Crypto got its groove back for most of the day, adding about one hundred nine billion dollars in value as traders leaned into the idea that a friendlier Federal Reserve is getting closer. Bitcoin (BTC) held near record levels while Ethereum (ETH) did the heavy lifting, buoyed by brisk futures activity and a flood of demand from funds and treasuries. Crypto focused ETFs saw another wave of inflows, with Ethereum leading and Bitcoin close behind, reinforcing the view that institutional momentum is now a feature, not a bug. The market mood was unmistakably risk on, with signs of an emerging altseason. Bitcoin dominance dipped below sixty percent as search interest for altcoin hit a five year high, and capital rotated into higher beta names. Dogecoin (DOGE) benefited from whale accumulation and surging open interest, nudging up toward a quarter dollar and flashing charts that optimists say have more room to run. OKB (OKB) stole headlines with a massive single day jump after OKX announced a sizable token burn and a fixed supply cap. Cardano (ADA) pressed higher on developer upgrades and optimism around potential ETF pathways, while XRP (XRP) stayed in the spotlight on the back of heavier whale holdings, a striking run since the election, and fresh defenses of the XRP Ledger’s role from Ripple’s CTO. The infrastructure and product pipeline continued to thicken. MetaMask is preparing to roll out its mUSD stablecoin by the end of August under newly clarified United States rules, working with Stripes Bridge and Blackstone. Canary Capital’s registration of a Trump Coin ETF in Delaware put another spotlight on the meme coin trade and sent TRUMP (TRUMP) higher. Thumzup added fuel to the crossover narrative with a fifty million dollar raise to expand into digital assets and Bitcoin mining, tightening ties with Coinbase and eyeing positions in names like XRP. Big institutions kept moving chess pieces. Citigroup is exploring stablecoin custody and crypto ETF services now that the rulebook is clearer. Ark Invest bought one hundred seventy two million dollars of Bullish stock on the exchange’s Wall Street debut, a vote of confidence for crypto market infrastructure. Not everything broke bullish. Coinbase disclosed a roughly three hundred thousand dollar loss from an MEV bot exploit tied to a 0x swapper misconfiguration, stressing that customer funds were safe. GMX completed a forty four million dollar compensation program for Arbitrum liquidity providers after July’s exploit, including incentives for holders who stay put. In Turkey, BtcTurk paused deposits and withdrawals after a breach that moved about forty eight million dollars from hot wallets. Policy and politics added their usual friction. United States Treasury Secretary Scott Bessent ruled out adding Bitcoin to national reserves through purchases, opting instead to grow holdings via seizures. Justin Sun filed a lawsuit against Bloomberg to block publication of his private crypto holdings, reigniting debates about transparency versus security. By the closing stretch, a hotter than expected read on United States inflation took some air out of the rally. The market that ripped earlier in the day pulled back as macro nerves returned, even as Bitcoin (BTC) sat near a fresh peak around one hundred twenty four thousand five hundred dollars and analysts flagged softer near term United States demand. Still, the broader picture remains constructive: ETFs keep attracting capital, Ethereum (ETH) is within reach of all time highs, and the baton keeps passing to altcoins as the sun sets on a whipsaw session.
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📈💰The Federal Reserve announced today that it will maintain its current interest rates, citing a strong job market and moderate economic growth. This decision comes as no surprise to those in the crypto community, as many have been anticipating this outcome for weeks. However, this news may have some investors feeling slightly disappointed, as they were hoping for a rate cut to boost the market.💸💻Crypto tickers such as BTC, ETH, and XRP have been trending upwards in recent weeks, with many investors hoping for a continued bull run. However, with the Fed's decision to keep interest rates steady, some may be wondering if this will have a negative impact on the market. While it's impossible to predict the exact effect on crypto prices, it's important to remember that the Fed's decision is based on a variety of factors and not solely on the crypto market.📉🌎The Fed's decision also has implications for the stock market, with many investors closely watching the anno...
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