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Crypto prices today show a period of consolidation. The global crypto market cap as of 10.53 AM on July 24,2025 is down by 2.60% to $3.85 trillion, according to CoinMarketCap data. Bitcoin price is staying above the key price level of $117,000 as stablecoins hold their pegs. The broader market shows mixed performance amid institutional developments and regulatory decisions.
Here’s how the world’s to ten tokens performed today:
Bitcoin's current price of $117,983.49 represents a modest pullback from recent highs. The leading crypto maintains its market capitalization of $2.34 trillion. Trading volume is at $67.9 billion over the past 24 hours.
Edul Patel, Co-founder and CEO of Mudrex comments, “Bitcoin remains range-bound between $17,500 and $120,000 as investors wait for a catalyst to trigger the next leg of the rally. With major events like the FOMC meeting, US Treasury’s borrowing plans, and Trump’s tariff proposals ahead of us, July’s last days could shape market sentiment for the rest of the year. Meanwhile, the broader market's bullish trend holds strong, with ETH ETFs seeing 13 days of positive inflows, totaling over $4 billion. These consistent inflows could help ETH break the $3,800 resistance to touch $4,000 soon.”
Also Read: Ethereum News: ETH Surges 160% as Crypto Demand Outpaces Supply
Here is how altcoins performed today:
Ethereum has faced more significant pressure, declining 3.45% to $3,607.81 with a market cap of $435.5 billion. XRP experienced the steepest decline, falling 10.76% to $3.12. The third-largest digital asset by market capitalization at $185.1 billion.
According to CoinMarketCap Data, Solana (SOL) is down by 7.59% as BNB dipped 4.01%. At the same time, Cardano (ADA) declined 9.69% while TRON (TRX) experienced a fall of 3.29%. The popular memecoin, Dogecoin (DOGE) has seen a steep decrease of 10.50%.
Avinash Shekhar, Co-founder, and CEO, Pi42 noted, “Ethereum is hovering near $3,600, holding firmer ground but showing signs of cooling momentum. Solana is trading near $191, with $180 being eyed as a key support zone in case of further weakness before any potential rebound. XRP is also under pressure, facing threats of a drop toward $3 if bulls don’t re-enter strongly.”
Shekhar further explained that accumulation zones are attracting attention and fresh capital waiting on the sidelines. This means markets could be primed for a renewed wave of bullish momentum.
Stablecoins continue to serve as safe havens during market uncertainty. Tether (USDT) maintains its dollar peg at $1 with a market cap of $162.6 billion. On the other hand, USD Coin (USDC) trades at $0.9999 with $64.7 billion in market capitalization.
The following top headlines may affect crypto prices today and beyond:
In a significant development for institutional Bitcoin adoption, Jack Dorsey's Block has officially joined the S&P 500 index. It has become the third public company with Bitcoin holdings to achieve this milestone. Block's substantial Bitcoin treasury of 8,584 BTC, valued at approximately $1 billion, makes it the 13th-largest corporate holder of the cryptocurrency.
Goldman Sachs and BNY Mellon are preparing to offer tokenized money market funds to their clients. This initiative represents a significant step toward blockchain-based financial infrastructure in traditional banking. The timing coincides with the recently signed GENIUS Act, which established a regulatory framework for stablecoins in the United States.
Regulatory uncertainty continues to impact the crypto market following the SEC's unusual handling of Bitwise's crypto index fund conversion. The regulator provided ‘accelerated approval’ for converting the Bitwise 10 Crypto Index Fund into an ETF. Industry analysts suggest the SEC may be developing new listing standards for cryptocurrency ETFs, creating temporary uncertainty for pending applications.
Also Read: Crypto News Today: Mara Plans $1B Bitcoin Fund, CoinShares Gains EU License, WLFI Partners with Vaulta
Today's mixed crypto performance reflects the market's maturation as institutional adoption accelerates alongside regulatory evolution. Bitcoin's slight decline may concern short-term traders. The underlying fundamentals remain strong with sustained trading volumes and growing corporate adoption. Thus, the long-term outlook remains positive despite short-term volatility. Investors should keep an eye on ongoing institutional developments for future price movements and market stability.
1. Why is Bitcoin price hovering around $117,983 today?
Bitcoin is trading at $117,983 today for a mix of institutional activity and market consolidation. While it saw a slight 0.80% decline, strong trading volume of $67.9 billion and steady market interest from both retail and institutional investors are helping it hold above the $117,000 level. The recent inclusion of Block in the S&P 500 with $1 billion in Bitcoin holdings has also contributed to market confidence.
2. What caused the sharp drop in XRP and Ethereum prices?
XRP fell 10.76% and Ethereum dropped 3.45% due to ongoing market volatility and uncertainty surrounding cryptocurrency regulation. XRP's performance reflects broader altcoin sensitivity, while Ethereum’s decline is likely tied to investor caution in response to pending decisions by the SEC and other regulatory bodies.
3. How does Block’s S&P 500 inclusion impact Bitcoin?
Block joining the S&P 500 marks a major step for institutional Bitcoin adoption. With 8,584 BTC worth roughly $1 billion, Block becomes the 13th-largest corporate holder of Bitcoin. Its S&P 500 inclusion introduces indirect Bitcoin exposure to index funds, legitimizing BTC further as a treasury asset and potentially influencing other firms to follow.
4. What are tokenized money market funds and who is launching them?
Tokenized money market funds are blockchain-based versions of traditional financial instruments. Goldman Sachs and BNY Mellon are leading this innovation by allowing clients to access money market funds whose ownership is recorded on a private blockchain. This allows for real-time settlements and 24/7 trading, enhancing efficiency in capital markets.
5. Why did the SEC pause the Bitwise ETF approval after granting it?
The SEC’s sudden pause after approving Bitwise’s ETF conversion adds regulatory uncertainty. Analysts believe the SEC may be revisiting its listing standards for crypto-based ETFs. This isn’t the first time the agency has delayed action after approval, creating frustration among investors and temporarily affecting sentiment around institutional crypto products.
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