Dubai, United Arab Emirates – August 04, 2025: Bitcoin ended July with a record monthly close of $116,480, driven by continued institutional interest, particularly from spot exchange-traded funds (ETFs) and corporates treating bitcoin as a strategic reserve asset.
Despite a modest pullback of 7% from its recent all-time high of $123,200, bitcoin remains in a clear uptrend, forming higher highs and higher lows. At the time of writing, BTC is trading at $114,680, having bounced after
briefly testing support at $112,000, the previous record high.
“We remain in bullish territory. Should the $112,000 level hold as support, it could form the base for bitcoin’s next leg higher,” said Simon Peters, Crypto Market Analyst at eToro.
Ethereum also marked a milestone last week, celebrating the 10th anniversary since its mainnet launch — a decade of smart contracts, decentralised applications, and blockchain innovation.
Meanwhile, altcoins retreated in recent days, with the total market capitalisation excluding bitcoin falling by $115 billion, down 7.5% from its recent peak. Memecoins led the pullback, recording double-digit losses. However, this decline may present a buy-the-dip opportunity for speculative investors.
On the institutional front, spot bitcoin ETFs posted their longest-ever inflow streak, reflecting growing appetite for crypto exposure in traditional portfolios.
Looking ahead, macroeconomic data is expected to be light next week. However, market participants may remain cautious amid trade tensions.
“There may be some choppiness as traders digest the impact of President Trump’s reciprocal tariffs, due to take effect on 7 August for countries that haven’t signed new trade deals with the US,” added Peters. “The implications of these tariffs on global markets are still unfolding.”
BIGGEST MOVERS
Memecoins were the biggest fallers last week, seeing double digit losses amidst the broader slip in cryptoasset prices. $BONK and $FARTCOIN are the largest, down 22% and 30% respectively.
$IP bucked the trend and was up 12% last week on news that Grayscale, the world’s largest digital asset-focused investment platform, will be launching the Grayscale Story Trust, which will provide accredited investors exposure to IP, the native token of the Story network.
Discover more here: https://www.etoro.com/discover/markets/cryptocurrencies/market-movers
EYE-CATCHING STORIES
Ethereum turns ten
Ethereum marked its ten-year anniversary last week. The mainnet first went live on 30th July 2015.
Over the past decade Ethereum has become the main blockchain for decentralised finance, stablecoins and NFT (non-fungible token) collections, and has over $80 billion in total value locked at the time of writing.
The ethereum price has seen a 560,000% increase in that time, although today it is still 35% away from its $4,870 all-time high seen in November 2021.
Looking ahead, if we do see an altseason, ethereum could be one of the main beneficiaries, particularly with the United States push for crypto regulation potentially becoming the network of choice for institutional DeFi and continued network developments aimed at enhancing security and scalability.
Ethereum spot ETFs set record net inflows streak
US spot Ethereum ETFs reported their twentieth consecutive day of net inflows on Thursday last week, marking the longest positive inflows streak since their launch 12 months ago. The run started on 3rd July when the US House Committee on Financial Services announced ‘Crypto Week’.
July has by far been the best-performing month for the Ethereum spot ETFs in terms of inflows, with over $5.43 billion going in. The previous best-performing month was December 2024, which saw $2.08 billion of inflows.
With the record streak of net inflows, the US Ethereum spot ETFs currently hold $21.52 billion worth of Ethereum, 4.77% of the total ethereum market capitalisation.
The ethereum cryptoasset price at that time has risen from $2500 to $3950, a 55% gain, helped by the spot ETF inflows and well as a growing list of publicly listed companies now adopting Ethereum treasury strategies.
Contacts:
About eToro
eToro is the trading and investing platform that empowers you to invest, share and learn. We were founded in 2007 with the vision of a world where everyone can trade and invest in a simple and transparent way. Today we have over 38 million registered users from 75 countries. We believe there is power in shared knowledge and that we can become more successful by investing together. So we’ve created a collaborative investment community designed to provide you with the tools you need to grow your knowledge and wealth. On eToro, you can hold a range of traditional and innovative assets and choose how you invest: trade directly, invest in a portfolio, or copy other investors. You can visit our media centre here for our latest news.
Disclaimer
eToro (ME) Limited, is licensed and regulated by the Abu Dhabi Global Market (“ADGM”)’s Financial Services Regulatory Authority (“FSRA“) as an Authorised Person to conduct the Regulated Activities of (a) Dealing in Investments as Principal (Matched), (b) Arranging Deals in Investments, (c) Providing Custody, (d) Arranging Custody and (e) Managing Assets (under Financial Services Permission Number 220073) under the Financial Services and Market Regulations 2015 (“FSMR”). Its registered office and its principal place of business is at Office 207 and 208, 15th Floor Floor, Al Sarab Tower, ADGM Square, Al Maryah Island, Abu Dhabi, United Arab Emirates (“UAE”)
This article was originally published as Bitcoin sets a record monthly close in July, Ethereum turns ten on Crypto Breaking News – your trusted source for crypto news, Bitcoin news, and blockchain updates.
