If you have an account in Bank of Baroda (BOB) or any other bank, there’s great news: two major updates in BOB Rules for 2025!
On Thursday, July 24, 2025, the price of Bitcoin (BTC) plunged below $59,000, marking a sharp decline of over 3.5% in 24 hours. The bearish momentum appears to be driven by a combination of macroeconomic pressures, declining volume, and profit-taking by whales.
| Cryptocurrency | Price (USD) | 24h Change |
|---|---|---|
| Bitcoin (BTC) | $58,720 | ▼ -3.5% |
| Ethereum (ETH) | $3,020 | ▼ -2.1% |
| Solana (SOL) | $85.90 | ▼ -4.2% |
| XRP | $0.61 | ▼ -1.8% |
Strong US Dollar Index (DXY)
A strong dollar typically pressures risk assets like crypto.
Weak Global Sentiment
Concerns about slowing US growth and the possibility of a rate hike spooked the crypto market.
Profit Booking by Whales
On-chain data shows large BTC holders have moved coins to exchanges — a sign of selling.
Low Market Liquidity
Lower volumes during the summer season are amplifying price moves.
RSI is approaching the oversold zone (~34), which may indicate a short-term bounce.
“Bitcoin slipping under $59k shows weakness, but a strong bounce from the $57,500 level is likely. Traders should wait for confirmation before entering fresh longs.”
— Nitesh Sharma, Crypto Technical Analyst
Keep an eye on:
Bitcoin's drop below $59K may just be another correction in a larger consolidation phase. For long-term believers, these dips offer a chance to accumulate. For traders, risk management is key in this high-volatility environment.
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