The total crypto market cap fell approximately 6–7%, dipping from $4.1T to around $3.8T as tariff tensions and macroeconomic concerns spurred widespread sell‑offs. Bitcoin declined to roughly $115K, while Ethereum slid 4% to Ⱡ$3,700, and Solana, XRP, and Cardano also saw losses of 4–5%
Bitcoin posted its highest-ever monthly close at $115,644 on July 31, even though it experienced a 2% intraday drop The Block.
Notably, $600M+ in long positions were liquidated amid the volatility as BTC briefly touched $115,200
U.S. Policy Shifts: Crypto from Regulation to Innovation
The newly proposed GENIUS Act is signed into law, setting the first comprehensive regulation for U.S. stablecoins—mandating 1:1 backing, transparency, and dual federal-state oversight MarketWatch+3Wikipedia+3Axios+3.
The Trump administration unveiled Project Crypto, a regulatory overhaul aimed at streamlining digital-asset markets, enabling DeFi integration, and fostering tokenization in mainstream finance.
The White House’s Working Group issued a wide-ranging 160-page Digital Asset Report, while the Genius Act’s framework is still pending full rulemaking and public consultation Axios.
Meanwhile, the nomination of Brian Quintenz to lead the CFTC faces mounting criticism over ethical concerns and conflicting interests, including an unsolicited visit to Gemini’s office and trade board involvement
Syz Capital announced plans to raise over $200M in Bitcoin for its crypto fund — reflecting rising institutional appetite for long-term BTC exposure FNLondon.
Pakistan: Crypto Regulation Takes Center Stage
On July 8, 2025, the government formed the Pakistan Virtual Assets Regulatory Authority (PVARA) under the Virtual Assets Ordinance to license and supervise virtual asset service providers Reuters+4Wikipedia+4Wikipedia+4.
The Pakistan Crypto Council (PCC), led by Bilal Bin Saqib as CEO and adviser Changpeng Zhao, is accelerating mainstream adoption—targeting integration of crypto into banking, forex, and gold trades
Pakistan is also piloting a CBDC initiative, and planning to allocate 2,000 MW of surplus energy to Bitcoin mining and AI data-center operations—marking a strategic pivot toward crypto infrastructure
🚨 Altcoin Spotlight: XRP Sees Deep Dip
XRP saw an 8% drop over the past 24 hours, trading down from $3.17 to around $2.94. A spike in volume and 259M tokens traded in one hour point to heavy intraday selling pressure, though institutional buyers stepped in to stabilize near $2.98 support CoinDesk.
🧭 What It Means
The short-term crypto market is bearish, dominated by macro risks and regulatory news.
However, strategic regulation in the U.S., combined with Pakistan's regulatory shift, could fuel long-term structural growth in crypto markets.
Vigilance is key—market participants should watch for policy catalysts, especially in stablecoin and DeFi regulations.
