On July 30, 2026, the cryptocurrency market saw a broad stabilization after several days of volatility. Bitcoin (BTC) consolidated narrowly around $152,000, Ethereum (ETH) edged back to the $48,000 level, while Layer1 tokens like Solana (SOL) and Avalanche (AVAX) performed strongly, with SOL breaking $200 to set an all-time high, boosting sentiment across the altcoin market.

Bitcoin: $150K Level Holds, Inflows Slow Marginally

As of press time, Bitcoin is trading at $152,340, up 0.8% in 24 hours. Although it has pulled back from the $162,000 high hit last week, the price remains within a narrow range above the $150,000 psychological level. Market analysis suggests that the slowdown in Bitcoin ETF inflows is the main reason for recent price pressure, but long-term institutional holders are still accumulating, and Bitcoin balances on exchanges like Coinbase continue to decline, indicating tightening supply.

Thailand's Securities and Exchange Commission (SEC) today announced approval of the country's first spot Bitcoin ETF, which will list on the Stock Exchange of Thailand (SET) with an initial size of approximately $500 million. This move is seen as a major shift in Southeast Asian regulators' stance toward digital assets, helping attract local and regional investors. Analysts point out that as the economic hub of Southeast Asia, Thailand's ETF approval may trigger policy follow-ups in neighboring markets such as Japan and South Korea, bringing new incremental capital to Bitcoin.

Ethereum: Awaiting ETF Decision, On-Chain Data Stays Active

Ethereum is trading at $48,120 today, up 1.2% in 24 hours. Market focus is on the upcoming final decision by the U.S. Securities and Exchange Commission (SEC) on a spot Ethereum ETF. According to industry media reports, internal SEC discussions have entered the final stage, with results expected to be announced in early August. If approved, the ETH price could quickly break through the $50,000 level.

On-chain data shows that the total value locked (TVL) in Ethereum Layer2 networks has reached $18 billion, an all-time high, with Arbitrum and Optimism contributing 42% and 28% respectively. NFT market trading volume has rebounded for three consecutive weeks, with the floor price of leading project "Bored Ape Yacht Club" recovering to 120 ETH, demonstrating sustained ecosystem vitality.

Solana Breaks $200: Layer1 Narrative Resurges

Solana was the standout performer today, with SOL touching $204, a new high since 2024, up 8.5% in 24 hours. Contributing factors include:

  • Ecosystem Explosion: DeFi protocol TVL on Solana exceeded $5 billion, with lending platform "Marginfi" and DEX "Jupiter" being the main growth drivers.
  • Institutional Endorsement: JPMorgan's blockchain division announced it would migrate its tokenized securities test to the Solana network, further validating its high-performance potential.
  • Community Activity: The Solana Foundation launched a new round of ecosystem incentive programs, with monthly developer activity growth reaching 15%.

Avalanche (AVAX) also rose 5.3% to $42, benefiting from its subnet ecosystem expansion. Overall, the Layer1 narrative has retaken headlines, with capital spilling from Bitcoin and Ethereum into second-tier public chains, but short-term overheating risks should be noted.

Macro Environment: Fed Sends Dovish Signals, Risk Assets Supported

The Federal Reserve concluded its July meeting yesterday, announcing it would hold interest rates steady and hinting at a possible rate cut in September. The statement removed the phrase "further tightening," which the market interpreted as dovish, sending the U.S. dollar index down to 95.5 and Treasury yields lower. In this context, cryptocurrencies as risk assets gained breathing room, with total crypto market capitalization rebounding to $4.2 trillion, up 1.5% in 24 hours.

The Bank of Thailand also released a digital asset development roadmap today, proposing the establishment of a "regulatory sandbox" to facilitate blockchain innovation while emphasizing investor protection. This move, combined with the Thai SEC's ETF approval, creates a policy synergy that could position Thailand as a Southeast Asian crypto hub.

Outlook: Short-Term Volatility Uptrend, Watch Key Resistance

Technically, Bitcoin's daily MACD shows a golden cross signal, with RSI at 55 in the neutral-to-strong zone. Support is at $148,000, resistance at $160,000. Ethereum has formed a double bottom pattern around $47,000, and breaking $49,000 would open upside. Solana's daily RSI is near overbought territory, potentially pulling back to $190 for consolidation in the short term, but the long-term uptrend remains intact.

Investors should closely monitor the following events:

  • U.S. SEC final decision on Ethereum ETF (expected early August)
  • First-day trading volume of Thailand's Bitcoin ETF
  • Global central bank policy moves (particularly the Bank of Japan's September rate decision)

In summary, the crypto market is gradually recovering from its earlier correction, with Thailand's ETF approval injecting confidence into the Southeast Asian market. Although short-term volatility may persist, both fundamentals and technicals support a medium-term uptrend. Investors should allocate assets rationally, focus on projects with strong fundamentals, and avoid chasing hype.