Bitcoin's Spent Output Profit Ratio (SOPR) is currently above 1, indicating that investors are selling at a profit. This could potentially lead to a short-term recovery in Bitcoin's price, according to a CryptoQuant analyst. The analyst also noted that the longevity of the SOPR's current position is similar to the conditions in 2017 and 2019, which led to Bitcoin's previous all-time highs. Meanwhile, the Estimated Leverage Ratio (ELR) has been rising, indicating that investors are taking big bets on Bitcoin's derivative traders despite the current market environment.

Cardano's (ADA) price hit a two-year low of $0.23 due to SEC court filings, but has since recovered by 20% to approach $0.28. On-chain data shows that ADA's price is flashing green signals for an imminent recovery, and whale investors are betting big on ADA again.

Bitcoin (BTC) recovered all of its losses from the month of June and reached almost a new high of $27,388 on Bitstamp. The rebound began the day before and continued as markets shook off initial nerves from US legal action against Binance and Coinbase.

Oil prices have fallen due to concerns about demand recovery in China and caution around the US debt ceiling talks, despite lower supplies from Canada and OPEC+ producers. Brent crude futures fell 0.6% to $75.10 a barrel, while US West Texas Intermediate crude for July delivery fell 0.6% to $71.24. The resumption of US debt ceiling negotiations will remain a key driver for crude and risk sentiment this week, according to IG's Sydney-based analyst Tony Sycamore. Investors are also concerned that China's recovery is faltering after weak economic data reports in the past two weeks.

Do Kwon, a controversial crypto entrepreneur, and his subordinate Han Chang-Joon are facing opposition to their bail approval from the local prosecution team in Montenegro. Despite Kwon's legal team securing court approval for their release on bail, the State Prosecutor's Office has filed an appeal against the judgment. During the court hearing, the prosecution claimed that the defendants had no interest in staying in Montenegro and that there were no conditions set for monitoring their activities. Kwon and his co-founder are currently being held under house arrest while awaiting trial for forgery. Stay ahead in the crypto market by keeping track of the updated list of crypto presale projects and Telegram channels to invest in for 2023. Don't miss out on potential profits by staying informed and up-to-date.