The cryptocurrency market recorded more than $669 million in net liquidations on Wednesday, July 23, 2025. The altcoin market accounted for the lion’s share of the $563 million in long liquidations during the past 24 hours.
According to market aggregate data from Coinglass, the ETH and XRP trading pairs recorded net liquidations of about $126 million and $69 million respectively. Bitcoin (BTC) on the other hand recorded a net liquidation of around $54 million.
Major Reasons Why Crypto Dropped Today
The 2025 altcoin bull market officially kicked off after the Ethereum price outpaced Bitcoin, leading to a reversal in the BTC dominance. The rising calls for altseason 2025 attracted more FOMO (fear-of-missing-out) traders, thus leading to overheated futures.
According to market data analysis from CryptoQuant, an overheated futures market amid weak prices often leads to a distribution phase. Additionally, market data analysis from Santiment shows the social volume and dominance for altseason 2025 surged to yearly peaks after Ether price approached $4k.
Historically, an increase in social dominance of ATH often precedes a market correction.
The heavy liquidation of long traders has also triggered panic selling, thus increasing the odds of a long squeeze.
What Next?
The crypto market has gained bullish momentum fueled by clear regulatory frameworks in the United States amid renewed demand from institutional investors. The rising global money supply will further boost the crypto bull market in the coming months.
As a result, the wider crypto market is likely to be trapped in a short-term consolidation before a parabolic rally before the end of 2025. The macro bullish sentiment is bolstered by BTC’s entrance into price discovery.
Even though the overall crypto market is doing well, meme coins are having a hard time attracting enough buyers. Because of this, the top meme coins are seeing stronger selling pressure near key price levels. Interestingly, both Dogecoin and Shiba Inu have recently made multiple higher lows, suggesting that might be due for a short-term drop.
Memecoins Struggle Despite a Surge in OI
Despite a strong surge in open interest, the price of Dogecoin and Shiba Inu continue to struggle. Dogecoin’s futures open interest has gone up by 78% in the past seven days. This increase happened even though Bitcoin’s price has dropped a lot from its recent peak. Because of this, the total value of open Dogecoin futures positions rose from $1.7 billion to $3.03 billion.
On the other hand, Shiba Inu’s open interest jumped by more than 61% over the past week, climbing from $152 million to over $246 million. However, despite the sharp rise in open interest for both SHIB and DOGE, this hasn’t led to a strong price rebound on the charts.
Dogecoin Price Analysis
Dogecoin price is forming multiple higher highs around $0.25 level. However, sellers continue to dominate a surge on the price chart, keeping the price around support channels. As of writing, DOGE price trades at $0.2336, declining over 2.1% in the last 24 hours.
The rally is now hitting selling pressure around $0.25, which might lead to a pullback toward the $0.21 level. If the price bounces back strongly from $0.21, it would show that traders are now more willing to buy on dips instead of selling into rallies, raising the chances of a move up to $0.265. A successful move above that level might send the price toward $0.32.
To stop this upward momentum, sellers would need to push the price below the 20-day EMA (currently at $0.231). If that happens, DOGE/USDT might head toward $0.2.
Right now, the price has started to dip from $0.26, with the next support levels at $0.22 and $0.21. If the price finds support and bounces from this zone, it would suggest buyers are stepping in at lower levels. In that case, the bulls may try to drive the price above $0.26 again.
Shiba Inu Price Analysis
SHIB price is facing bearish correction below the $0.000017 level. Buyers are holding the price above EMA20 trend line but might soon face selling pressure. Currently, SHIB price trades at $0.0000158, declining over 2.2% in the last 24 hours.
This rally has pushed the RSI toward 51 level, meaning an equal domination from both side traders. If SHIB holds above the immediate support of $0.00001475, we might see another retest of the $0.000017 level. A push above this level could send Shiba Inu toward $0.000019.
However, this bullish outlook could fade if the price drops below $0.00001475. A drop below this might consolidate SHIB price around $0.00001225.
The post Dogecoin and Shiba Inu Teeter on Edge of Bearish Reversal: What’s Next for SHIB and DOGE Prices? appeared first on Coinpedia Fintech News
Even though the overall crypto market is doing well, meme coins are having a hard time attracting enough buyers. Because of this, the top meme coins are seeing stronger selling pressure near key price levels. Interestingly, both Dogecoin and Shiba Inu have recently made multiple higher lows, suggesting that might be due for a short-term …
dYdX, the leading decentralized trading platform, today announced its integration with Crypto.com’s Onchain app, Crypto.com’s non-custodial digital asset wallet, enabling seamless access to sophisticated trading features directly within the mobile experience.
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Speculation about Nvidia adding Bitcoin to its treasury reserves has surfaced recently. These unconfirmed reports lead to questions about the potential for increased institutional adoption of Bitcoin and the possible performance of such a move for Nvidia, whose stock value has fallen considerably this year.
BeInCrypto interviewed representatives from Banxe, FINEQIA, CoinShares, Bitunix, and Acre BTC to discuss Bitcoin’s potential benefits for Nvidia and explore whether such an investment would ultimately benefit the company in the long run.
Rumors of Nvidia’s Potential Bitcoin Investment
Over the past few weeks, several reports have surfaced across social media suggesting that Nvidia, a pioneer in GPU-accelerated computing, is considering adding Bitcoin to its balance sheet.
These reports remain purely speculative at the time of press, given that Nvidia has not made any official statements on the topic. When BeInCrypto reached out for clarification, an Nvidia spokesperson declined to comment.
Even as rumors, these reports highlight the significant impact of such a decision on Bitcoin’s public perception. Given Nvidia’s current economic circumstances, marked by a substantial drop in stock value, an announcement of this nature would not be completely unexpected.
As such, Nvidia’s stock price has taken a hit. According to recent reports, Nvidia stock has fallen 35% since its latest price peak in January.
Nvidia’s stock reacted especially poorly to the news that China’s Huawei Technologies is testing a new AI chip potentially more powerful than Nvidia’s H100.
Given these circumstances, Nvidia can mitigate current economic challenges by diversifying its treasury assets.
Should Nvidia Consider Adding Bitcoin to Its Balance Sheet?
Such a move would significantly alter how other institutional investors view Bitcoin, potentially encouraging more companies to adopt a similar strategy. The crypto community would likely celebrate the news, believing it would solidify Bitcoin’s legitimacy as an asset class.
However, the extent to which Nvidia requires Bitcoin for stability remains controversial.
Risks of Adding Bitcoin to Nvidia’s Treasury
As it is, Nvidia already has other strategies that help the company hedge against volatility and inflation. Adding Bitcoin into the mix may seem excessive.
This becomes especially true when considering just how volatile Bitcoin itself can be. Though the asset can generate significant gains during bullish periods, the losses it can cause are equally severe.
As such, Bitcoin might not be the natural choice to defend Nvidia from its current stock declines. An investment of this kind would need to reflect a long-term strategy rather than an impulse decision.
Would BTC Even Make a Difference on Nvidia’s Share Price?
Bitcoin has demonstrated high returns over the long term, though with considerable volatility. For companies able to withstand the associated risks, including large price fluctuations, it offers the potential for significant future profits.
With its substantial financial resources, Nvidia could absorb Bitcoin’s volatility without a major impact on its balance sheet. In this sense, the company has little to lose, but also little to gain.
Ultimately, Nvidia’s decision to invest in Bitcoin hinges on timing and urgency, particularly given recent developments that have alleviated some pressures on the company.
Easing Export Restrictions: A Boost for Nvidia
Last week, the Trump administration announced its plans to roll back certain Biden-era export restrictions on advanced semiconductor chips.
Biden’s ‘AI Diffusion Rule’ established these restrictions to enhance US technological leadership by preventing advanced chips from being diverted to countries of concern, especially China. Given that China was Nvidia’s main buyer, the rule significantly hampered its sales.
A rollback would be highly advantageous for Nvidia’s sales, especially amid this new wave of chipmakers.
Similarly, the recent US-China tariff pause led to Nvidia’s stock price rise. Despite its temporary nature, the news is a positive sign for the company, promising reduced uncertainty and potential gains in sales and supply chain stability.
Considering these developments, adding Bitcoin to Nvidia’s balance sheet may no longer be urgent. If Nvidia were to make such a decision out of haste, it might also drive away traditional investors and long-time buyers.
Many areas of traditional finance remain highly skeptical of Bitcoin due to its short history and highly volatile nature. If Nvidia adds Bitcoin as a treasury asset, traditional investors might view it as a poor decision, potentially alienating long-time clients.
