Bitcoin consolidates record and Ethereum levels leads the increases driven by a historical capital income in ETF. The market celebrates signals of political distension in the US and advances while Congress debates key laws for the regulatory future of the sector.
The market of cryptocurrencies It operates with a bullish tone this Thursday, promoted by regulatory factors, massive entries to traded funds and expectations of feat cuts in the United States. He Bitcoin (BTC) remains above US $118,000after marking a new historical maximum this week above the US $120,000while Ethereum (eth) shoots near a 10%quoting around US $3,430in its best day since March.
The rest of the main cryptocurrencies also accompanies the positive trend: it rises up to 7%Cardano, Dogecoin (6.4%), Tron (3.4%) and Avalanche (3.3%).
Ethereum: The thrust of ETFs and institutional interest
A good part of the enthusiasm around Ethereum responds to strong entries in quoted funds (ETF) linked to the asset. According to data from Soso Valuethe ETFs of ETH recorded Wednesday US $ s726 million In net tickets, a new daily record. In total, assets under management in this type of products already exceed US $ s16,410 millionequivalent to 4% of ETH market capitalization.
The background Blackrock Etha led purchases with almost $ s s500 million In tickets, followed by the ETFs of Fidelity and Grayscalewho added other US $167 million. With an accumulated rise of 22% in JulyETH is positioned as one of the most dynamic assets of the month, and analysts consider that the rally still has margin if the institutional demand remains firm.
Powell’s Fed and role expectations
The market also found relief in the last reading of the Consumer Price Index (CPI) of the United States. While both general and underlying inflation rose in June, they did it below the provisions of analysts, which reinforces speculation about a possible Rate cut by the Federal Reserve (FED) In the third quarter.
In that context, the US president Donald Trump He tried to calm the markets by discarding, at least publicly, an immediate dismissal of the president of the Fed, Jerome Powell. “We are not planning to do it … unless there is fraud,” he said. The statement deactivated – for now – a front of institutional uncertainty that worried investors.
The “Crypto Week” in Washington and the regulatory impulse
The recent rise in cryptocurrencies also finds support in the legislative field. In the middle of the call “Crypto Week”the US House of Representatives advanced with a Procedural vote To discuss a package of three laws promoted by the Republican Party: the Genius lawthe Clarity Law and the Law against Surveillance by Central Bank Digital (CBDC).
After intense internal negotiations and resistance of the most conservative wing of Congress (the House Freedom Caucus), Trump himself intervened to convince several legislators to support the motion. The rules, even under debate, seek to establish a Lighter and favorable regulatory framework For the crypto industry, a persistent claim of the financial sector linked to these assets.
With digital assets again in the Washington radar and with institutional support signs, the crypto market enters a new stage where regulation could cease to be an obstacle to becoming a growth catalyst.
Source: Ambito
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