08 Jul

A timid sun will shine over Bitcoin, Avalanche and Cardano in the next 24 hours, signaling slightly bullish market conditions, while a strong sun will shine over Ether, Solana and Uniswap. 

Over a one-week time horizon drizzle will linger over both Bitcoin and Ether, translating into slightly bearish trading conditions and downward pressure on their prices.

The trading signals available at 08:50CET are the basis for the projections mentioned above. Please check whether ATTMO's signals have changed since then, before making an investment decision.

Cryptocurrencies extend losses as inflation fears weigh & sale of seized Bitcoins

Cryptocurrencies extended their losses, with Bitcoin down 12 percent over the past seven days. The pending start of the sale of 142,000 Bitcoin ($8 billion at today’s price) by the trustees of Mount Gox and of 39,800 Bitcoin ($2.2 billion) seized by the German government puts pressure on its price.

The release of strong job figures in the US on Friday also weighed on the crypto market as these reignited inflation fears. This in turn means the long-awaited rate cut may be delayed or carried out at a slower pace than hoped for by the market.

The price of Bitcoin dropped 3.5 percent to $55,606 over the past 24 hours, Trading View’s Bitcoin chart shows. It now trades at levels not reached since February, a five-month low.

“A countertrend rally is likely as Bitcoin appears oversold in the short term, and a potential macroeconomic tailwind is expected next week. Additionally, the SEC might approve the Ethereum ETF, which could trigger positive momentum in the short term,” 10xResearch writes in its daily market report.

The above factors in combination with US inflation data to be released on Thursday may trigger short-covering and a brief rally, the crypto research firm adds.

Listing of spot ETH ETF approaches

The approval of the listing registration of eight spot Ether exchange traded funds (ETFs) by the Securities and Exchange Commission (SEC) is viewed as a formality and expected later this month by most analysts.

“Will be shocked if spot eth ETFs not trading w/in next 2 weeks... Later next week a possibility, but think week of July 15th more likely,” Nate Geraci, the co-founder of the EF institute, said.

The price of Ether percent fell 4.4 percent to $2,916 over the past 24 hours. 

Trump trade concept emerges ahead of presidential election

The concept of a “Trump trade” has emerged among crypto traders, Financial Times report.

“The optimism comes down to two perceptions: that Trump is the more pro-crypto candidate and that his policies will make assets such as bitcoin more appealing to the wider world,” according to the newspaper.

Potential vote overturning President’s SAB veto tomorrow

The House may vote to overturn the veto of the US President on the SEC’s Staff Accounting Bulletin (SAB) 121 bulletin as early as tomorrow, the Block reports. This vote would require a two-thirds majority in both Houses of Congress.

SAB 121 would require financial institutions and firm offering crypto custody to record their clients’ crypto holdings as liabilities and hold them at fair value on their balance sheet. This has been heavily criticized by the crypto sphere.


ATTMO, a weather-inspired AI tool, makes cryptocurrency predictions. It also forecasts longer-term cryptocurrency trends. These forecasts are not trading advice; they are only decision support tools. They do not include information that is specific to the user; in particular they do not account for their personal risk appetite or market assessment. The forward-looking weather-inspired predictions part of this report may have changed by the time you read this edition of ATTMO Times. So always check the latest ATTMO predictions before making any investment decision.