BTC risks dropping to $100k as it slips below key support levels

Key takeaways

  • Bitcoin is down 1.5% in the last 24 hours and now trades below $106k.
  • The leading cryptocurrency by market cap risks dropping to $100k after failing to hold key support levels. 

The cryptocurrency market is having a poor start to the week, with Bitcoin relinquishing some of the gains it recorded last week. The world’s leading cryptocurrency by market cap has lost 1.5% of its value in the last 24 hours and now trades below $106k.

At press time, the price of Bitcoin stands at $105,503 and could drop further if the bearish trend continues. BTC dropped to the $105,250 region on Tuesday, failing to hold a key support level at $105,800.

With the bears currently in control, Bitcoin’s price could slip further in the coming hours or days. 

Bitcoin price forecast: $100K in sight for BTC amid selling pressure

The BTC/USD 4-hour chart is currently bearish but inefficient, indicating that sellers could likely sweep liquidity to the upside before Bitcoin’s price dips lower. The technical indicators on the 4H chart are bearish, suggesting selling pressure on the cryptocurrency.

The MACD lines have crossed into the negative zone, indicating that there are more sellers than buyers. Furthermore, the RSI of 46 shows that BTC has a weak buying pressure at the moment.

If the price slips and sustains below the moving averages, the BTC/USD pair could drop to the next major support level at $104,500. Failure to maintain this support level could see BTC test $100k for the first time since June 23rd. 

BTC/USD 4H Chart

However, the bearish setup will be invalidated if BTC rebounds and crosses the EPA (Efficient Price Action) level at $106,719 and rallies higher. Any 

Any move above the Inducement Liquidity (ILQ) at $107,866 could see Bitcoin rally towards $109k once again.

The post BTC risks dropping to $100k as it slips below key support levels appeared first on CoinJournal.

SEC approves Grayscale’s conversion of BTC, ETH, SOL, XRP fund into an ETF

  • The U.S. Securities and Exchange Commission has approved Grayscale’s Digital Large Cap Fund conversion into a spot ETF.
  • The fund holds Bitcoin, Ethereum, XRP, Solana, and Cardano.
  • Experts expect approvals of multiple crypto spot ETFs.

The U.S. Securities and Exchange Commission (SEC) has approved the conversion of Grayscale’s Digital Large Cap Fund (GDLC) into a spot exchange-traded fund (ETF).

GDLC is a fund that holds mega cap cryptocurrencies Bitcoin (BTC), Ethereum (ETH), XRP (XRP), Solana (SOL) and Cardano (ADA).

SEC’s approval, announced in a filing on Tuesday, marks a significant milestone for cryptocurrency investment products, particularly as investors eye further spot ETF nods from the regulator.

SEC approved Grayscale’s large-cap fund to convert into a spot ETF

This decision, announced on July 1, 2025, speaks to the SEC’s growing acceptance of regulated cryptocurrency investment products and investor’s quest for exposure.

Greenlight for Grayscale’s digital large-cap fund adds to the available spot ETFs in the US, notably spot Bitcoin and Ethereum ETFs that the regulator approved in 2024.

With this development, Grayscale’s fund will now trade on the NYSE Arca. The final deadline for SEC to either approve or reject the application was July 2, 2025.

“Approval was our expectation. The fund is over 90% Bitcoin and Ethereum. The next big date is Bitwise’s BITW deadline of July 31,” Bloomberg ETF analyst James Seyffart said. “But SEC could obviously go early.”

The newly approved ETF will include a basket of major cryptocurrencies, comprising Bitcoin (79.4%), Ethereum (11.6%), XRP (4.8%), Solana (2.9%), and Cardano (0.8%), mirroring the fund’s current holdings.

Bitcoin makes up largest share of the Grayscale Digital Large Cap Fund. Source: Bloomberg

Grayscale initially filed for this conversion on April 1, 2025, proposing a spot ETF structure to provide investors with direct exposure to these assets.

Following regulatory feedback, the company submitted an amended filing on June 30, 2025, with the SEC setting a final decision deadline of July 2, 2025. The approval order, released today, confirms the fund’s eligibility to list and trade shares, a process finalized ahead of schedule, highlighting the SEC’s streamlined approach to this application.

Experts say SEC will soon approve multiple crypto spot ETFs

Industry analysts anticipate that the SEC’s approval of Grayscale’s ETF signals the imminent approval of additional crypto spot ETFs.

Recently, Bloomberg ETF analyst Eric Balchunas highlighted the SEC’s imminent approvals. He pointed to the no further comments scenario around REX and Osprey Funds’ filings for a staked Solana (SOL) ETF as notable. That spot ETF, expected to launch on July 3, offers yield-generating staking features and is the first staked crypto ETF in the U.S.

SEC has recently delayed decisions on multiple spot crypto ETFs, including for XRP and SOL.

The post SEC approves Grayscale’s conversion of BTC, ETH, SOL, XRP fund into an ETF appeared first on CoinJournal.

Bitcoin to hit $200K by year end: Bitwise reaffirms bullish call

  • Bitwise has reiterated its bullish call for Bitcoin to reach $200,000 by year-end.
  • Bitwise said several of its December 2024 predictions for 2025 remain on track.
  • The firm is less certain about the outlook for Ethereum and Solana, both of which have underperformed this year.

At the midway point of 2025, digital asset manager Bitwise has reiterated its bullish call for Bitcoin to reach $200,000 by year-end, citing surging institutional interest and a supportive regulatory backdrop.

However, the firm is less certain about the outlook for Ethereum and Solana, both of which have underperformed this year.

In a note to clients published Tuesday, Bitwise Chief Investment Officer Matt Hougan and Head of Research Ryan Rasmussen reviewed the firm’s 2025 forecasts, offering a mixed assessment of crypto market dynamics so far this year.

Bitcoin holds strong, ETH and SOL lag

“It’s been a mixed year for crypto asset prices,” Hougan and Rasmussen wrote.

“Bitcoin hit a new all-time high of $112,000 in May thanks to strong ETF flows, growing demand from bitcoin treasury companies, and the creation of a US strategic bitcoin reserve.”

Bitcoin’s gains stand in contrast to the performance of Ethereum and Solana, which are both down year-to-date.

The firm attributes this divergence to broader macroeconomic risks and uneven investor appetite.

Still, Bitwise remains optimistic about the second half of the year.

“We’re holding firm to our BTC $200k prediction, as there is simply too much institutional demand for BTC to keep prices flat for long,” Hougan said.

He added that while the firm is “less confident on ETH and SOL,” developments such as ETF approvals, rising interest in stablecoins, and the emergence of ETH and SOL treasury companies could provide upside.

Bitwise’s crypto predictions for 2025

Bitwise said several of its December 2024 predictions for 2025 remain on track.

The firm’s forecast that Bitcoin ETF inflows would surpass last year’s $35 billion is still in play, especially with expanded access to these products via major wealth platforms.

Bitwise also noted that two of its regulatory forecasts have materialized: the US Department of Labor rescinded crypto restrictions on 401(k) plans, and both Coinbase and Strategy (formerly MicroStrategy) secured positions in the S&P 500 and Nasdaq-100, respectively.

These moves have brought crypto exposure to a wider investor base through passive index-tracking funds.

Meanwhile, Bitwise said its prediction that at least five crypto unicorns would go public in the US in 2025 is now almost guaranteed, with firms like Circle, Webull, and eToro leading the charge in what has become a faster-than-expected IPO boom.

Not all bets are panning out. Bitwise acknowledged that the anticipated meme coin surge — led by AI-generated tokens — has not materialised.

The memecoin mania died down in Q1, Hougan said, pointing to the rapid collapse of politically themed tokens like TRUMP and MELANIA, as well as LIBRA, a coin linked to Argentina’s President Javier Milei.

Additionally, Bitwise’s forecast that Coinbase would surpass Charles Schwab in market capitalization and reach a share price of $700 is now seen as increasingly unlikely within the 2025 timeframe.

Its prediction that the number of countries holding Bitcoin in reserves would double — from nine to 18 — also appears ambitious, though the firm noted that recent disclosures by the United Arab Emirates and Pakistan have moved the needle.

The post Bitcoin to hit $200K by year end: Bitwise reaffirms bullish call appeared first on CoinJournal.

AI crypto Block3 launches presale at $0.01, prices to jump soon

  • Block3 is a project aiming to disrupt the economics and timelines of game development.
  • The project’s presale has started. Tokens are currently available at $0.01.
  • The presale is scheduled to run for 90 days.

The gaming industry is under pressure.

Traditional game studios are grappling with a mix of shrinking budgets, project delays, and workforce reductions.

At the same time, new players are stepping in with alternative approaches that challenge established development models.

One such entrant is Block3, a project aiming to upend the economics and timelines of game creation.

While conventional studios often spend years and tens of millions of dollars to develop a single title, Block3 is building tools to compress that process significantly, both in cost and duration.

At the core of Block3’s offering is Trinity, an AI-powered engine designed specifically for game development.

Unlike most generative AI models that produce static content such as images or text, Trinity is described as a Large World Model (LWM)—a system capable of generating entire playable games.

Trinity is trained not just on code or visual assets, but on player behaviour patterns, game mechanics, and narrative design frameworks.

Users can submit a basic prompt, and Trinity produces a full game environment in response, complete with non-player characters, story arcs, and interactive systems.

The engine continuously improves through reinforcement learning and community feedback, allowing it to adapt and evolve over time.

By focusing on real-time creation and iteration, Block3 hopes to bring down the barriers to entry for developers and studios alike, offering a fundamentally different model for how games are conceived and built.

AI gaming: the next big opportunity?

Agent tokens demonstrated AI’s potential in crypto, but ultimately fell short of driving widespread adoption due to a lack of practical application.

Block3 presents a more substantial breakthrough—where artificial intelligence intersects meaningfully with gaming at scale.

Backed by significant momentum in both industries, it marks a more grounded and utility-driven evolution of AI in Web3.

Over $51 billion has been invested in the gaming sector in recent years, while AI spending is projected to exceed $244 billion in 2025.

Block3 sits at the convergence of these two investment-heavy domains, aiming to deliver real utility by embedding AI into core game development infrastructure.

The token presale starts today

At the center of this ecosystem is BL3, the native token that powers Block3’s platform.

Integrated at the protocol level, BL3 is used to mint assets, generate AI-driven game environments, and facilitate in-game economies.

Its utility is tied directly to the scale and activity of the platform, rather than to the success of a single project.

Block3’s approach positions BL3 as a token with embedded relevance, not just a speculative asset, but a core component of how the system functions. ‘

With infrastructure already operational and early access available at presale levels, the project appeals to crypto investors looking for exposure to real-world use cases.

Rather than being limited by a traditional development pipeline or confined to a single product, BL3’s potential grows with the broader expansion of AI gaming—a space Block3 is actively building.

The BL3 token presale will unfold across 30 stages, featuring a cumulative price increase of 312% from the first to the final stage.

Each stage will see a 5% price increment, creating a tiered structure that benefits early participants.

Buyers in Stage 1 could see gains exceeding 300% by the time the token lists publicly.

This pricing model is designed to incentivize early adoption and align with longer-term holders, offering increasing value to those who commit early in the 90-day presale window.

The post AI crypto Block3 launches presale at $0.01, prices to jump soon appeared first on CoinJournal.

Bitcoin Pepe presale heats up as Anemoi pours 40% of cash into BTC

  • Anemoi boosts Bitcoin exposure to 40%, signalling a bold shift in treasury strategy.
  • Company eyes up to 75% crypto allocation amid rising concerns over US deficit.
  • Bitcoin Pepe presale draws $16.2M as July 31 listing and 30% buyer bonus fuel excitement.

UK-based Anemoi International has stepped up its commitment to Bitcoin, now holding close to 40% of its cash reserves in the cryptocurrency, up from 30%, according to a press release issued on Tuesday.

The company made the latest investment through an exchange-traded fund identified by the ticker BTGD.

This particular fund offers dual exposure to both Bitcoin and gold by using leverage, effectively doubling the impact of each dollar invested, allocating one dollar’s worth to Bitcoin and another to gold for every dollar put in.

The fresh investments in Bitcoin came as the cryptocurrency is holding the $107,030.61 level well, and traders are closely looking at the $108,500 level resistance, after which the possibility of a new all-time high will increase. 

Anemoi’s announcement about increased investment has pushed up the buzz around the Bitcoin Pepe presale, which is drawing strong investor attention. 

Bitcoin Pepe is set to go live on MEXC, a major global crypto exchange, with the listing scheduled in the near future, marking a significant step forward for the project..

This comes on the heels of its earlier listing announcement from BitMart on June 17.

According to the development team, these exchange listings are expected to enhance market reach and improve liquidity for the BPEP token.

Anemoi International’s strategic play with BTC

In the statement, Anemoi pointed to growing worries over the US federal deficit, currently around 123% of GDP, as one of the reasons behind its latest Bitcoin investment move.

The company’s board also signalled that more updates on its business direction and treasury approach are likely to follow soon, though it did not offer any concrete timeline or further specifics.

While no exact details or timing have been provided, the statement suggests that Anemoi may be considering further actions or changes, potentially including additional adjustments to its cryptocurrency holdings as part of its evolving financial strategy.

Anemoi has revealed plans to potentially allocate as much as 75% of its cash reserves to cryptocurrencies and related financial instruments, such as Bitcoin and gold-backed ETFs.

This move represents a major change in its treasury approach and places the company among the most crypto-focused businesses listed on the London Stock Exchange.

The cryptocurrency pivot came in the backdrop of a dramatic show by Anemoi’s stock, as it displayed a staggering gain of more than 500% in the last six months.

Bitcoin Pepe’s final listing announcements on July 31

Bitcoin Pepe is currently in its presale phase, with the token price at $0.0437 as of the latest update. 

The presale has raised over $16 million, and recent announcements about upcoming exchange listings have driven a surge in purchases. 

Bitcoin Pepe is setting out to build a dedicated meme coin ecosystem on the Bitcoin network, introducing its token standard called PEP-20.

This new framework is designed to support fast and low-cost trading of meme coins, addressing one of the key limitations often associated with Bitcoin-based assets.

By combining the viral appeal of meme coins with the robustness and security of the Bitcoin blockchain, the project aims to carve out a unique niche in the crypto space.

Positioned as a bridge between the meme coin community and Bitcoin’s trusted infrastructure, Bitcoin Pepe is gaining traction, particularly as interest in meme assets resurges alongside growing enthusiasm for Bitcoin from both retail and institutional investors.

Bitcoin Pepe is set to make its final listing announcement on July 31.

The team has also confirmed that all existing buyers will receive a 30% bonus as part of the rollout.

 

The post Bitcoin Pepe presale heats up as Anemoi pours 40% of cash into BTC appeared first on CoinJournal.