Bitcoin’s move beyond $31k was only temporary considering its position below $30k at the time of writing. Additionally, BTC’s indicators also painted quite a bearish picture for the king coin.

On 13 July, the SEC vs Ripple case finally reached a decision. The judge stated that XRP was not a security. As per data from CoinMarketCap, XRP shot up by double digits in the last hour of the time of writing.

On 12 July, the U.S. DoJ made some moves when it shifted more than 9k BTC with plans to sell the BTC obtained from the Silk Road fraud.

Bitcoin has been in the news for a while now, first for crossing $31,000, then when the BlackRock CEO called it an international asset, and the positive sentiment around it. However, BTC’s price action highlighted a darker side of the ongoing rally.

Tron [TRX] has been in the limelight for quite sometime now and for all the right reasons. With all the development in the ecosystem and indicators favoring a bull run, TRX has managed to prove it mettle in the market.

LunarCrush named Fantom [FTM] as the coin of the day based on its social and market performance. However, traders may still need to stay cautious despite all indicators in favor of the altcoin.

Bitcoin traders have every reason to celebrate as the king of cryptocurrencies crossed the $31k mark. However, short traders could rain on their parade given the press time position of these indicators.

ETH was being cheered on by the bulls as its price action of the last 24 hours was quite positive. Furthermore, as ETH moves to Q3 of 2023, its performance on the NFT and metric front also seemed to impress. Do traders need to watch out?

The Optimism network witnessed some growth over the last 30 days, however, OP failed to share the enthusiasm of the network. Additionally, OP’s current state would need more than just investor confidence to step out of its slumber.

Algorand had some good news to share with its community as it announced its latest partnership. However, ALGO traders looking for a bullish price action may have to delay their expectations.

Litecoin, managed to dazzle investors, thanks to its 20% surge over the last seven days. However, a look at its long/short ratio indicated that short positions dominated the market at the time of writing. Will LTC see a price correction over the weekend?

The Optimism protocol had a week full of noteworthy developments. However, it would take a while for OP to follow the sentiment as it still traded significantly lower than its price action seven days ago.