BTC price dropped below $30,000 again on July 18, but the recent crab market price action is also backed by compelling investor activity on-chain. 5497 Total views 51 Total shares Listen to article 0:00 Market Analysis Join us on social networksBitcoin (BTC) price dropped below the $30,000 level on July 18, which retail investors may not have expected given the developments of the last month, but does the downside move represent an upcoming shift in the trend?
Data suggests that over the longer term, it does not.
To get to the positives first, Bitcoin price is still attempting to flip the $30,000 level to support after about 10 attempts since April of this year, but price is continuously finding buyers in the $28,000 to $25,000 range, which buyers seem to be viewing as an accumulation zone.
On-chain data from Glassnodes Bitcoin Accumulation Trend Score supports this sentiment and could be a positive, depending on how investors look at things given that the behavior of investors at $30,000 BTC price mirrors the same accumulation behavior seen in the $28,000 to $24,000 zone and the near the supposed $16,800 bottom. Bitcoin Accumulation Trend Score. Source: Glassnode
According to Glassnode, an Accumulation Trend Score of closer to 1 indicates that on aggregate, larger entities (or a big part of the network) are accumulating, and a value closer to 0 indicates they are distributing or not accumulating.
Basically, buyers strongly accumulated from November to December and they were heavy accumulators from March to April when BTC recaptured $30,000. The metric suggests they are doing the same in July as BTC attempts to either conquer the $30,000 resistance or received a boost from all the ETF and XRP SEC news.Bitcoin is in a crab market
The current price action and derivatives market data suggest that Bitcoin is in a crab market, where price remains range bound and consolidates for a prolonged period of time. As JLabs analyst JJ the Janitor pointed out last week, a strong push through the $32,000 level would catalyze a CME gap fill from the Luna Terra-crash era. Bitcoin CME Futures showcasing Luna crash CME Gap. Source: JJ The Janitor
From the perspective of Bitcoins weekly market structure, the $30,000 level is an important pivot point that has functioned as support in the previous bull market cycle (and now as resistance) but a grab above that level would essentially set a higher high on the longer time frame and be confirmation of a trend reversal where the next point of resistance is around the $37,000 level. BTC/USDT 1-week chart. Source: TradingView
Traders activity in the derivatives market is another factor contributing to the current crab market. Funding is down, open interest is relatively muted and besides retail plebs who are attempting to long breakouts and long lower support retests, or short breakouts and getting liquidated in both instances, a meaningful surge in these metrics that would inspire confidence that price is on the verge of some massive breakout has yet to emerge.BTC/USDT derivatives data, daily chart. Source: JJ The Janitor
Sure, DXY took a dip below 100 last week, but its possibly more connected to investors reacting to the Feds positive steps on inflation and too tight of a timeframe to expect some massive reaction from BTC immediately.
The price action in crypto exchange futures highlights degen longs and shorts trying to get ahead of price breakouts and that they are not having much success in the short term.
JJ the Janitor suggests that a metric to watch is aggregate open interest, if that breaks down sharply from the current range then some true buy the dip opportunities could emerge. Currently, its still in an uptrend, albeit sideways, but seeing a surge in OI could also be interesting and likely news, regulatory or legislative event driven.
Related: Bitcoin price falls under $30K as macro and regulatory worries take center stage
While Bitcoins short-term price action might raise some concern among newer investors and day-traders, the on-chain perspective remains quite compelling.
The #Bitcoin Long-Term Holder Supply remains at an ATH of 14.5M BTC. This suggests mature investors are preferring to accumulate Bitcoin, rather than distribute. pic.twitter.com/VkY9uTAVGG glassnode (@glassnode) July 18, 2023
At the same time, the Total Balance in Accumulation Addresses metric has also resumed its uptrend since March 16, when BTC price traded at $25,000. Bitcoin Total Balance in Accumulation Addresses (BTC). Source: Glassnode
Readers should also note that the metric also shows the total balance in accumulation addresses increasing since January 2022, when Bitcoin price was trading at $47,800 per coin. What is apparent is that through the worst of the crypto market collapse and Bitcoin price sell-off, multiple on-chain metrics show investors continuing to increase their allocation to BTC.
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision. # Bitcoin # Cryptocurrencies # Bitcoin Price # Markets # Derivatives # Market Analysis
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If you picked the mighty Los Angeles Dodgers to be the first team to win 50 games this MLB season, you weren’t alone.
You were also wrong.
If you picked the Detroit Tigers, congratulations! We’re not sure we believe you, but we’ll give you the benefit of the doubt.
The Tigers won their 50th game on Tuesday, a full day before the Dodgers, and they got there thanks to big contributions all season from ace Tarik Skubal, the red-hot Riley Greene and the resurgent Javier Baez, among many others.
But are they really as good as they’ve played so far? Are they even the American League’s best team? Could they defeat the Dodgers (or whichever team comes out of a stacked National League) in the World Series?
We asked MLB experts Bradford Doolittle, Tim Keown, Jeff Passan and David Schoenfield to tackle all things Tigers before they play host to the Minnesota Twins on “Sunday Night Baseball” (7 p.m. ET, ESPN and ESPN2).
Who is the biggest threat to Detroit in the AL — and would you take the Tigers to beat them in an ALCS showdown?
Doolittle: The Yankees still have the AL’s best roster and remain the favorites in the circuit, even with the Rays and Astros closing in fast on both Detroit and New York. This feels like a season in which, by the time we get to October, there’s not going to be a clear-cut front-runner in the AL. But if we zero in on a possible Tigers-Yankees ALCS, I like the interchangeability of the Detroit staff, which we saw in action late last year. Max Fried and Skubal cancel each other out, so it really comes down to the number of favorable matchups A.J. Hinch can manipulate during a series of games between two postseason offenses likely predicated on timely multi-run homers.
Keown: It’s obviously the Yankees — unless it’s the Rays. Tampa’s lineup is deep and insistent, and the pitching staff is exactly what it always seems to be: consistent, stingy and comprised of guys only hardcore fans can identify. They’re really, really good — by far the best big league team playing in a minor league ballpark.
Passan: It’s still the New York Yankees. They’ve got Aaron Judge, they’ve got Fried and Carlos Rodon for four starts, they’ve got better lineup depth than Detroit. Who wins the theoretical matchup could depend on how aggressively each team pursues improvement at the trade deadline. Suffice to say, the Tigers will not be trading Jack Flaherty this year.
Schoenfield: I was going to say the Yankees as well, but as I’m writing this I just watched the Astros sweep the Phillies, holding them to one run in three games. As great as Skubal has been, Hunter Brown has been just as good — if not better. (A couple of Brown-Skubal matchups in the ALCS would be super fun.) Throw in Framber Valdez and you have two aces plus one of the best late-game bullpens in the biz. The offense? Nothing great. The difference-maker is clear: getting Yordan Alvarez healthy and hitting again.
Who is the biggest threat to Detroit in the NL — and would you take the Tigers to beat them in a World Series matchup?
Doolittle: The Dodgers are the team to beat, full stop. In many ways, their uneven start to the season, caused by so many pitching injuries, represents the lower tier of L.A.’s possible range of outcomes. And the Dodgers still are right there at the top of the majors. I can’t think of any good reason to pick against them in any 2025 competitive context. In a Tigers-Dodgers World Series — which would somehow be the first one ever — I just can’t see the Tigers scoring enough to beat L.A. four times.
Keown: The Dodgers. No need to get cute here. The Dodgers are the biggest threat to just about everything baseball-related. And while the matchup would be a hell of a lot of fun, filled with all those contradictory juxtapositions that makes a series riveting, let’s just say L.A. in seven.
Passan: It’s still the Los Angeles Dodgers. They’re getting healthier, with Shohei Ohtani back on the mound and still hitting more home runs than anyone in the National League. Will Smith is having the quietest .300/.400/.500 season in memory. Freddie Freeman is doing Freddie Freeman things. Andy Pages is playing All-Star-caliber baseball. Even Max Muncy is hitting now. And, yes, the pitching has been a problem, but they’ve got enough depth — and enough minor league depth to use in trades — that they’re bound to find 13 more-than-viable arms to use in October.
Schoenfield: A Tigers-Dodgers showdown would be a classic Original 16 matchup and those always feel a little more special. Although who wouldn’t want to see a rematch of the 1945, 1935, 1908 or 1907 World Series between the Tigers and Cubs? Those were split 2-2, so we need a tiebreaker. But I digress. Yes, the Dodgers are still the team to beat in the NL — especially since we’ve seen the Phillies’ issues on offense, the Cubs’ lack of pitching depth and the Mets’ inconsistency. The Dodgers have injuries to deal with, but there is still time for Blake Snell and Tyler Glasnow and everyone else to get back.
One game, season on the line, who would you want on the mound for your team: Tarik Skubal or any other ace in the sport?
Doolittle: I’d go with Skubal by a hair over Zack Wheeler, with Paul Skenes lurking in the three-hole. The way things are going, by the end of the year it might be Jacob Misiorowski, but I’m probably getting ahead of myself. Anyway, Skubal has carried last season’s consistent dominance over and he’s just in that rare zone that great starters reach where you’re surprised when someone actually scores against them. He and Wheeler are tied with the most game scores of 70 or better (18) since the start of last season. Their teams are both 17-1 in those games. It’s a coin flip, but give me Skubal.
Keown: Skubal. There are plenty of other candidates — Wheeler, Fried, Jacob deGrom, and how about some love for Logan Webb? — but I’m all but certain a poll of big league hitters would reveal Skubal as the one they’d least like to face with everything riding on the outcome.
Passan: Give me Skubal. Even if others have the experience and pedigree, I’m going to bet on stuff. And nobody’s stuff — not even Skenes’ — is at Skubal’s level right now. He doesn’t walk anyone. He strikes out everyone. He suppresses home runs. If you could build a pitcher in a lab, he would look a lot like Skubal.
Schoenfield: I’m going with Wheeler, just based on his postseason track record: He has a 2.18 ERA over 70⅓ career innings in October, allowing no runs or one run in five of his 11 career starts. Those are all since 2022, so it’s not like we’re looking at accomplishments from a decade ago. And Wheeler is arguably pitching better than ever, with a career-low OPS allowed and a career-high strikeout rate.
What is Detroit’s biggest weakness that could be exposed in October?
Doolittle: I think elite October-level pitching might expose an overachieving offense. It’s a solid lineup but the team’s leading run producers — Greene, Spencer Torkelson, Zach McKinstry, Baez, etc. — can pile up the whiffs in a hurry. If that happens, this is a team that doesn’t run at all, and that lack of versatility concerns me.
Keown: The Tigers are the odd team that doesn’t have a glaring weakness or an especially glaring strength. They have a lot of really good players but just one great one in Skubal. (We’re keeping a second spot warm for Riley Greene.) They’re managed by someone who knows how to navigate the postseason, and they’ve rolled the confidence they gained with last season’s remarkable playoff run into this season. So take your pick: Any aspect of the game could propel them to a title, and any aspect could be their demise. And no, that doesn’t answer the question.
Passan: The left side of Detroit’s infield is not what one might consider championship-caliber. With Trey Sweeney getting most of the at-bats at shortstop, the Tigers are running out a sub-replacement player on most days. Third base is even worse: Detroit’s third basemen are barely OPSing .600, and while they might have found their answer in McKinstry, relying on a 30-year-old who until this year had never hit is a risky proposition.
Schoenfield: I’m not completely sold on their late-game bullpen — or their bullpen in general. No doubt, Will Vest and changeup specialist Tommy Kahnle have done the job so far, but neither has a dominant strikeout rate for a 2025 closer and overall the Detroit bullpen ranks just 25th in the majors in strikeout rate. How will that play in the postseason against better lineups?
With one month left until the trade deadline, what is the one move the Tigers should make to put themselves over the top?
Doolittle: The big-ticket additions would be a No. 3 or better starting pitcher or a bona fide closer — the same stuff all the contenders would like to add. A lower-profile move that would really help would be to target a shortstop like Isiah Kiner-Falefa, whose bat actually improves what Detroit has gotten from the position just in terms of raw production. But he also adds contact ability, another stolen base threat and a plus glove. For the Tigers to maximize the title chances produced by their great start, they need to think in terms of multiple roster-filling moves, not one big splash.
Keown: Prevailing wisdom says to beef up the bullpen and improve the offense at third base, which would put names like Pete Fairbanks and Nolan Arenado at the top of the list. But the pitching and offense are both top-10 in nearly every meaningful statistic, and I contend there’s an equally good case to be made for the Tigers to go all in on a top-line starting pitcher. Providing Sandy Alcantara a fresh environment would deepen the rotation and lighten the psychic load on Tarik Skubal and Casey Mize. (Every word of this becomes moot if the MLB return of 34-year-old KBO vet Dietrich Enns is actually the answer.)
Passan: Bring Eugenio Suarez home. The third baseman, who currently has 25 home runs and is slugging .569, signed with Detroit as an amateur in 2008 and spent five years in the minors before debuting in 2014. That winter, the Tigers traded him to Cincinnati for right-hander Alfredo Simon, who, in his only season in Detroit, posted a 5.05 ERA in 187 innings. Suarez’s power would fit perfectly in the Tigers’ lineup and is robust enough to get over the fence at Comerica Park, one of the largest stadiums in MLB.
Schoenfield: This is the beauty of the Tigers: They can go in any direction. As good as the offense has been, it feels like several of these guys are ripe for regression in the second half: Baez, McKinstry, maybe Torkelson and Gleyber Torres. That group is all way over their 2024 level of production. If those guys fade, an impact bat might be the answer. But is one available? Arenado certainly isn’t an impact bat anymore and might not be traded anyway. Maybe Eugenio Suarez if the Diamondbacks fade. But the likeliest and easiest answer: bullpen help.
A cabinet minister has criticised chants at Glastonbury calling for “death to the IDF” – but has also told the Israeli embassy to “get your own house in order”.
Health Secretary Wes Streeting condemned the chants against the Israel Defence Forces – calling them “appalling” – but notably also criticised the embassy over the conduct of some Israeli citizens in the occupied West Bank.
Glastonbury Festival has said it is “appalled” by the statements made by Bobby Vylan, of punk duo Bob Vylan, during their set on Saturday – saying they “crossed a line”.
Speaking to Sunday Morning With Trevor Phillips, Mr Streeting said he believed the BBC and Glastonbury had “questions to answer” over what he called a “shameless publicity stunt” during the set of Bob Vylan.
“I thought it was appalling, to be honest and I think the BBC and Glastonbury have got questions to answer about how we saw such a spectacle on our screens,” he said.
“But I also think it’s a pretty shameless publicity stunt, which I don’t really want to give too much indulgence to for that reason.”
He said the focus should instead be on “Israeli settler terrorists” attacking a Christian village just weeks after setting it on fire.
He added: “I’d also say to the Israeli embassy, get your own house in order, in terms of the conduct of your own citizens and the settlers in the West Bank.
“So, you know, I think there’s a serious point there by the Israeli embassy, I take seriously. I wish they’d take the violence of their own citizens towards Palestinians more seriously.
“We all condemned and continue to condemn what happened on 7 October. We all want to see the return of the hostages. And there’s no justification for inciting violence against Israelis.
“But you know, the way in which Israel’s conducting this war has made it extremely difficult for Israel’s allies around the world to stand by and justify. In fact, we’ve got to do the opposite as an international community, which is to challenge and urge a change.”
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What’s the Glastonbury controversy?
The Israeli embassy said it was “deeply disturbed” by the anti-IDF chants, which are being investigated by the police.
Video shows one of the members of Bob Vylan shouting the slogan into the mic and some of the crowd joining in.
The duo were performing ahead of a performance by Kneecap, the Irish act the prime minister believed should have been banned from the world-famous festival.
“The Embassy of Israel in the United Kingdom is deeply disturbed by the inflammatory and hateful rhetoric expressed on stage at the Glastonbury Festival,” a statement said.
It said slogans like Saturday’s chant “advocate for the dismantling of the State of Israel”.
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Police reviewing comments made by two acts at Glastonbury
The Conservatives also criticised the incident, with Helen Whately, the shadow work and pensions secretary, saying she was “shocked” by the footage.
“I was shocked to see some of the footage of that chanting of the crowd,” she told Sunday Morning With Trevor Phillips.
“And the music artist was ramping it up.
“I mean to me, also, one of the horrible things about it is, obviously it’s over a year and a half ago that innocent, festivalgoers at a festival in Israel were raped and murdered by Hamas – and then we have a music festival here in the UK where you have a chant saying death to the Israeli Armed Forces who are, you know, taking action to protect people from what Hamas did in Israel.
“I just think it’s disgusting.”
She added: “Yes, I believe in free speech, but that was incitement to violence. It was incitement to kill. That is not something that we support in this country.”
An Instagram post published by the festival on Sunday morning read: “As a festival, we stand against all forms of war and terrorism. We will always believe in – and actively campaign for – hope, unity, peace and love.
“With almost 4,000 performances at Glastonbury 2025, there will inevitably be artists and speakers appearing on our stages whose views we do not share, and a performer’s presence here should never be seen as a tacit endorsement of their opinions and beliefs.
“However, we are appalled by the statements made from the West Holts stage by Bob Vylan yesterday.
“Their chants very much crossed a line and we are urgently reminding everyone involved in the production of the Festival that there is no place at Glastonbury for antisemitism, hate speech or incitement to violence.”
The inside of the superyacht that sank off the coast of Sicily almost a year ago has been seen for the first time after it was resurfaced.
British billionaire Mike Lynch, 59, his daughter Hannah, 18, and five others died after the 56-metre (184ft) Bayesian sank off Porticello on 19 August 2024.
Images reveal what the inside of the British-flagged vessel looks like now – after it was resurfacedand placed in a manufactured steel cradle in Termini Imerese.
In one picture, a lounge area can be seen, complete with sofas and other furniture, while another shows the hatch down to the lower deck.
Image: The tragedy last August claimed seven lives
Image: A full examination of the yacht is being carried out
Now the boat is back on land, a balloon-like instrument will be used to lift its 72m (236ft) mast after it was cut off with a remote-controlled tool to rest on the seabed.
While salvage workers continue a “full sweep” of the ocean floor nearby, a full examination of the yacht will look at what could have been done to prevent the tragedy.
The UK Marine Accident Investigation Branch (MAIB) will then publish a report into its investigation.
Image: Salvage teams managed to raise the vessel and bring it ashore
Image: The boat had lain on the seabed at a depth of 50 metres
The family of the Bayesian chef Recaldo Thomas, who was among those who died, says “lessons need to be learned”.
In a statement through the Thomas family lawyers Keystone Law, they said they want the investigation to “establish the truth of what happened” and “bring those responsible to justice”.
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Bayesian superyacht raised from seabed
Simon Graves, an MAIB investigator, said of the investigation previously: “When the wreck is brought ashore, we’ll be completing a full examination of the wreck and we’ll be finding out all of the elements that might have contributed to the safety of the vessel.”
Things like the vessel’s “escape routes” will be included in the final report, Mr Graves added.
“Once we get access to the vessel we’ll be able to tell a fuller picture of activities on board and the sequence of events.”
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A UK inquest will look at the deaths of Mr Lynch, Miss Lynch, Morgan Stanley banker Jonathan Bloomer, 70, and his wife Judy, 71, who were all British nationals.
US lawyer Chris Morvillo and his wife Neda also died.
Fifteen people, including Mr Lynch’s wife Angela Bacares, were rescued.