A huge July!
July saw BTC hit $123K and ETH rally 52% amid ETF inflows and CME activity. Key U.S. crypto laws passed, with the White House report due July 30. Despite an 80K BTC OTC sale, markets stayed firm. Perps surged, while CME sentiment stayed cautious.
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July has been a huge month for crypto, with BTC reaching an all-time high of $123,231 before retracing to the $116–120k range, and ETH rising 52% MTD amid strong ETF inflows and CME activity. The U.S. passed key crypto legislation, including the Genius Act, signed into law on July 18, and the White House Crypto Report is now expected on July 30. Last week’s market was muted following Galaxy’s OTC sale of 80,000 BTC. Looking ahead, Trump’s August 1 tariff deadline, the FOMC meeting, and key U.S. employment data suggest a potentially volatile week for markets.
