The cryptocurrency market digest (BTC, SOL). Overview for 12.07.2023

The BTC quotes on Wednesday rose to 30,575 USD.

The flagship cryptocurrency has not yet used either seasonal cycles that favour a price increase or support from the US stock market. Investors seemingly save power for future purchases. However, the longer this pause drags on, the more chances there are for a price slump.

The resistance levels remain the same: 30,800 USD and 31,150 USD. The support level is still at 29,800 USD.

Today the market will keep an eye on the US inflation statistics for June. The decision of the US Federal Reserve on the interest rate at the meeting in July depends on these data.

The cryptocurrency market capitalisation has risen to 1.190 trillion USD. The BTC share has increased to 50.0%, while the ETH share remains at 19.0%.

New York State Attorney is searching out the FTX co-founder

New York State Attorney is looking into the whereabouts of the FTX cryptocurrency exchange co-founder. The reason is possible violations of the election campaign financing legislation in the US.

SOL might reverse upwards

The technical picture of the SOL token demonstrates a breakout of the short-term and the long-term resistance levels. The coin dropped to the low on 10 June this year. After that, the price entered an ascending channel, where it has stayed since. Market participants think that a bullish trend is forming there.