Market Overview:
The global cryptocurrency market capitalization stands at approximately $3.43 trillion, with Bitcoin maintaining a dominant position at around 64.8% and Ethereum at 9%. Bitcoin has been trading above $107,000, reaching an intraday high of $108,305 today, while Ethereum is steady above $2,470. Overall, the market is showing mixed trends, with some altcoins gaining and others seeing slight dips.
Top Headlines:
Bitcoin Jumps Past $108K: Bitcoin has seen a significant surge, breaking past $108,000, fueled by optimism stemming from easing geopolitical tensions (specifically the Israel-Iran ceasefire) and a dovish tone from the US Federal Reserve. Analysts are eyeing a potential breakout towards $110,000.
Institutional Interest Surges for Bitcoin and Ethereum:
Bitcoin ETFs have extended their winning streak to 10 days, with significant inflows indicating growing trust and regulatory assurance from institutional investors.
Ethereum Spot ETFs have crossed the $4 billion net inflow mark, with BlackRock and Fidelity leading the charge. This rapid acceleration of institutional interest has seen $1 billion added in just 15 trading days.
Crypto for Mortgages? William Pulte, director of the Federal Housing Finance Agency, has directed Fannie Mae and Freddie Mac to explore the use of cryptocurrency holdings in mortgage qualification, a move that could further boost Bitcoin's momentum and mainstream integration.
Regulatory Developments in the US: A new Senate bill has been introduced aiming to establish clear regulatory guidelines for digital assets, with Senator Cynthia Lummis emphasizing the need for US leadership in global crypto rulemaking.
NYSE Eyes Trump Media Crypto ETF: The New York Stock Exchange is advocating for a rule change to allow the launch of a Bitcoin and Ethereum ETF tied to President Donald Trump's Truth Social, potentially marking another step in Trump's growing involvement in the crypto space.
Institutional DeFi Summer: HTX Research highlights a new "institutional DeFi summer" driven by technological advancements and regulatory easing in
