Leading cryptocurrencies traded sideways on Wednesday, while stocks rallied as investors digested softer inflation data amid heightened tensions with Iran
Bitcoin Steadies, Ethereum Gains
Bitcoin climbed to an intraday high of $65,507, only to encounter strong resistance soon after. Ethereum, meanwhile, broke $1,900 for the first time since Feb. 3, while XRP and Dogecoin moved sideways.
Cryptocurrency-related stocks also retreated, with Strategy Inc. (NASDAQ:MSTR) and Bitmine Immersion Technologies Inc. (NYSE:BMNR) closing down 0.11% and 3.07%, respectively.
Over $300 million was liquidated from the cryptocurrency market in the last 24 hours, mostly wiping out bearish short bets, according to Coinglass data
Bitcoin's open interest rose 0.39% over the last 24 hours. Retail derivative sentiment on Binance remained "Neutral," with volume of buy orders slightly exceeding sell orders during the period.
"Extreme Fear" sentiment prevailed in the market, according to the Crypto Fear & Greed Index.
Top Gainers (24 Hours)
Cryptocurrency (Market Cap>$100 M)
Gains +/-
Price (Recorded at 9:30 p.m. EDT)
Ondo (ONDO)
+13.32%
$0.3609
eCash (XEC)
+12.69%
$0.000006399
ether.fi (ETHFI)
+12.07%
$0.4419
The global cryptocurrency market capitalization stood at $2.2 trillion, following a dip of 0.79% over the last 24 hours.
Stocks Climb On Favorable Inflation Data
Stocks extended the gains on Wednesday. The Dow Jones Industrial Average rose 150.37 points, or 0.29%, to end at 52,658.64. The S&P 500 advanced 0.38% to close at 7,572.40, while the tech-focused Nasdaq Composite spiked 0.62% to settle at 26,269.22.
Producer inflation came in well below expectations in June, following a softer-than-expected consumer inflation print the day before. The odds that the Federal Reserve would keep interest rates unchanged climbed further, according to the CME FedWatch tool.
Meanwhile, geopolitical tensions kept investors on edge as the U.S. launched a second wave of strikes against Iran's military assets.
At 3 p.m. ET, U.S. forces launched operations for a second wave of strikes today against Iran. The strikes are targeting Iranian military capabilities used to threaten vessels freely transiting through the Strait of Hormuz, an international waterway vital to global commerce. The…
— U.S. Central Command (@CENTCOM) July 15, 2026
'Attractive Long-term Accumulation Area'
Michaël van de Poppe, a widely followed cryptocurrency analyst and trader, said that indicators are flashing bottom signals and backed a dollar-cost averaging strategy during such periods.
The analyst reacted to a chart showing Bitcoin's relative unrealized profit hitting lows comparable to past accumulation phases in 2020 and 2023.
"The cycles don't need to repeat themselves on Bitcoin, but the behavior does repeat itself," Van De Poppe said. "This is the time."
The cycles don't need to repeat themselves on #Bitcoin, but the behavior does repeat itself.
This means: DCA when the markets are shouting for more downside and already already at the bottom.
Indicators flashing bottoming signals everywhere.
This is the time. https://t.co/gZksJWRU3W
— Michaël van de Poppe (@CryptoMichNL) July 15, 2026
Ali Martinez, another popular cryptocurrency commentator, says investors need not buy the "exact bottom" for long-term returns.
"Personally, I believe even current prices represent an attractive long-term accumulation area," Martinez said. "My plan is to accumulate during periods of weakness and look to take profits during the next major cycle, around 2029."
Don't obsess over timing the exact bottom.
One of the biggest mistakes I see is people mixing their long-term investment portfolio with their trading account.
I keep them completely separate.
Personally, I allocate:
• 90% of my capital to long-term spot investments.
• 10%… pic.twitter.com/gPiMwWhX2W— Ali Charts (@alicharts) July 15, 2026
Read Also:Trump Approval Rating 37%, More Voters Disapprove of Iran War Since April
Photo Courtesy: Zakharchuk on Shutterstock.com
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This article Bitcoin, XRP, Dogecoin Steady; Ethereum Gains Amid Soft Inflation Reading: Analyst Says Indicators 'Flashing Bottom Signals Everywhere' originally appeared on Benzinga.com
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