. However, this does not mean that professional investors have abandoned plans to invest in cryptocurrencies. The Laser Digital Investor Survey of institutional investors conducted in April shows that 90% of the respondents were ready to consider putting money into crypto if the asset was backed by a “large traditional financial institution.” Another positive was that 82% of the investors polled were positive on crypto’s prospects over the next 12 months. Daily cryptocurrency market performance. Source: Coin360 Glassnode co-founders Yann Allemann and Jan Happ...