BTC Consolidates near $119K

Bitcoin (BTC) traded steadily around $119,000 on Wednesday, consolidating recent gains after June U.S. CPI data pointed to continued disinflation.

Despite the GENIUS Act failing a procedural vote in Congress — leading to a drop in some crypto-related stocks BTC resilience reflects growing trader optimism. Lawmakers are expected to revise the bill and bring it back for another vote.

BTC recently rallied to $123,000, fueled by strong ETF inflows and corporate adoption. In a notable development, financial services firm Cantor Fitzgerald announced plans to acquire $3.5 billion worth of Bitcoin from Blockstream Capital (founded by Adam Back) to launch a new venture holding BTC as a strategic asset.

Ethereum (ETH) continues to gain ground, trading above $3,150, up 6.5%. This outperformance is partly driven by expectations that the GENIUS Act may ban yield-bearing stablecoins, according to Markus Thielen of 10x Research — potentially increasing demand for ETH-based alternatives.

A July 16 report from Matrixport notes that nearly all of ETH’s recent gains are coming from Asia-based traders. Of the 20% ETH price increase over the past month, 17% occurred during Asian market hours, highlighting regional momentum.

ETH uptrend is also supported by rising demand for U.S.-listed spot ETH ETFs, which saw over $450 million in inflows last week. Growing institutional interest has further fueled the rally, with multiple firms declaring ETH as a viable treasury asset.

Institutional Ethereum Bets Ramp Up

In the past few days:

SharpLink Gaming invested $213 million in ETH.

Bit Digital (Nasdaq-listed) and Bitmine (crypto mining firm) together added nearly $500 million in ETH holdings.

The total Real World Asset (RWA) value tokenized on Ethereum has now exceeded $5 billion.

Spot Bitcoin ETFs recorded their ninth consecutive day of net inflows, with $403 million added on Tuesday.

Spot Ethereum ETFs also saw $192 million in inflows, marking their eighth straight positive session.

A newly launched staked SOL ETF posted a modest $3.3 million in inflows.

Altcoins Maintain Momentum

Altcoins are broadly higher in today’s session:

SOL, DOGE, LINK, SHIB, TON, and LTC: Up 4–5%

XRP: Trading near $2.92, showing consistent interest

BNB: Holding at $688

TRX: Flat at approximately $0.03

Outlook: Market Resilience Holds Firm

The current bull cycle remains intact with room for further upside in H2 2025. Overall, the momentum suggests a continued decoupling from traditional macro pressures as crypto pushes forward into new territory.

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