source avatarBerke Oktay

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What outcome will the cryptocurrency sector see? The Others Market Cap, which excludes major altcoins, managed to close the month above its critical support level. Half of July has passed, and the critical $150B level continues to be fiercely defended. The countdown for the Clarity Act has begun, with voting expected to take place by August 7. Senate Majority Leader John Thune has also confirmed that voting will occur no later than August 7. It is significant that the Others Market Cap is holding above support while responding to such a critical piece of news. We are in a highly sensitive period, and near-term price movements have become partially dependent on the outcome of the Clarity Act vote. While there is certainly a possibility of price revisiting the X region on the chart, selling any asset while it remains above its support level is never logical. Ultimately, we are striving to stay afloat in a weak altcoin market where the 2021 peak has yet to be surpassed after years. Positioning in assets that are likely to come to the forefront during tokenization and DeFi adoption—especially those with ETFs—remains the safer strategy.

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