The cryptocurrency market has experienced a slight correction, with the overall market capitalization decreasing by 4.6% in the last day. It now sits at $3.99 trillion, falling back from the $4 trillion mark it recently surpassed. A majority of the leading 100 cryptocurrencies, ranked by market capitalization, are currently showing losses. Trading activity remains robust, however, with total crypto trading volume holding steady at $269 billion, consistent with levels observed over the previous week.
In summary:
Crypto Market: Gainers and Losers
Looking at the top 10 cryptocurrencies, only one has shown positive gains in the last 24 hours (at the time of writing).
Bitcoin’s price has decreased by 1.2% to $117,854. Despite this drop below $118,000, it remains above $117,500.
Ethereum has also declined, falling 2.7% to a current trading price of $3,692. The price remains on track for $4,000.
Dogecoin (DOGE) experienced the largest decline among the top cryptocurrencies, dropping 3.2% to $0.2647.
Solana (SOL) is the sole gainer in the top 10, increasing by 5.1% to a price of $198.97.
Within the top 100 cryptocurrencies, Kaspa (KAS) has shown the most significant gain, increasing by 9.8% to $0.1153.
Jupiter (JUP) follows with an 8.6% increase, trading at $0.6531.
However, the majority of cryptocurrencies have experienced price decreases. Pump.fun (PUMP) has seen a significant drop of 13.1%, bringing its price to $0.003751.
SPX6900 (SPX) has also declined, falling 6.7% to $1.84.
The outflows from Bitcoin ETFs might indicate a temporary reduction in institutional demand, potentially influenced by concerns over international trade and the possibility of new tariffs being imposed by the US on August 1st.
In other news, JPMorgan Chase is reportedly exploring the possibility of offering loans secured by Bitcoin and Ethereum holdings, potentially starting next year. This would allow users to borrow funds using their crypto assets as collateral.
đŠJPMorgan’s CEO, Jamie Dimon, has confirmed plans to allow clients to buy Bitcoin but not to provide custody services. â Cryptonews.com (@cryptonews)
According to John Glover, Chief Investment Officer at Ledn, current market activity supports his long-held view that we are in the final “5th wave” of the bull market, expected to peak between late 2025 and early 2026, with Bitcoin reaching a price range of $136,000 to $140,000.
Glover advises investors to focus on the potential upside of the current bull market and participate until year-end.
However, he cautions that if Bitcoin falls below $112,000, a further dip towards $100,000 could occur before another upward movement. He considers this scenario less likely. Source: Ledn
Werner Brönnimann, Investment Manager at crypto bank AMINA, believes Bitcoin’s recent rally above $123,000 and the market reaching a $4 trillion valuation signify a fundamental shift driven by genuine institutional adoption, rather than solely speculative retail interest.
Brönnimann highlights consistent investments from pension funds and corporate treasuries, rather than social media-driven FOMO (fear of missing out).
However, âdespite Bitcoinâs performance, we are not in âAltcoin Seasonâ yet,â he notes.
Regardless of institutional adoption, the macroeconomic landscape could still challenge Bitcoin’s performance. While regulatory clarity supports institutional inflows, Bitcoin remains susceptible to shifts in monetary policy. A tightening of monetary policy in response to tariff-induced inflation could outweigh strong institutional demand.
Brönnimann concludes that Bitcoin’s growing institutional involvement is transforming it from a purely alternative asset to one that behaves more like a risk-on asset.
Key Levels and Events to Monitor
Currently, Bitcoin is trading at $117,854. It previously declined from $119,523, reaching a low of $116,787 before recovering. Over the past week, the price has increased by 1.1%.
Investors are watching for Bitcoin to regain the $118,000 level, potentially leading to further increases towards $118,900 and $119,500. A decline towards $116,000 or $115,000 remains a possibility.Bitcoin Price Chart. Source: TradingView
Ethereum is trading at $3,692, slightly above its intraday low of $3,679, while its highest peak over the past day was $3,848. Over the week, the price has increased by 24.4%.
Market participants are watching to see if the price will move above $3,900, potentially signaling a surge towards $4,000. Alternatively, a drop to the low $3,600s, followed by a dip into the $3,590 range, is possible.
Overall market sentiment remains greedy, though it has decreased slightly over the past three days. The Fear and Greed Index has dropped from 71 on Friday.
This score still suggests a positive outlook. There is currently no indication of an overbought market, though a correction is still possible.Source: CoinMarketCap
US Bitcoin spot ETFs experienced outflows on July 21st, ending a 12-day streak of inflows.
BlackRock saw no inflows on Monday, and the most significant outflow came from Ark&21Sharesâ $77.46 million.Source: SoSoValue
Conversely, US Ethereum ETFs reported inflows for the twelfth consecutive day on Monday.
Fidelity had the highest inflows, with $126.93 million, followed by BlackRock with $101.98 million. 21Shares saw outflows of $374,050.Source: SoSoValue
Western Union is exploring the use of stablecoins to improve its global remittance operations. CEO Devin McGranahan believes stablecoins could streamline cross-border transfers, improve currency conversion in underserved areas, and provide financial tools for populations with unstable local currencies.
âWe see stablecoins really as an opportunity, not as a threat,â McGranahan said.
WESTERN UNION CEO: “WE’RE INVESTIGATING HOW WE MIGHT OFFER STABLECOIN PRODUCTS IN OUR DIGITAL WALLETS TO OUR CUSTOMERS AROUND THE WORLD,” â The Wolf Of All Streets (@scottmelker)
Crypto custody firm BitGo has confidentially filed for a public listing in the US. Details on the number of shares and price range are not yet available. The move follows growing regulatory clarity and increased institutional investment.
In South Korea, prosecutors are investigating a potential connection between former First Lady Kim Keon-Hee and a crypto market maker suspected of manipulating the prices of smaller altcoins.
A special counsel team investigating allegations involving former first lady Kim Keon Hee is set to summon her and former President Yoon Suk Yeol for questioning. â The Korea JoongAng Daily (@JoongAngDaily) Quick FAQ
- Why has the crypto market diverged from stocks today?
While the crypto market is largely down over the past 24 hours, the stock market closed with mixed results on Monday. The S&P 500 is up by 0.14%, the Nasdaq-100 increased by 0.5%, and the Dow Jones Industrial Average is down by 0.043%. Market observers are awaiting updates regarding trade negotiations. The deadline for a possible US imposition of tariffs on trading partners is August 1.
This appears to be a typical pullback. Overall, the rally is expected to continue, with BTC and ETH expected to appreciate in value later this year.You may also like:(LIVE) Crypto News Today: Latest Updates for July 22, 2025Bitcoin briefly dipped below $117,000 late Monday while Ethereum held steady near $3,700 and Solana surged 12% to cross $200 for the first time since February, meanwhile, XRP hovered near its all-time high of $3.6. âWeâre seeing clear signs of bullish momentum rotating into altcoins⊠real utility projects are drawing interest,â said Alexander Zahnd, interim CEO of Zilliqa, calling it a classic second-phase move as capital flows down the risk curve.But what else is happening in crypto news…