Another important, volatile, and eventful week passed by. It had traders and investors looking out for the latest Federal Reserve meeting, which took place a few days ago.
But before it, bitcoin’s price had recovered from last week’s plunge below $115,000 on Friday and had returned to its familiar trading range between $117,000 and $119,000. The asset traded between those two lines for days ahead of the Wednesday FOMC meeting, with little to no volatility and success when it comes to breaching either side.
Hours before the central bank announced its policy decision, the US GDP report for Q2 went out, which was better than expected, showing a significant economic increase of 3%. US President Trump immediately used this opportunity to urge Fed Chair Jerome Powell to cut the rates, but to no avail.
To the surprise of almost no one, the US central bank left the rates unchanged for the fifth consecutive time. BTC’s price reaction was immediate as the asset slipped from nearly $119,000 to under $116,000. However, it managed to recover the losses by Thursday when it neared the upper boundary of this channel once again.
Nevertheless, the bears were persistent, and, after getting some assistance from Trump’s latest set of tariffs against numerous countries, rejected bitcoin at that level. Within hours, the cryptocurrency’s price tumbled to a three-week low of $114,000, charted earlier today.
Still, BTC managed to mark its highest monthly closure at roughly $115,000 yesterday evening, even though it’s 2.5% down on the week. The altcoins, though, have charted even more notable price declines compared to last Friday’s valuations. ETH and XRP have slumped by 5% each, while SOL, DOGE, ADA, HYPE, XLM, SUI, LINK, HBAR, and many others have seen losses of up to 10%.
Market Data
Market Cap: $3.83T | 24H Vol: $180B | BTC Dominance: 60%
BTC: $115,350 (-2.5%) | ETH: $3,646 (-4.8%) | XRP: $2.98 (-4.8%)
This Week’s Crypto Headlines You Can’t Miss
Trump Administration Unveils Crypto Strategy But Omits Bitcoin (BTC) Reserve Plan. Another major news that came out earlier this week was the long-anticipated Digital Asset report from the US White House. Interestingly, it mentioned different industry initiatives like stablecoins and DeFi, but failed to provide any details about the country’s strategic Bitcoin reserve.
Ethereum Turns 10: What Will Define the Next Decade? It’s a week for anniversaries in the cryptocurrency space, with Shiba Inu and Ethereum standing out for their fifth and tenth birthdays, respectively. Here are some of Ethereum’s massive achievements since 2015 and what might lie ahead.
Ethereum ETF Inflows Soar in July, Outpacing Last 11 Months Combined. Speaking of Ethereum, its underlying asset has been on fire for the past few months, driven to a large extent by the substantial inflows into the spot ETH ETFs. In fact, July saw more net inflows into those financial vehicles than the previous 11 months combined.
Strategy Tops IPO Charts in 2025 With $2.52B Raise—More Bitcoin Bought. Although it didn’t announce a bitcoin purchase on Monday, as usual, the Saylor-spearheaded company held an IPO for 28 million shares for STRC and raised over $2.5 billion. Naturally, it used a large portion of this stash to accumulate 21,021 BTC.
Bitcoin Whales Seize 68% of Supply After Adding 218,570 BTC. Reports emerged after BTC’s latest correction that retail investors had begun offloading sizeable portions of the asset. At the same time, though, whales have been on a buying spree and now hold 68% of the cryptocurrency’s supply.
Altseason in Full Swing? These CryptoQuant Charts Point to Yes. Whether or not this cycle will go through an altseason continues to be a heated discussion within the community. According to CryptoQuant, this relatively short period has already begun as the analytics company outlined several factors proving its point.
Charts
This week, we have a chart analysis of Ethereum, Ripple, Cardano, Solana, and HYPE – click here for the complete price analysis.
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Cryptocurrency charts by TradingView.
