📌 Crypto Market Today – August 1, 2025
Bitcoin and major altcoins dropped sharply, with BTC sliding below $115,200, triggered by new U.S. tariffs and widespread profit-taking. The sell-off wiped out roughly 4% of crypto market cap, with Ethereum, Solana, and Dogecoin each posting declines of up to 8–9% .
In Hong Kong, fintech firms including OSL Group, Dmall, and SenseTime collectively raised over $1.5 billion in equity to dive into crypto, stablecoins, and blockchain payments—driven by the city’s new licensing regime effective August 1 .
Indonesia also implemented new crypto tax rules today. Domestic trades are now taxed at 0.21% (up from 0.1%), while foreign exchange trades face a 1% fee (up from 0.2%). VAT on mining doubled to 2.2%, with income tax to be realigned under standard rates in 2026 .
The U.S. SEC launched “Project Crypto,” shifting from strict regulation to a pro-innovation posture. The initiative aims to clarify token classifications—securities, commodities, or stablecoins—streamline ICO processes, and support tokenized securities markets under federal oversight .
Crypto-aligned politics are reshaping policy momentum: Significant donations from industry players fueled Trump’s Super PAC, while some Democrats are now backing major crypto legislation like the Genius Act and the upcoming Clarity Act in a bid to reclaim tech-sector support .
On-chain, Ethereum continues outperforming Bitcoin, with a 54% July gain versus BTC’s 10%. The surge is driven by stablecoin demand under the new Genie Act, institutional ETH ETFs from BlackRock and others, and treasury accumulation—though analysts caution rally sustainability
