Market update

Cointree Crypto Market Update - July 16th 2025

Market report for traders

🔮 BTC, ETH, and Altcoins

Over the last 7 days, Bitcoin ends at AU$180,520 moving +8.10% at the time of writing. Meanwhile, Ethereum ends at AU$4,807 moving +19.91% week-on-week. On the Altcoin side, Solana +8.04%, Dogecoin +16.50%, and XRP +26.36% change.

🗞 What’s happening in the news?

🚨 Tasmania’s Crypto ATM Crackdown

Tasmania has joined Australia’s growing fight against crypto ATM fraud, with police uncovering that the state’s top 15 crypto ATM users lost a combined AU$2.5 million to scams. Over AU$592,000 was deposited directly into ATMs. Detective Sergeant Paul Turner said many victims were pushed toward crypto ATMs after banks blocked suspicious transfers. “Victims are being manipulated, intimidated and pressured into investing in fake investment and romance scams,” Turner said. The number of crypto ATMs in Tasmania has surged from just one in 2021 to at least 24 today.

🏛️ US Crypto Bills Face Backlash During ‘Anti-Corruption Week’

A political clash is unfolding in the US as Democrats push back against Republican-led efforts to fast-track three crypto bills. The GENIUS Act, aimed at regulating stablecoins, has passed the Senate. But Democrats warn the broader package lacks critical safeguards. “[Republicans are] doubling down by fast-tracking a dangerous package of crypto legislation through Congress,” said Representative Maxine Waters. “Aside from lacking urgently needed consumer protections and national security guardrails, these bills would make Congress complicit in Trump’s unprecedented crypto scam.” Trump reportedly gained over AU$955 million (USD$620 million) in recent months through crypto-linked ventures, including his family-backed firm World Liberty Financial, which has issued its own stablecoin, USD1. The proposed CLARITY Act would shift digital asset oversight from the SEC to the CFTC, an approach Democrats argue could weaken regulation and increase industry influence.

🎤 Snoop Dogg’s Telegram NFT Drop Sells Out in Minutes

Snoop Dogg’s newest NFT collection, released through Telegram’s in-app “Send a Gift” feature, sold out almost one million digital assets in just 30 minutes. The drop launched alongside his new song Gifts, and reflects Telegram’s expansion into blockchain-based features. Telegram’s Open Network recently reached a AU$1.53 billion valuation, backed by rising adoption of NFTs and in-app functionality. “While the NFT market has indeed lost momentum compared to its peak, certain categories continue to thrive,” said Ryan Yoon, senior analyst at Tiger Research. Snoop’s collection, he noted, demonstrates how culturally relevant and utility-driven NFTs can still generate strong engagement.

📖 What we’ve been reading

Bhutan Quietly Sells $59M in Bitcoin as BTC Hits $123K, Still Holds Over $1.4B in Reserves

Much of this strategy is executed via Druk Holding & Investments (DHI), the nation’s sovereign wealth fund, which began mining bitcoin by utilizing the country’s abundant hydropower.

Bitcoin’s Mysterious Creator Is (Almost) the World’s 10th Richest Person

Satoshi's wallet, which made all its holdings from mining the network in its earliest days, has remained untouched since 2010, when it was run on a few laptops.