A bittersweet week leaves crypto majors glued to resistance even as on-chain and ETF data scream accumulation. Here’s your all-in-one market pulse through 20 July 2025—complete with the biggest Binance catalysts now live.
Market snapshot 📈
Bitcoin refused to surrender the spotlight, cycling between $116 600 – $118 800 for five straight sessions and settling around $117 800 USDT. Ether clung to $3 600 USDT after a record $727 m single-day spot-ETF inflow on 17 July. Total crypto cap trimmed 1.5 % day-on-day to $3.87 trn, while traders briefly parked profits in dollar-pegged stables that hit fresh supply highs.
ETF hunger vs. sticky CPI ⚖️
Two consecutive $1 bn+ inflow days into U.S. spot-BTC ETFs powered a $2.7 bn weekly haul—the biggest since launch. BlackRock’s IBIT and Fidelity’s FBTC captured over 60 % of July subscriptions.
Yet June U.S. CPI crept to 2.7 % y/y and Dallas Fed chief Lorie Logan warned policy rates may stay high “for a while,” nudging the dollar index to 98.5 and capping BTC below the psychological $120 K lid.
Derivatives & on-chain tells 🔍
Open interest is still camped near its all-time high at $27 bn, but perpetual funding slid to a neutral +0.005 %/8 h after last Tuesday’s $1 bn short-squeeze purge. Glassnode tracks -14 600 BTC net exchange outflows in seven days, and Realised Cap just printed a record $900 bn—evidence that fresh capital is soaking up every dip.
Washington turns (finally) crypto-friendly 🏛️
The House advanced a sweeping market-structure bill handing primary spot oversight to the CFTC, while the bipartisan GENIUS Act on stablecoin reserves awaits a fast-tracked Senate vote. Regulatory fog is thinning at the very moment institutional inflows reach escape velocity.
Binance in focus 🔔
Spot Altcoin Trading Festival – Wave 2 (18 → 24 Jul) dangles $450 000 USDC to anyone clearing $1 000 net volume on 90+ alt pairs.
Stablecoin Resurge (18 → 31 Jul) pushes flexible yields to 13.3 % APR on USDT, FDUSD, XUSD—double the wider CeFi market.
Yooldo Games ($ESPORTS) landed on Binance Alpha 19 Jul; stack Alpha Points now before the airdrop window opens.
LiquidityBoost maker rebates of –0.005 % / –0.010 % keep spreads tight on 95 alt pairs, feeding both Festival and day-trader demand.
What to watch this week ⏳
Funding-rate flips—persistent negatives would mark bearish leverage returning.
PPI & triple-header Fed speeches (Thu) for another dollar jolt.
ETF flow tables on Monday: third straight $1 bn+ day could finally shove BTC through $120 700.
Possible Wave 3 of the Altcoin Festival in early August, dovetailing Binance’s 7-year anniversary.
Bottom line 📝
ETF bid, long-term holders and fresh legislative clarity have built rock-solid flooring under Bitcoin. The only missing ingredient is a macro “green light” that cools inflation fears and turns leveraged traders bullish again. A decisive daily close above $120 700 opens the runway to the $123 K ATH zone; lose $113 700 (200-DMA) and we revisit early-June lows. Stay nimble and let the tape prove itself.
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DYOR – NFA
