Bitcoin, Ethereum, XRP and Solana came to the center of the market again as they simultaneously produced a TD Sequential buy signal on the monthly chart. This outlook has raised expectations that a long-term bottom may have formed in the crypto market; However, it is also emphasized that the indicator alone does not indicate a definite start of an increase.
Common signal on technical indicator
Crypto analyst Ali Martinez announced that all four major crypto assets gave TD Sequential buy signals on the monthly timeframe. This indicator, used on high time frames, is generally monitored to detect areas where the current trend is weakening and a change in direction may come to the fore.
Mini dictionary: TD Sequential is known as a technical indicator developed by market analyst Tom DeMark. The indicator tries to determine the points where the trend tires and possible reversal zones occur through certain counting sequences.
The monthly chart points to a simultaneous macro reversal setup. The TD Sequential indicator gives a buy signal for Bitcoin, Ethereum, XRP and Solana.
It is not uncommon to see a monthly buy signal in four major cryptocurrencies at the same time. Therefore, the improvement in the technical outlook has created cautious optimism in the market after the sharp fluctuation in recent weeks.
Latest situation in prices and futures transactions
According to CoinMarketCap data, Bitcoin was traded at $59,947.31, Ethereum was traded at $1,615.92, XRP was traded at $1.05 and Solana was traded at $77.45. It was noted that the outlook for assets with large market value also showed a more positive picture.
| Presence | Price | Futures open position |
|---|---|---|
| Bitcoin | $59,947.31 | $8.50 billion |
| Ethereum | $1,615.92 | $21.99 billion |
| XRP | $1.05 | $2.31 billion |
| solana | $77.45 | $5.58 billion |
CoinGlass data showed that the open position size in Bitcoin futures on Binance was at $8.50 billion. On the Ethereum side, open position reached $21.99 billion. This figure was measured as $2.31 billion for XRP and $5.58 billion for Solana. These data indicate that interest in the derivatives market has not completely disappeared.
ETF flows remain cautious
US spot Bitcoin ETFs recorded a net outflow of $222.60 million on July 1. However, total net inflow since the products were launched stands at $51.59 billion. This chart shows that the broader trend has not completely broken down, with some investors taking profits in the short term.
Spot Ethereum ETFs saw a net outflow of 16,715.33 ETH on June 30. Although it is understood that the cautious stance continues on the corporate side, longer-term demand is considered to remain positive.
Monthly buying signals indicate that selling pressure may be weakening, but additional confirmation is needed for a sustained recovery.
The possibility of a recovery in the broader crypto market could gain ground if Bitcoin, Ethereum, XRP, and Solana remain above current price levels, ETF flows strengthen, open interest increases, and buying volumes increase in the coming weeks.
