Crypto Weekly (22/07 – 28/07): Ethereum ETF Starts Trading

The 4th week of July witnessed Bitcoin's movement being quite unpredictable, as BTC dropped at the start of the week but recovered by the weekend.

Ethereum Etf Starts Trading

Crypto Market Update of the Week

The past week has been eventful for the cryptocurrency market, with several positive news driving Bitcoin’s significant rise. Despite a shaky start to the week, where Bitcoin dipped from a high of $68,300 to a low of $63,500, the market became more vibrant towards the weekend. Bitcoin ended the week at $68,800, showing minimal change in price compared to the beginning of the week.

However, while Bitcoin attracted most of the capital flow, other cryptocurrencies struggled, with their prices continuing to plummet.

Notably, Ethereum has now joined the “club” of cryptocurrencies allowed to trade via stock ETFs, following in Bitcoin’s footsteps. However, similar to Bitcoin’s initial ETF days, the Ethereum ETF has seen a wave of capital outflows in its early trading days. This is attributed to investors shifting from Grayscale’s fund to other lower-cost options.

Btc Chart

BTC Chart

Top 10 Gainers of the Week:

Up

Sources: CoinMarketCap

Top 10 Losers of the Week:

Down

Sources: CoinMarketCap

Important News of the Week:

  • Donald Trump speaks at Bitcoin 2024 conference

Token Unlocks This Week:

This week’s token unlocks feature some notable projects: Optimism unlocking $54 million, SUI unlocking $52 million, and Wormhole unlocking $175 million.

Macroeconomic News This Week

Investors should pay attention to three key economic events this week that could impact the U.S. dollar exchange rate:

  • Wednesday (07/31/2024): The U.S. will release the ADP Non-Farm Employment Change report, an important indicator of labor market health. If the actual figures exceed expectations, the USD may strengthen, and vice versa.
  • Thursday (08/01), at 12:30 UTC: Initial Jobless Claims data will be released. This indicator shows short-term employment conditions. If the number of claims is higher than expected, it could signal a negative outlook for the USD, and vice versa.
  • Friday (08/02), at 12:30 UTC: The Non-Farm Payrolls report, one of the most closely watched economic indicators, will be released. Higher-than-expected figures typically support a stronger USD, while lower-than-expected figures could weaken the currency.

Don’t forget to follow us for the latest updates on the crypto market!

(1 vote)

5.0/5

(1 vote)

Latest

Elon Musk Launches Xchat Inspired By Bitcoin

News | Bitcoin | Editor Choice

Elon Musk Launches XChat Inspired by Bitcoin

Elon Musk has just unveiled XChat — a new messaging feature on the X platform that integrates Bitcoin-level encryption and is developed using the Rust programming language, promising to set a new benchmark for security and privacy in digital messaging.

Price Prediction For Pi By The End Of 2025

Pi Network | Editor Choice

Price Prediction for PI by the End of 2025

According to CoinDCX, the price of PI Coin may see an uptrend by the end of this year and could recover to the range of $2 to $2.8.

Notable Token Unlocks In June 2025

Altcoin | Editor Choice

Notable Token Unlocks in June 2025

There is $1 billion worth of tokens set to be unlocked this June, notably including Sui (SUI), Fasttoken (FTN), and LayerZero (ZRO).

Bitcoin Rebounds After Correction, Surpasses $105,000

News | Bitcoin | Editor Choice

Bitcoin Rebounds After Correction, Surpasses $105,000

After a period of correction, Bitcoin has rebounded and surpassed the $105,000 mark, as experts warn of technical divergence signals and key support zones gradually taking shape.

Crypto Trader James Wynn Loses $99 Million In A Week

News | Altcoin | Editor Choice

Crypto Trader James Wynn Loses $99 Million in a Week

Crypto trader James Wynn lost $99 million in just one week due to failed Bitcoin bets, while another trader made $17 million by taking the opposite positions.