The crypto market reflected significant losses as the US officially entered the Iran-Israel war late Saturday night. According to President Trump, the US has bombed notable nuclear sites in Iran, signaling its first active strike in this geopolitical conflict.
The crypto market reacted with notable liquidations across the altcoin sector. Ethereum dropped over 5% following the news, trading below $2,300 for the first time in a month.
Also, Cardano is nearing a 3-month low following the news – down 6% today. AI agent coins suffered the biggest blow, as VIRTUAL and FET dipped nearly 10%.
Crypto Market Liquidations After US Strikes Iran. Source: Coinglass
While Bitcoin still holds above $102,500, indicators suggest it could potentially fall below the $100,000 psychological level if further escalations are reported over the weekend.
As of now, the market will be cautiously looking at Iran’s response. President Trump has stated that any response from Iran would result in further US actions.
Overall, crypto liquidations exceeded $670 million today, and further escalation could very well signal a short-term bearish cycle.
The coming week is critical for the crypto market as the Trump administration publishes its assessment of the US crypto industry. The White House’s crypto report on July 30 is building anticipation among investors.
In line with this, BeInCrypto has analysed three altcoins that the whales have been buying over the past 24 hours.
Tutorial (TUT)
TUT has seen a significant surge, with the price rising by 17.68% over the last 24 hours. The increase is primarily due to the steady accumulation of TUT by investors. This rise indicates growing interest in the altcoin, signaling a potential bullish trend in the near term.
Over the last 24 hours, TUT whales have purchased 30 million TUT, valued at over $2.4 million. This accumulation suggests strong investor belief in TUT’s future potential, especially ahead of a potentially positive report this week.
Such behavior reinforces the bullish outlook for the altcoin, indicating increased confidence among large holders.
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Currently trading at $0.072, TUT is edging closer to its next price target of $0.080. If TUT successfully surpasses this level, it could trigger increased optimism among investors. A break above $0.080 would likely propel the price higher, attracting more buyers and strengthening the bullish momentum.
Pudgy Penguins (PENGU)
PENGU has become one of the most sought-after altcoins, as whales accumulated 400 million PENGU, valued at over $16.8 million in the last 24 hours.
This large-scale buying activity signals strong investor interest and suggests that the altcoin is poised for further upward movement in the short term.
The whale accumulation led to a 17% rise in PENGU’s price over the past day. Currently trading at $0.043, PENGU is nearing its all-time high (ATH) of $0.0469. With the current momentum, the altcoin is expected to likely breach its ATH, pushing prices even higher.
However, if the broader market shifts to a bearish trend, PENGU could face significant resistance. A decline below the $0.040 support level could signal further weakness, potentially pushing the altcoin down to $0.0299.
This would invalidate the bullish outlook, suggesting caution for potential investors.
Pendle (PENDLE)
PENDLE has experienced a 5% gain over the last 24 hours, signaling potential for further upward movement. Despite increased whale accumulation, a major price surge has yet to occur.
If buying pressure continues, the cryptocurrency could see a sustained rally in the near future.
In the past 24 hours, PENDLE whales have purchased over 30,000 tokens, valued at approximately $133,200. This accumulation reflects a strategic move by larger investors, indicating potential bullish sentiment.
Should the demand from these whales increase, PENDLE may see its price continue to rise in the coming days.
However, if whales decide to sell their holdings, PENDLE could face downward pressure. A drop below the $4.21 support could lead the token to fall from its current price of $4.43 to $3.90.
Pudgy Penguins (PENGU) is among the top gainers today, rising by double-digit gains on Sunday following endorsements by Tron founder Justin Sun on X (Twitter).
Elsewhere, the Tron executive highlighted new measures to cut TRON gas fees and boost network competitiveness.
The Solana-based meme coin inspired by the popular NFT collection surged 31% on CoinGecko following a flurry of social media momentum sparked by TRON founder Justin Sun.
Sun posted a cartoon depiction of a penguin styled with his signature hairstyle and wearing a TRON logo shirt. Accompanying the image was the caption: “OK. Everyone has become a penguin.”
The post quickly gained traction within the crypto and Pudgy Penguins communities, which responded enthusiastically. The official Pudgy Penguins X (Twitter) account quoted Sun’s post with the phrase, “Everyone will Huddle.
“Justin looks good here. Welcome to the Huddle,” Pudgy Penguins wrote in a post.
The viral moment has amplified attention around PENGU, helping push its price higher and fueling further speculation about the token’s upside.
Meanwhile, the surge in PENGU price comes only days after on-chain analyst Ali highlighted an impending momentum for the Pudgy Penguins token. The analyst described the token as having real fundamentals.
“When you compare what PEPE accomplished to where PENGU stands today, it feels like a once-in-a-lifetime entry. The key difference? Pudgy Penguins has real fundamentals behind it,” wrote Ali.
The analyst also noted PENGU’s “textbook bullish retest” on July 10 and forecasted a short-term price target of $0.060 by August. However, this forecast is contingent on the US SEC (Securities and Exchange Commission) approving Canary’s Spot PENGU ETF.
The PENGU/USDT chart on the 1-day timeframe shows the Pudgy Penguins token scaling a recovery rally, en route to retake its all-time high (ATH) of $0.07, recorded on December 17.
Technical indicators align with the support confluence between the 50, 100, and 200 SMA (Simple Moving Averages) at $0.012, $0.011, and $0.013, respectively. Any perceived selling pressure would be countered by significant buyer momentum from these bull congestion zones.
If buying pressure increases, the PENGU price could recapture support due to the 50% Fibonacci retracement level of $0.036. Enhanced buying pressure beyond this level could see PENGU flip the most critical Fibonacci level, 61.8% at $0.044% into support.
A decisive candlestick close above this level on the daily timeframe could set the tone for PENGU to reclaim its $0.07 ATH. Such a move would constitute a 130% move above current levels.
Conversely, if investors cash in for early profits, it could interrupt the ongoing rally for PENGU. A break below the 23.6% Fibonacci retracement level could plunge PENGU back into the consolidating phase below $0.019, where bulls would have another discounted entry around the SMAs
Justin Sun Pushes TRON Fee Cuts to Keep Network Competitive
Meanwhile, Sun continues to push for reduced TRON gas fees. He urged the TRON community to adopt various measures to cut transaction costs.
As the price of TRX continues to rise, the Tron community should adopt various measures to reduce Tron’s gas fees—whether by lowering the unit price of energy, increasing the energy cap, or encouraging energy staking—to ensure the Tron network remains competitive.
The Tron executive followed up with tangible results, indicating that Justlend’s STRX staking feature has already reduced the unit price for energy rental.
Specifically, it lowered the overall energy rental cost by 30% across various scenarios. Additional measures to further reduce TRX network transaction fees are currently being implemented.
Pi Network (PI) has recently faced a challenging period in its price action. After dipping below the $1 mark, the altcoin’s recovery appears to be losing momentum.
Unlike previous rebounds, current market conditions suggest that Pi Network might find it more difficult to regain the $1.00 price level.
Pi Network Is Losing Traction
The Average Directional Index (ADX) currently sits at 32, which is notably above the 25 threshold. This reading indicates that the prevailing trend is gaining strength. In this case, Pi Network’s trend is downward, reinforcing bearish sentiment among traders and investors.
Further evidence of this strengthening downtrend is visible through the Parabolic SAR indicator. The dots are positioned above the candlesticks, a classic signal that the price is likely to continue falling. Such technical indicators often prompt cautious trading behavior and can increase selling pressure.
Pi Network Parabolic SAR and ADX. Source: TradingView
Pi Network’s price has shown a weakening correlation with Bitcoin, currently measured at 0.25 and steadily declining. This low and falling correlation suggests that PI is starting to behave more independently rather than mirroring Bitcoin’s movements.
This decoupling is significant because Bitcoin recently set a new all-time high (ATH) and may continue to rise. However, Pi Network is less likely to capitalize on Bitcoin’s bullish momentum, given its diverging price dynamics.
The falling correlation implies that PI could struggle to follow Bitcoin’s upward trajectory.
Pi Network Correlation With Bitcoin. Source: TradingView
PI Price Aims For A Rally
At its current price of $0.77, Pi Network would need to rise approximately 28% to reach the $1.00 mark again. Given the indicators pointing to a strengthening downtrend and weakening correlation with Bitcoin, this price target seems ambitious in the near term.
Heightened bearishness may erode investor confidence, leading to increased selling. Should the price break below the critical support level of $0.71, Pi could face a further decline, potentially sliding down to $0.61. Such a drop would deepen the bearish outlook.
On the other hand, if broader market conditions improve, Pi Network might break through resistance levels at $0.78 and $0.87. Surpassing these points could invalidate the current bearish thesis and pave the way for a renewed push toward the $1.00 price target.
(@justinsuntron) 
