THE WEEKLY WRAP
Crypto markets moved lower this week, with total market capitalisation falling 4.06% to US$2.15 trillion. Sentiment improved slightly despite the decline, with the Fear and Greed Index rising to 29 while remaining in the “Fear” category.
Weekly ETF flows remained positive but subdued. Bitcoin products recorded US$33.79 million in net inflows, while Ethereum products recorded US$103.90 million, the larger of the two weekly totals.
In the US, progress on the Digital Asset Market Clarity Act remains on hold as the Senate prioritises other legislation and government nominations. The bill could still receive preliminary attention before the summer recess, although September may be the next available window for further Senate action.
BTC vs GOLD vs Nasdaq
🟡 Gold: -6.90%
🔵 Nasdaq: +9.66%
🟠 Bitcoin: -27.95%
The Nasdaq recorded the largest weekly change of the three, falling from +13.01% to +9.66% year-to-date. It has also fallen by close to 10% from its 3 June level, while remaining the only one of the three assets in positive territory for the year.
Bitcoin moved from -25.72% to -27.95% year-to-date. It remains the weakest year-to-date performer of the three and continues to trade near the lower end of its June-to-July price range.
Gold moved from -7.39% to -6.90%. It remains negative for the year but continues to sit ahead of Bitcoin and behind the Nasdaq.
Source: TradingView, BTC, GOLD, NASDAQ
BTC
Bitcoin traded as high as approximately US$65,600 before falling towards US$63,000 and reversing Monday’s increase. The move coincided with a rise in leveraged-position liquidations across the broader crypto market.
The price movement occurred ahead of the US Federal Reserve’s 28–29 July policy meeting. Global government bond yields also reached their highest level since 2008 during the week, providing broader macroeconomic context for the market movement. The Federal Reserve’s decision is scheduled for 29 July in the US, or early 30 July Australian time.
Source: TradingView, BTC/USDC
The chart shows Bitcoin trading within a rising channel through much of July, with a sequence of higher price levels.
On 28 July, BTC moved below the lower boundary of the channel and returned to approximately US$63,500. The broader range shown on the chart extends from approximately US$57,800 to US$67,300.
The latest movement places Bitcoin near the middle of its wider June-to-July range after trading above US$65,000 earlier in the week.
Technical analysis is based on historical price movements and does not predict future performance.
ETH
Ethereum has been one of the strongest performers this week, continuing to attract investments from large institutions through US spot Ethereum ETFs. Proof of the ongoing growth in confidence of ETH, whilst broader crypto markets have remained relatively cautious.
This week, Lido, the largest staking provider on Ethereum, began rolling out its biggest protocol upgrade in years, migrating more than 8 million ETH (estimated US$16 billion) to Ethereum's newer validator infrastructure. The move is expected to reduce the number of validators securing the network by around one-third, improving efficiency while introducing stronger accountability measures for node operators.
The changes may not be noticeable to traders day to day, but they represent another step in Ethereum's long-term evolution. By improving the efficiency of its staking infrastructure, the network is continuing to build for the future as more investors, institutions and applications rely on Ethereum.
Buy EthereSource: https://www.blogcripto.com/conceptos/que-es-lido-dao/
ALTCOINS
Altcoin sectors moved lower this week, with four of the five tracked categories finishing in the red. GameFi was the clear exception, rising 9.64%, while meme coins were almost unchanged at -0.47%. RWA declined 1.10%, while DeFi and AI recorded the largest sector falls, dropping 4.34% and 4.50% respectively.
SHIB’s 9.58% gain helped limit the decline across meme coins, while PEPE fell 3.58%. AAVE rose 5.94%, although the broader DeFi category finished lower. NEAR dropped 17.51%, weighing on the AI category.
Source: https://defillama.com/narrative-tracker
THIS WEEK’S INSIGHT’S
Investment scammers are targeting Australians through Facebook advertisements, phone calls and video meetings, often posing as brokers or account managers who offer to help establish accounts and place trades.
They may request remote access to a computer, tell the customer to hide their involvement or display fake dashboards showing profits that cannot be withdrawn. Some scammers later return while posing as recovery services and demand further payments.
If someone is currently directing your transactions, has accessed your device or has asked you to hide their involvement, stop contact and do not send any further funds.
