Crypto Weekly (15/07 – 21/07): BTC Rebounds, Bitcoin ETFs See Continuous Inflows

Crypto Market Highlights of the Past Week

After weeks of pressure from negative news (FUD) spread by financial “whales,” Bitcoin made an impressive comeback in the third week of July. The leading cryptocurrency surged from $60,900 to $68,000, marking a 10% increase. This is seen as an extremely positive signal after a period dominated by bad news.

The primary driver for this increase came from the strong buying activity of Bitcoin ETF investment funds. In just the past 7 days, the capital inflow into the market for buying Bitcoin reached an astonishing $1.2 billion.

Bitcoin’s recovery has created a domino effect, leading to the growth of altcoins. However, it is noteworthy that investment funds seem to be prioritizing memecoins over blockchain projects with real technological potential. This trend indicates that speculative sentiment still dominates the current cryptocurrency market.

BTC Chart

Top 10 Gainers of the Week

Source: Coinmarketcap

Top 10 Losers of the Week

Source: Coinmarketcap

Important News of the Week

• Binance Launches Optimism-Powered Layer-2 Network
• Li.Fi Protocol Hacked, Resulting in $10 Million Loss
• Donald Trump Looks to Release His Fourth NFT Collection

Token Unlocks This Week

Next week, ALT, YGG, and ENA will unlock a significant number of tokens, with corresponding values of $110 million, $7.5 million, and $7.2 million.

Key Macro Events This Week

The upcoming week promises several noteworthy events in the financial and cryptocurrency markets:

• July 23 (Tuesday): The Ethereum ETF Spot officially launches. This is considered a significant milestone for the Ethereum community and could greatly impact the value of this cryptocurrency.
• July 25 (Thursday): A day full of volatility:
  • Release of unemployment claims data.
  • Bitcoin Conference featuring former President Donald Trump. This event could spark lively discussions and influence market sentiment.
  • Release of Gross Domestic Product (GDP) data.

Don’t forget to follow us for the latest hot news in the crypto market!