Leading cryptocurrencies staged a sharp recovery alongside stocks on Thursday, reversing a Federal Reserve-driven sell-off the day before.
| Cryptocurrency | 24-Hour Gains +/- | Price (Recorded at 9:25 p.m. EDT) |
|---|---|---|
| Bitcoin (CRYPTO: BTC) | +2.16% | $65,112.78 |
|
Ethereum (CRYPTO: ETH) |
+1.31% | $1,929.21 |
| XRP (CRYPTO: XRP) | +1.48% | $1.08 |
| Solana (CRYPTO: SOL) | +2.05% | $75.02 |
| Dogecoin (CRYPTO: DOGE) | +0.72% | $0.07079 |
Crypto Market Rebounds
After a brief lull, Bitcoin pushed back above $65,000. Ethereum, meanwhile, continued to wrestle with bears near the $1,930 level
Cryptocurrency-related stocks also fell, with Strategy Inc. (NASDAQ:MSTR) and Bitmine Immersion Technologies Inc. (NYSE:BMNR) closing up 4.73% and 2.18%, respectively.
Nearly $200 million was liquidated from the cryptocurrency market in the last 24 hours, th bearish short traders taking the biggest hit, according to Coinglass data
Bitcoin’s open interest rose 2.25% over the last 24 hours, aligning with the spike in spot prices. The total cryptocurrency buy orders broadly matched the market sells, indicating equilibrium between market forces.
Despite the gains, "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 9:25 p.m. EDT) |
| SanDisk Tokenized bStocks (SNDKB) | +29.73% | $1,367.64 |
| Micron Technology Tokenized bStocks (MUB) | +19.93% | $909.12 |
| Decred (DCR) | +17.10% | $13.72 |
The global cryptocurrency market capitalization stood at $2.19 trillion, representing a 1.04% increase over the last 24 hours.
Read Also: JPMorgan Warns Crypto Faces Setback As CLARITY Act Odds Drop To 37%
Stocks Also Claw Back
The Dow Jones Industrial Average jumped 613.92 points, or 1.2%, to end the day at 52,208.06. The S&P 500 rallied 1.7% to settle at 7,437.63, while the tech-heavy Nasdaq Composite lifted 2.8% to settle at 25,122.18.
Microsoft Corp. (NASDAQ:MSFT) powered the rally, finishing 15% higher, after the company reported better-than-expected fourth-quarter financial results.
Meanwhile, geopolitical tensions remained elevated. The U.S. military rejected Iran’s claim that three F-35 fighter jets were destroyed in a recent missile attack on an American base in Jordan, adding that all the projectiles were intercepted.
Over the past few hours, Iranian state media have continued to report false claims by the Islamic Revolutionary Guard Corps (IRGC) – three in particular.
— U.S. Central Command (@CENTCOM) July 30, 2026
🚫 FIRST CLAIM: The IRGC (again) claims free and open routes through the Strait of Hormuz are dangerous for commercial… pic.twitter.com/J34ILmDvyk
‘Don’t Fear a Drop to $60,000’
Ali Martinez, a widely followed cryptocurrency analyst and trader, said a Bitcoin drop to $60,000 would not be unwelcome, as it could complete an inverse head-and-shoulders pattern.
The inverse head and shoulders pattern is a bullish reversal pattern, indicating exhaustion of a prolonged downturn.
“A confirmed breakout above $66,500 would then put $74,000 in play,” the analyst added.
Don't fear a drop to $60,000.
— Ali Charts (@alicharts) July 30, 2026
For Bitcoin $BTC, it could be exactly what's needed to complete an inverse head-and-shoulders pattern. A confirmed breakout above $66,500 would then put $74,000 in play. https://t.co/b6blmQV2mS pic.twitter.com/evHdeGqZab
Michaël van de Poppe, another prominent cryptocurrency influencer, flagged $1,975 as a key resistance for Ethereum, projecting a swift move to $2,300 upon breakout.
If $ETH breaks through the $1,975 area, I don't think this will stall soon, my first target region is at $2,300. pic.twitter.com/C29OCoGWdP
— Michaël van de Poppe (@CryptoMichNL) July 30, 2026
Read Also: Forget XRP, Bitcoin: These 3 Coins Are Signaling 20%+ Upside Right Now
Photo: Memory Stockphoto / Shutterstock
