Market Updates
Bitcoin (BTC): Bullish Consolidation Continues Bitcoin traded between $117,300 and $118,345 today, consolidating after briefly touching $122,000–$123,251 earlier this week.
Analysts suggest the upside potential remains strong, with targets near $150,000 if the GENIUS Act passes. The Fear and Greed Index reflects “Greed” at 70, signaling sustained optimism.
Tether (USDT) Phases Out Legacy Blockchains Tether announced the discontinuation of USDT on five blockchains including Algorand and Omni, streamlining operations to focus on higher-utility networks.
USDT maintains its position as the dominant stablecoin by market capitalization.
Circle and OKX Partner for USDC Liquidity Boost Circle’s collaboration with OKX will enable direct dollar ramps for USDC, enhancing accessibility for over 60 million exchange users.
This move strengthens USDC’s role in institutional and retail liquidity pools.
Altcoin Roundup: BNB, SOL, ADA Show Strength
BNB ranged between $693–$720, buoyed by Binance ecosystem expansions. Solana (SOL) held $163.66–$171.76 with resistance expected at $178.
Cardano (ADA) predictions vary widely ($0.737–$1.88) amid bullish technicals. Dogecoin (DOGE) surged past $0.20, eyeing $0.25–$0.30 targets.
On-Chain Insights
Glassnode reports Bitcoin institutional transactions now comprise 89% of on-chain value, coinciding with its $122.6K ATH. IntoTheBlock notes Ethereum’s robust support between $2,238–$2,572.
Breaking News
GENIUS Act Vote: The US House will vote on crypto legislation today, potentially reshaping regulatory frameworks.
BigONE Hack: The exchange lost $27M in a supply chain attack on July 16. ETF Inflows: Bitcoin spot ETFs recorded $297.4 in inflows over eight consecutive days.
