What to Know
- DonAlt identified $61,000 as Bitcoin’s decisive support, arguing the monthly close will determine whether bullish momentum remains intact.
- Bitcoin holding above $61,000 could strengthen XRP and altcoins, while a breakdown may expose the market to deeper losses broadly.
- Federal Reserve policy decisions and Jerome Powell’s remarks could reinforce Bitcoin’s technical outlook while influencing cryptocurrency market sentiment significantly.
Bitcoin trader DonAlt, whose XRP market outlook preceded the token’s 700% rally in 2024 and 2025, has identified $61,000 as the level that could determine Bitcoin’s next major move. According to the analyst, Bitcoin’s monthly close will carry greater significance than recent daily price swings because it will reveal whether buyers still control the broader trend.
Bitcoin has traded between $62,500 and $63,500 while recovering from June’s prolonged decline. However, according to DonAlt, traders should focus on the monthly candle close instead of intraday volatility because it will provide a clearer signal for the market’s medium-term direction.
A monthly close above $61,000 would reinforce Bitcoin’s bullish structure. Moreover, a stronger finish above that level would indicate that buyers have successfully defended an important support zone. Consequently, the recent consolidation could become the base for another sustained advance rather than a temporary rebound.
Also Read: Institutional Clients Are Scooping Millions Worth of XRP ETFs – Here Are the Latest Figures
Bitcoin’s $61,000 Support Holds the Key for XRP and Altcoins
According to DonAlt, the outlook changes if Bitcoin closes the month at or below $61,000. Under that scenario, the recent recovery would represent only a temporary bounce before another wave of selling pressure emerges. As a result, Bitcoin could revisit the major support region near $45,000, which has served as a significant historical price level.
The implications extend beyond Bitcoin because its price action often influences the broader cryptocurrency market. XRP has frequently delivered stronger performance when Bitcoin remains stable or trends higher over an extended period. Therefore, maintaining support above $61,000 could improve conditions for XRP and other major altcoins.
Additionally, Bitcoin trading within a stable range may encourage capital to rotate into alternative cryptocurrencies. That environment could help XRP strengthen its position near current levels while supporting broader market confidence. Conversely, a decline toward $45,000 would likely pressure XRP and interrupt its recent consolidation.
Another important factor remains the Federal Reserve meeting scheduled for July 28 and July 29. Investors will closely monitor the interest rate decision and remarks from Federal Reserve Chair Jerome Powell because they often influence risk assets, including cryptocurrencies.
Federal Reserve Decision Adds Another Layer of Uncertainty
Besides the technical outlook, macroeconomic developments could shape Bitcoin’s next move. A favorable policy signal may strengthen market sentiment and reinforce the importance of the $61,000 support level. However, a cautious message from the Federal Reserve could increase selling pressure and weaken confidence across the digital asset market.
According to DonAlt, Bitcoin’s monthly close above or below $61,000 will determine whether the market preserves its bullish structure or enters a deeper correction. That outcome could also influence XRP and the broader altcoin market as investors evaluate both technical signals and macroeconomic developments.
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