Cryptocurrencies, including Bitcoin, are currently experiencing a downturn despite reaching a 13-month high last week. The stock market has seen positive sentiment, while cryptocurrencies have been affected by varying outlooks for interest rates and recession risks. However, some cryptocurrencies, such as Chainlink, Chimpzee, Compound, DeeLance, and Stellar, are still considered good investments due to their strong fundamentals and/or technical analysis. Chimpzee's presale has surpassed $1 million, while DeeLance has raised over $1.59 million in its presale and is considered one of the most promising crypto presale projects of 2023. Meanwhile, Stellar is experiencing a slight cool-off in its recent price action, with traders advised to keep a close eye on the Fib 0.382 level for potential buy opportunities.

Crypto analyst Michaël van de Poppe has predicted multiple scenarios for Bitcoin (BTC) after it fell 4.5% in a week. He believes that BTC may go lower before rallying and that there will be a case of a sweep down for Bitcoin. Van de Poppe suggests that BTC will sweep to around the $28,500 level before rebounding, but he can also imagine a scenario in which BTC has already reached its low. BTC is currently worth $29,844, down 0.5% on the last day.

Craig Wright, who claims to be the creator of Bitcoin, has been granted the right to argue that the Bitcoin file format should receive copyright protection under UK law. This comes after a UK court dismissed Wright's plea to block the operation of Bitcoin and Bitcoin Cash due to intellectual property rights violations. The case involves 26 defendants associated with Bitcoin, including developers and entities of crypto exchange Coinbase. A trial to determine whether Wright is indeed Satoshi Nakamoto, the creator of Bitcoin, is set to begin in January 2024.

Bitcoin, the world's largest cryptocurrency by market capitalization, has rebounded from support at $29,500 and is currently trading just above $30,000. The cryptocurrency has been testing key short-term support levels in the mid-$29,000s multiple times this week, with the bulls holding firm for now. Bitcoin has been rangebound between $29,500 and $30,500 for almost a week, with a lack of notable US macro events and updates on US crypto regulation/institutional adoption. The upcoming US Federal Reserve meeting next week, where interest rates are expected to be lifted, could trigger some breakouts in the bitcoin market.

The US Securities and Exchange Commission (SEC) may soon have to make a decision on whether to approve Bitcoin spot ETF applications. The first application, the ARK 21shares Bitcoin ETF, is expected to receive a response from the SEC by August 8th, although this deadline may be delayed. Other ETFs are expected to have a response deadline in early September. The final deadline for approval of the ARK ETF is January 10, 2024.

Bitcoin is currently range-bound, but it is uncertain which direction it will break out. On-chain indicators suggest that investors are holding onto their Bitcoin, similar to market conditions in 2016 and 2019-20. Capriole Investments founder Charles Edwards believes that BlackRock's ETF application could make it easier for institutions to invest in Bitcoin. The charts of the top 10 cryptocurrencies show that Bitcoin may either break below the support of the range or break above the 20-day EMA.

Whale Alert has reported that wealthy crypto investors have transferred hundreds of millions of dollars worth of digital assets, including Bitcoin and Ethereum. One high-net-worth trader moved 14,159 Bitcoin worth $421.7 million from an unknown wallet to another, while another transferred 1,881 Bitcoin worth $55.9 million to Coinbase. Other large transactions involved Ethereum and Solana, with one whale moving 27,366 ETH from Binance.US to an unknown wallet and another moving 2,000,000 SOL from Binance to an unknown wallet. There were also transfers of Shiba Inu and Chainlink.

Bitcoin and Ripple have been the focus of the past week, with the total market capitalization decreasing by $11 billion due to investor uncertainty. Bitcoin's price has remained around the $30K level, with attempts to push above $31K being intercepted by bears. However, analyst Willy Woo believes that the rangebound trading may soon come to an end, leading to a major move. Meanwhile, the US Securities and Exchange Commission remains silent on the case against Ripple, and the week has been relatively quiet in terms of price developments.

The cryptocurrency known as "BITCOIN" has seen a surge of over 300% in value in the past week, but it is not the well-known Bitcoin that is responsible for this increase. Instead, "BITCOIN" is actually a new meme token called HarryPotterObamaSonic10Inu (ERC-20), which is generating over $14 million in daily volume on UniswapV2 on Ethereum. The token's value has risen from $0.015 on July 13 to a high of $0.09 on July 20, and currently trades at $0.067 with an estimated market cap of $66 million. This spinoff coin is not uncommon and has seen some success in the past, such as Shiba Inu (SHIB) which briefly overtook Dogecoin's market cap.

Greenpeace USA has caused controversy in the Bitcoin community once again with its latest anti-Bitcoin campaign. The environmental advocacy group projected images onto buildings in New York City to draw attention to the climate impact of Bitcoin investments by major financial institutions such as JPMorgan Chase & Co. and BlackRock. The projections showed the CEOs of Blackrock and Chase with red laser eyes, a characteristic of Bitcoin maximalist profile images, and labeled Bitcoin as a "climate bomb" due to its energy consumption from fossil fuels. The Bitcoin community defended its energy consumption, but Greenpeace cited a recent report on significant losses due to crypto hacks and advocated for a more energy-efficient consensus mechanism through its campaign "Change the Code, Not the Climate."