It was a relatively subdued week for crypto markets, marked by compressed trading ranges and cautious sentiment. Most major assets remained range-bound as investors adopted a wait-and-see approach ahead of the anticipated July 9 deadline for Trump’s proposed trade tariffs. However, overnight news that the tariff decision has been delayed until August 1 provided a modest boost to risk appetite, potentially offering markets a few more weeks of breathing room.
Trading activity was further dampened by reduced liquidity heading into the July 4 holiday in the U.S. Nonetheless, institutional demand remained firm. Spot Bitcoin ETFs recorded their strongest daily inflow in over a month on Thursday, indicating that investors continue to allocate capital despite the uncertain macro backdrop.
Ethereum followed a similar path, rebounding midweek after an early dip and ultimately outperforming Bitcoin. ETH ETFs attracted robust inflows, reinforcing the trend of increasing institutional interest across both majors.
While the broader market remained largely in consolidation mode, a select group of memecoins broke out. The Bonk ecosystem led the charge, with tokens like BONK and USELESS posting outsized gains and capturing attention amid a relatively muted backdrop.
Bitcoin (BTC) began the week on the back foot, briefly retesting the US$105,500 support level before bouncing strongly on Tuesday. The rally pushed BTC toward US$110,000 midweek, just shy of its all-time high. However, bullish momentum faded on Thursday after a hotter-than-expected US jobs report dampened expectations for a July rate cut. BTC finished the week up +0.81%, with weekend trading largely muted amid reduced U.S. market participation.
On the institutional front, U.S. spot Bitcoin ETFs recorded their largest single-day inflows in over a month. According to Farside data, Thursday saw US$601.8 million flow into Bitcoin ETFs, led by BlackRock’s IBIT and Fidelity’s FBTC. The inflows mark the strongest daily total since June 24 and suggest that investors are positioning ahead of potential macro shifts tied to Trump’s upcoming tax and spending package.
Ethereum (ETH) followed a similar early-week decline, retesting the US$2,400 support level before rebounding midweek to challenge US$2,600 resistance. Like BTC, it pulled back on Thursday following U.S. jobs data news but staged a solid recovery over the weekend to close the week up +2.87%, outperforming BTC.
Institutional interest in Ethereum continues to grow. Spot ETH ETFs recorded net inflows of 76,892 ETH this week, worth US$194.54 million. BlackRock’s iShares Ethereum Trust led with 32,987 ETH (US$83.46 million), while Grayscale’s Mini Trust added 3,105 ETH. Across all spot ETFs, more than US$4.57 billion in ETH is now held, underscoring Ethereum’s rising profile among institutional investors.
In corporate news, BitMine announced a US$250 million private placement to accumulate ETH as its primary treasury asset, spearheaded by newly appointed chairman Tom Lee. Lee has publicly positioned BitMine to become the “MicroStrategy of ETH.” Meanwhile, Sharplink Gaming became the first publicly listed firm to formally adopt ETH as its treasury reserve, disclosing holdings of 198,478 ETH, valued at over US$500 million.
Major altcoins delivered mixed results, with relatively modest price action across the board. Solana (SOL) dipped -0.95% despite strong onchain activity and ecosystem news. Dogecoin (DOGE) rose +1.49%, while XRP (XRP) gained +2.94% on steady interest and broader market support. Cardano (ADA) and Tron (TRX) posted gains of +1.47% and +3.57% respectively, extending their upward trend from the previous week.
Here are a few key stories you may have missed:
Key upcoming events to watch:
Thanks for reading this week’s Market Pulse. We’ll be back next week with more insights from the crypto markets!
Disclaimer: This article and its contents are intended for informational purposes only, and do not constitute financial, investment, trading or any other advice from TWMT Pty Ltd, trading as Coinstash AU ("Coinstash"). Coinstash is not a licensed financial advisor and does not provide financial advice. You should not make any decision, financial, investment, trading or otherwise, based on any of the information presented in this webinar or relevant materials without undertaking independent due diligence and consultation with a professional financial adviser. The information presented in this article may be inaccurate and no representations are made as to its truthfulness or accuracy. The views and opinions expressed in the quoted material are those of the original authors and do not necessarily reflect the views of Coinstash. All quotes have been used for informational purposes and have been attributed to their respective sources to the best of our ability.You understand that you are using any and all information available in or through this webinar or relevant materials at your own risk. Cryptocurrency is a highly volatile and risky investment. You should consider seeking financial, legal, tax or other professional advice to check how the information relates to your unique circumstances. Coinstash shall not be held responsible or liable for any losses, whether due to negligence or otherwise, stemming from the use of, or reliance upon, the information provided directly or indirectly in this article.
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