Bitcoin and Ethereum have paused their recovery

The crypto market capitalisation has changed little over the past 24 hours, continuing to hover around $2.24T. The market remains near its recent high, consolidating despite a strengthening US dollar and cautious sentiment in equity markets. The sentiment index has fallen from 33, its highest level since May, to 31, remaining in ‘fear’ territory. Among the most popular coins, the top performers over the past day were Hedera (+6%), Uniswap (+4.4%) and Aptos (+3.6%). Filecoin (-4.9%), Stellar (-2.6%) and Bitcoin Cash (-2.4%) are falling more than the others.

Bitcoin retreated to $65.4K, losing ground for the second day in a row after touching the area of its local June highs. This pullback has reinforced the sense that bears remain in control of prices, preventing the technical rebound from developing into a broader recovery and establishing the 61.8% retracement level of the May–June decline as resistance.

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Euro focuses on the ECB

EURUSD is rising on expectations of ‘hawkish’ rhetoric from the ECB.

The rally in Brent crude and Treasury yields is not helping the US dollar.

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⚠️ EU — ECB Interest Rate Decision at 03:00 GMT

✔️ Prev: 2.40%

🕒 Exp: 2.40%

🎯 Fact.: 2.40%

⚠️ EU — ECB Press Conference at 12:45 GMT

▶️ Gold. Triangle

Today is Thursday, the 23rd of July, and we're going to talk to you about the gold market.

Today I'll show you the one hour chart, which is continuing its downward trend...

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🇺🇸 US Pre-Market: Mostly Negative 📉

Negative sentiment is prevailing in the US stock market pre-market, with the largest technology and consumer companies mostly trading lower, reflecting a noticeable flight from risk.

In the Information Technology sector, NVIDIA (NVDA) is down 1.40%, Broadcom (AVGO) is down 1.13%, while Microsoft (MSFT) is down 0.68%.

In the Communication Services sector, Alphabet (GOOGL) is down 5.24%.

In the Energy sector, Exxon Mobil (XOM) is up 1.86%, while Chevron (CVX) is up 1.62%.

Overall market sentiment remains broadly bearish: selling pressure is concentrated in the largest-cap growth stocks, boosting demand for safe-haven dollar assets and providing short-term support for the dollar through capital flows into Treasuries and money markets.

Bitcoin Wave Analysis – 23 July 2026

- Bitcoin reversed from resistance level 67070.00

- Likely to fall to support level 64000.00

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Gold Wave Analysis – 23 July 2026

- Gold reversed from resistance level 4210.00

- Likely to fall to support level 3965.00

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USDCHF Wave Analysis – 23 July 2026

- USDCHF broke key resistance level 0.81400

- Likely to rise to resistance level 0.8250

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Brent Crude Oil Wave Analysis – 23 July 2026

Brent Crude Oil: ⬆️ Buy

- Brent Crude Oil broke resistance zone

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⚠️ Japan — National Consumer Price Index at 03:00 GMT

✔️ Prev: 1.5%

🕒 Exp: 1.7%

🎯 Fact.: 1.7%

🗓 Economic Calendar at 2026/07/25 (GMT)

08:00 🇪🇺 Manufacturing PMI — Exp: 51.5 Actual: 52.0

08:00 🇪🇺 Services PMI — Exp: 49.8 Actual: 51.6

08:00 🇪🇺 PMI Composite — Exp: 50.3 Actual: 51.9

08:30 🇬🇧 Manufacturing PMI — Exp: 52.1 Actual: 52.8

08:30 🇬🇧 Services PMI — Exp: 49.6 Actual: 51.8

08:30 🇬🇧 PMI Composite — Exp: 49.7 Actual: 52.1

10:30 🇷🇺 ⚡️ Key bank rate — Exp: 14.25% Actual: 14.00%

13:45 🇺🇸 Manufacturing PMI — Exp: 54.4 Actual: 53.8

13:45 🇺🇸 Services PMI — Exp: 51.3 Actual: 53.6

13:45 🇺🇸 PMI Composite — Exp: 52.3 Actual: 53.6

14:00 🇺🇸 New Home Sales — Exp: 610K Actual: 628K | 1.6%


[Updated in real time]

Crypto shrugs off a stronger Dollar

Cryptocurrencies have been affected by jitters in traditional financial markets, losing 0.8% of their market capitalisation over the past 24 hours to $2.23T, dipping to a low of $2.21T at the start of active trading in Asia. The subsequent resumption of growth indicates that the upward trend remains intact and that market participants are keen to buy into local dips, regardless of the rising dollar. The loss of much of the correlation with the equity market has begun to work in cryptocurrencies’ favour after a prolonged period of underperformance. Among the top coins over the past day, the leaders in growth were Tezos (+2.6%), SushiSwap (+2.3%) and Near Protocol (+1.7%). Avalanche (-4%), Dogecoin (-3.3%) and Hedera (-3.2%) lost ground more than the others.

Bitcoin fell during the day from $65.8K to $64.6K, where it found support from buyers. This proved sufficient to push the price back up to $65.5K, forming the seventh consecutive local low higher than the previous one since the start of July. Higher lows have now formed for seven consecutive sessions, but higher highs have yet to develop with the same consistency. As a result, the market is best described as being in an uptrend rather than a well-defined ascending channel.

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Dollar: oil leaves the Fed with no choice

• The Brent crude rally is a bigger ‘bearish’ factor for EURUSD than the ECB.

• The Fed may spring a surprise as early as July.

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EURCHF Wave Analysis – 24 July 2026

- EURCHF broke resistance level 0.9270

- Likely to rise to resistance level 0.9350

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⚠️ Russia — Key bank rate at 03:00 GMT

✔️ Prev: 14.25%

🕒 Exp: 14.25%

🎯 Fact.: 14.00% 📉

EURO STOXX 50 Wave Analysis – 24 July 2026

EURO STOXX 50: ⬆️ Buy

- EURO STOXX 50 reversed from support zone

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Sushiswap Wave Analysis – 24 July 2026

- Sushiswap reversed from resistance level 0.175

- Likely to fall to support level 0.153

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GBPCAD Wave Analysis – 24 July 2026

- GBPCAD reversed from the support area

- Likely to rise to resistance level 1.8800

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🇺🇸 US Pre-Market: Mixed 📊

The pre-market session on the US stock market is showing a mixed picture, with a slight upward trend.

In the Information Technology sector, NVIDIA (NVDA) is down 0.27%, Intel (INTC) is up 2.84%, while Microsoft (MSFT) is up 1.13%.

In the Communication Services sector, Meta Platforms (META) is down 0.18%.

In the Industrials sector, Union Pacific (UNP) is up 0.94%, while Uber Technologies (UBER) is up 0.75%.

The prevailing gains among large-cap technology companies point to risk-on sentiment within the US market. Demand is concentrated in equities, while interest in safe-haven dollar assets and Treasuries remains moderate. In this scenario, the dollar typically does not receive a significant boost; its performance is driven more by Fed rate expectations and broader external news flow.