Cryptocurrency prices were largely range-bound on Friday, with Bitcoin edging slightly lower amid mixed global market signals and sustained institutional interest.
Bitcoin was trading down 0.6% at $109,066 after hitting an intraday high of $110,541. Ethereum slipped 1% to $2,563, while total crypto market capitalization dipped 0.5% to $3.37 trillion, per CoinMarketCap data.
Despite the modest pullback, analysts remain upbeat, citing strong institutional demand and a constructive technical outlook.
On Thursday, Bitcoin exchange-traded funds saw a notable $601.8 million in inflows—their largest in over a month—highlighting a resurgence in demand for crypto risk assets. The spike comes as investors anticipate more accommodative financial policies following the passage of the Trump administration’s tax bill.
ETFs remain the go-to avenue for institutional exposure, offering regulated access without the complexities of direct crypto custody.
Spot Ether ETFs also drew $148.5 million in net inflows, while the newly launched staked Solana ETF attracted $11.4 million.
Nasdaq-listed Amber International raised $25.5 million via private placement and plans to invest in Ripple (XRP), Binance Coin (BNB), and Sui (SUI), in addition to its existing allocations in Bitcoin (BTC), Ethereum (ETH), and Solana (SOL).
Meanwhile, DeFi Development Corp. added 17,760 SOL to its reserves, bringing its total holdings to 640,585 SOL (valued at $98.1 million, including staking rewards). Still, SOL declined over 2% to around $150.
Chinese chipmaker Nano Labs began executing its plan to acquire up to 10% of BNB’s circulating supply, starting with a $50 million purchase. However, BNB fell 1% to $658 despite the move.
Elsewhere, Ondo Finance and Pantera Capital launched a $250 million fund to boost tokenized real-world asset (RWA) projects. Yet, RWA tokens like LINK, AVAX, XLM, ONDO, and VET dropped 3–5% on the day.
Policy Developments and Legislative Outlook
On the regulatory front, U.S. Senator Cynthia Lummis introduced a draft bill proposing significant crypto tax reforms. It includes a de minimis exemption for capital gains under $300 (capped at $5,000 annually), and seeks tax relief for crypto lending, donations, and deferred taxation on mining and staking rewards until assets are sold.
Additionally, the U.S. House declared July 14 as the start of “Crypto Week,” aimed at advancing major digital asset legislation, including the CLARITY Act, the Anti-CBDC Surveillance State Act, and the GENIUS Act.
Market Outlook
With Bitcoin hovering near $110K and Ethereum gaining ETF momentum, both assets remain pivotal to this summer’s digital asset narrative. Roughly $3 billion in Bitcoin options are set to expire today, potentially anchoring price action near the $106K max pain level. While sentiment is largely positive and technicals remain favorable, declining volume and momentum suggest caution. Traders should monitor key support levels and expiry dynamics to navigate potential volatility and seize short-term opportunities.
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