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Bitcoin trades at $118,391.27, up 0.70% in 24 hours, maintaining strong support above $118,000.
Ethereum surges 7.33% to $3,349.37, pushing market cap to $404 billion as institutional interest grows.
Three US crypto bills revived after initial House vote failure, with the GENIUS Act advancing.
Major whale activity detected, with 178,080 ETH sold, worth approximately $528 million.
Crypto prices today show incredible strength among major digital currencies. The global market cap stands at $3.78 trillion, up 1.86%. The market remains on an upward path as Bitcoin holds key support levels. Meanwhile, Ethereum takes the lead in gains among top cryptocurrencies. Current legislative action and institutional activity are propelling market sentiment, despite some profit-taking by whales.
Here is how the world's leading cryptocurrencies fared in today's trading session:
Bitcoin price today is $118,391.27, which is a good 0.70% rise over the last 24 hours. The dominant cryptocurrency has a market cap of $2.35 trillion with a trading volume of $71.36 billion in the last 24 hours, showing sustained institutional and retail demand.
Avinash Shekhar, Co-Founder & CEO, Pi42, noted, "Bitcoin remains in consolidation mode after peaking above $123,000 earlier this week, now hovering near $118,000 as traders assess elevated open interest and resistance near all-time highs. Markets now watch whether Bitcoin can reclaim the $120,000 level. "
Bitcoin spot ETFs continue to attract substantial institutional investment, bolstering investor optimism regarding the token. The recent accounts reported $403 million in ETF net inflows. The total net asset value of Bitcoin spot ETFs stands at $149.657 billion, or 6.46% of the total market value of Bitcoin.
Ethereum posted a record-breaking performance among the leading cryptocurrencies, jumping 7.33% to $3,349.37. The second-largest cryptocurrency has achieved a market cap of $404 billion, indicating strong institutional adoption and an increasing ecosystem value.
Despite the bulls, recent observations by Lookonchain indicate significant whale trading. Two large whales have offloaded 178,080 ETH, worth about $528 million. However, analysts have found a key level of resistance for Ethereum at $3,980. If it is broken through, it could result in a massive upward surge in the token's value.
XRP remains the third-largest cryptocurrency, with a market capitalization of $3.05 and a 5.14% gain. The token has a market cap of $180.92 billion with strong trading volume of $9.52 billion, which suggests consistent investor appetite.
Solana (SOL), on the other hand, jumped 5.43% to $171.18, bouncing back in style with a market cap of $92.07 billion. The much-hyped REX-Osprey SOL spot ETF has accumulated a total net inflow of $73 million since its launch. They seem to be losing their glory, as the July 16 data shows no net inflow or outflow.
Also Read: Crypto Week Stalls as Trump Tries to Save GENIUS Act from GOP CBDC Revolt
The overall altcoin market posted outstanding performance from various tokens:
BNB: It is trading at $710.74, up by 3.49% with a market cap of $99 billion.
Dogecoin: DOGE price climbed 6.64% to $0.2098, demonstrating strength with a market cap of $31.51 billion.
TRON: TRX rose by 3.66% to $0.3120, sustaining its $29.57 billion market cap.
Cardano: ADA rose 1.78% to $0.7529, with a market cap of $26.65 billion.
Avinash Shekhar, Co-Founder & CEO, Pi42, commented,” Ethereum has rebounded past $3,400 on the back of renewed risk-on sentiment, with markets eyeing a potential move toward $4,000. Altcoins like XRP, Solana, and Dogecoin are gaining traction as Bitcoin dominance faces rejection, hinting at early-stage capital rotation.”
USDT and USDC are trading at $1 and 0.9997, respectively, with gains of 0.02%. Statistics from Tether's official transparency report indicate that the net circulation of USDT has hit an all-time high of $160.26 billion.
Here are the top global headlines impacting crypto prices today:
The US House of Representatives paved the way for three Republican-sponsored crypto bills to be debated after a failed vote on July 15. Lawmakers voted 215-211 on July 16 in favor of a resolution to reconsider a package of bills that would oversee payment stablecoins and create a crypto market structure. It also prohibits the development of a US central bank digital currency (CBDC).
Despite political pressure from US President Donald Trump, five Republicans refused to vote for reconsideration of the resolution. Now, Reporter Eleanor Terrett has uncovered that the GENIUS Act will have a rules vote on July 18, and the CLARITY Act will have a vote next week. Furthermore, an anti-CBDC provision will be added to the National Defense Authorization Act (NDAA).
European Union's Anti-Money Laundering Authority (AMLA) has issued a warning to crypto exchanges and service providers regarding stricter compliance requirements that will take effect this month. The regulatory body mandates that crypto businesses must evaluate the actual beneficiaries and shareholders to ensure they are not involved in money laundering or terrorist financing.
Records released under the Freedom of Information Act reveal that the US Marshals Service possesses considerably fewer bitcoins than were previously estimated. The Justice Department revealed that the agency only had 28,988 bitcoins as of March, which was worth about $3.4 billion at today's prices.
Senator Cynthia Lummis voiced her concerns, saying: "It's appalling to hear about reports that the US has sold more than 80% of its bitcoin reserves, leaving only around 29,000. If true, this would be a huge strategic misstep, putting the US years behind in the bitcoin space."
French parliamentarians have presented a bill to the National Assembly introducing a five-year pilot scheme for Bitcoin mining based on excess electricity from nuclear power stations. Statistics provided by the French Digital Asset Development Association (ADAN) indicate that utilizing 1 gigawatt of excess power would create a yearly revenue of $100 million to $150 million for the country.
Also Read: What is US Crypto Week and its Impact on the Crypto Market
The crypto market shows ongoing strength as institutional uptake gains pace and regulatory clarity is forthcoming. Short-term volatility is still conceivable, but the underlying trend indicates long-term bullish support across primary digital assets.
Investors should monitor future legislative actions, particularly the vote on the GENIUS Act, as well as ongoing institutional ETF inflows. They should also monitor technical support levels for Bitcoin and top altcoins. Both the regulatory advancement and increasing institutional demand create a positive backdrop for further crypto market expansion.
1. What is the Bitcoin price today in India?
The Bitcoin price today is approximately ₹98.7 lakh in India, based on the global rate of $118,391.27. Prices can slightly vary across Indian exchanges due to conversion rates and platform fees. Bitcoin remains the most valuable cryptocurrency and continues to hold strong support levels, signaling bullish market sentiment this crypto week.
2. How is the cryptocurrency market performing today?
The cryptocurrency market is showing strong bullish momentum today. Bitcoin is trading above $118,000, Ethereum has surged over 7% to cross $3,300, and altcoins like Solana, Dogecoin, and XRP have also posted gains. Market optimism is being driven by positive legislative moves like the GENIUS Act and strong ETF inflows.
3. What is the current Bitcoin price trend and market outlook?
Bitcoin is currently priced at $118,391.27, up 0.70% in the last 24 hours. Analysts view $117,000 as a key support level. If economic data favors risk assets, Bitcoin could move toward $120,000 this crypto week. Institutional interest and ETF inflows are helping maintain upward pressure on the price.
4. Which is the best cryptocurrency to invest in today?
Ethereum is considered one of the best cryptocurrencies to invest in today due to its 7.33% surge and strong ecosystem fundamentals. Bitcoin also remains a top choice for long-term investors. Altcoins like Solana and XRP are gaining traction due to positive market momentum and increased trading volumes.
5. What is the XRP price today and its market position?
XRP is trading at $3.05 today, showing a 5.14% increase in the last 24 hours. It maintains its position as the third-largest cryptocurrency by market cap at $180.92 billion. XRP's performance this crypto week reflects continued investor interest and broader market strength.
