The recent recovery in the crypto market has still been primarily driven by a small number of top-tier assets. According to CoinMarketCap data, the combined market capitalization of the top eight crypto assets is approximately $1.71 trillion, while the total crypto market capitalization stands at around $2.17 trillion, indicating that these assets continue to dominate overall market movements.
Among these, Bitcoin and Ethereum have the most concentrated influence. BTC accounts for approximately 57.8% of the total market, while ETH represents about 9.8%, combining for a total of 67.6%. During periods of increased market volatility, this concentration often amplifies the impact of these leading assets on the broader market.
The June low is a key level to watch.
In early June, most major cryptocurrencies formed阶段性 support zones. The article noted that BTC found support near $59,249, DOGE saw buying interest near $0.078, BNB stabilized near $557, XRP established support near $1.05, and SOL held above the $60 level.
Among other assets, TRX has maintained support near $0.31, HYPE has held the $52.99 area, and ETH has shown demand near $1,559. These levels will now serve as key reference points to determine whether the market continues to weaken.
Four assets hold their support more firmly
By late June, BTC, DOGE, BNB, and XRP all briefly fell below their early-month support levels, indicating that selling pressure had not yet fully subsided.
In contrast, SOL, TRX, and HYPE did not break below their June lows. The article suggests that this indicates stronger buying support for these assets, even as overall market sentiment remains cautious, reflecting higher market confidence in their price ranges.
The July rebound is beginning to spread.
After early July, BTC rose approximately 9% over four days, and the rebound in top-tier assets began to spread to other major cryptocurrencies. The article notes that if the rebound continues, BTC could retest the level of around $67,050 seen in mid-June, while DOGE, BNB, and XRP may also revisit levels near $0.091, $630, and $1.30, respectively.
SOL has shown relatively stronger performance, reclaiming levels above its mid-June high and approaching above $75. The article notes that if this trend continues, SOL could rise further toward $98. Meanwhile, TRX is monitoring $0.37, HYPE is watching the area above $76 and $80, and ETH may retest $2,395.
In addition to price performance, the article notes that 24-hour active addresses on some related networks have increased since mid-June, indicating improved user engagement alongside the price recovery. For leading crypto assets, simultaneous improvements in price and on-chain activity are typically seen as a signal that market recovery is spreading.