The long-anticipated launch of spot Ethereum ETFs in the United States became a reality today as nine such financial vehicles went live for trading.
The first 90 minutes were quite impactful, as the total volumes exceeded $360 million, according to data from Bloomberg’s ETF specialist – Eric Balchunas.

Here’s where we at after 90 minutes. $361m total. As a group that number would rank them about 15th overall in ETF volume (about what $TLT and $EEM trade), which is Top 1%. But again compared to a normal ETF launch, which rarely see more than $1m on Day One, all of them have… pic.twitter.com/R5UgQFR1L6
— Eric Balchunas (@EricBalchunas) July 23, 2024

2024 continues to be a milestone-setting year for the cryptocurrency industry in terms of validation from the most critical

Bitcoin’s price continues to be highly impacted by the political scene in the United States. After the failed assassination attempt against Donald Trump last weekend, this time, news regarding his opponent rattled the markets.
However, the cryptocurrency managed to bounce off and return to nearly $67,000 almost immediately.
The current US president, Joe Biden, ended his campaign for the 2024 presidential elections an hour ago, saying it was a decision made in “the best interest of my party and the country.”
This came just a few days after reports emerged that the POTUS was suffering from COVID and the subsequent uncertainty regarding his health situation, given his age.

“And while it has been my intention to seek reelection, I believe it is in the best interest of my

Bitcoin’s price headed south on Friday evening as it popped above $58,000 and has remained there since.
The altcoins have also turned green, with XRP, ADA, DOT, BCH, and NEAR leading the pack from the larger caps.
BTC Reclaims $58K
The primary cryptocurrency had a violent end to the previous business week as it dumped hard on July 5 from over $58,500 to a multi-month low of under $54,000. The bulls intercepted the move during the weekend and drove BTC to $58,500 once again.
Another volatile ride followed with a price pump and dump of around $3,000 each at the start of the new business week. The bulls kept the pressure on, and the cryptocurrency briefly surpassed $59,000 on a few occasions, the last of which was after the favorable US CPI numbers on Thursday.
However, the

Cryptocurrency-based exchange-traded funds continue to be on the main stage in the US, with the latest filing from VanEck taking into account the fifth-largest digital asset – Solana.
Shortly after the news broke, the native token’s price shot up by 7% to $150.
Matthew Sigel, the company’s Head of Digital Assets Research, highlighted the development on X. He noted that the firm believes Solana is very similar to Ethereum as it operates as an “open-source blockchain software designed to handle various applications, including payments, trading, gaming, and social interactions.”
He added that, unlike Ethereum, Solana works as a “single global state machine” that lacks sharding or layer-2 networks.
The US Securities and Exchange Commission approved spot Bitcoin ETFs in January

The Monday massacre continues as the primary cryptocurrency slipped below $60,000 for the first time in nearly two months.
The altcoins are in a dire state as well, with several double-digit price losers, as well as many others with 5-10% drops.
CryptoPotato reported earlier today the adverse start of the trading week for bitcoin and the rest of the crypto market.
Back then, the largest digital asset had lost over two grand within hours and slumped to a 6-week low of $62,100.
However, the landscape only worsened in the following hours and the cryptocurrency just plummeted to under $60,000 for the first time since the start of May.

As of now, BTC has managed to bounce off to just over that level, but its market cap has plunged below $1.2 trillion. This is because bitcoin

The cryptocurrency industry is often described as a risk-on asset class that tends to underperform in times of economic uncertainty.
Although the stock market also falls in this category, at least to an extent, it has been on a wild run in the past few weeks, with multiple new all-time highs from the most prominent indexes. At the same time, crypto has suffered and the largest digital asset have plummeted since March.
US Stock Market on a Roll
Perhaps driven by the hype around Nvidia, the US stock market has been on a massive bull run since the start of the year. Let’s take the largest and arguably most prominent index – the S&P 500 – for example. It entered 2024 at under 4,800 but skyrocketed to roughly 5,500 earlier this week to chart a fresh peak.
The Nasdaq Composite

Most US-based spot Bitcoin ETFs have started to see substantial withdrawals and the total amount has shot up to more than $500 million in the past week alone, even though it was just a four-day trading week.
These developments have undoubtedly harmed BTC’s price movements, which have been closely related to the ETF flows.
Spot ETF Outflows Skyrocket
Ever since mid-January, when the US SEC reluctantly approved nearly a dozen spot Bitcoin ETFs, these financial vehicles have been at the forefront of investor adoption, especially from those who refrained from entering the landscape before this regulatory nod.
There have been a few trends established in the past five months or so. It all started quite positively as the ETFs saw consecutive days of inflows from January 26 to

Bitcoin’s price actions have calmed during the weekend, as it has happened quite frequently lately, and the asset remains still at just over $66,000.
The weekly scale is quite painful for most crypto assets, as BNB and NEAR have dumped by double digits. UNI and TON are among the few exceptions.
Bitcoin’s Volatile Week
As mentioned above, the last several weekends have been quite dull in terms of price movements and so was the previous one, in which BTC stood at around $69,500. Monday began on a more positive note as the asset jumped to just over $70,000 but was quickly stopped there and pushed down by four grand.
This volatility came as investors were preparing for the US CPI numbers as well as the subsequent FOMC meeting. The better-than-expected inflation data sent BTC

Just a day after announcing a $500 million convertible senior note offering to purchase more BTC, among other goals, Michael Saylor’s brainchild increased its target to $700 million.
The company’s shares have been on a wild ride in 2024, perhaps due to the developments around the Bitcoin landscape, but have soared by triple digits since the start of the year.
$500M Not Enough
Ever since August 2020, when it announced its first BTC purchase, the NASDAQ-listed business intelligence software firm has been using various types of funding to accumulate more of the cryptocurrency. One of its methods included going into debt by offering convertible notes.
CryptoPotato reported earlier this week that the company announced plans to offer $500 million aggregate principal amount of

Ever since mid-January, when the 11 spot Bitcoin ETFs saw the light of day, Grayscale’s converted GBTC has been at the forefront of outflows. This eventually resulted in losing its crown as the world’s largest exchange-traded fund tracking the performance of BTC.
In the last two trading days of this week, though, the tides changed, and this negative award went to Fidelity’s FBTC.
Data from FarSide shows the overall outflows for the week, in which four out of the five trading days were in the red. In total, the 11 ETFs saw $64.9 million withdrawn on Monday, $200.4 million on Tuesday, $226.2 million on Thursday, and $189.9 million on Friday. The only exception was June 12, with $100.8 million in inflows.
What’s particularly worth noting is that Grascayle’s GBTC, which has

Bitcoin’s price movements for the past few days have been quite painful as the asset slumped to $65,000 yesterday for the first time in about a month.
Despite recovering from their lowest positions as well, the altcoins are also deep in the red, with NEAR, FIL, and FET dumping the most.
BTC’s Rollercoaster Continues
The primary cryptocurrency had a somewhat positive start to the business week as it pumped to and slightly above $70,000 on Monday. However, the landscape changed on Tuesday amid growing anticipation and fear about the US CPI numbers and the subsequent FOMC meeting and the asset dropped to $66,000.
Once the CPI beat the expectations, BTC skyrocketed back to $70,000, but that was short-lived. A day later, bitcoin found itself slumping to $67,000 and the

After the US Securities and Exchange Commission made history earlier this year by approving almost a dozen spot Bitcoin ETFs, all eyes in the community turned to the next digital asset in line – Ethereum.
While the landscape didn’t look promising at first, it changed several weeks ago when, somewhat surprisingly, the agency greenlighted eight spot Ethereum ETFs. However, the launch date is still unknown.
When the spot BTC ETFs were approved by the securities regulator, they went live for trading on the very next day, which caused tons of volatility but has been among the most bullish developments in the industries ever since.
The situation with the Ether ETFs is quite different. Although they have been technically approved, there are some irregularities with most S-1

After days and days of registering gains and testing the $72,000 price tag, bitcoin reversed its trajectory on Friday and slumped by more than three grand in hours.
The question arises as to why this happened since the inflows into the US-based ETFs keep coming.
The Bitcoin ETF Impact
It’s safe to say that the biggest and most vital news in the cryptocurrency industry this year has been the ETFs the US Securities and Exchange Commission greenlighted in January. Not the halving, which is typically all people can talk about every four years, but specifically the Bitcoin ETFs (the Ethereum ETFs’ impact will be known after they launch).
After all, numerous financial giants, including BlackRock and Fidelity, became issuers of an exchange-traded fund with an underlying asset a

The popular on-chain sleuth highlighted in his Telegram channel the latest fraudulent activity that involved an early investor in the Solana-based meme coin – ANDY.
It’s also worth noting that Pepe’s best friend’s price has plummeted by more than 20% in the past day alone.
ZachXBT Investigation of ANDY DrainerAs the graph above demonstrates, the exploiter drained approximately $2 million worth of meme coins on Friday in several transactions. They began swapping half of the illicit profit for ETH almost immediately.
However, the unknown bad actor still holds half of the ill-gotten gains in ANDY. ZachXBT warned ANDY investors to be wary if they see any transactions from this address that belongs to the drainer.
ANDY is one of the latest meme coin sensations, with a current

History doesn’t rhyme but tends to repeat itself, which is something that has been happening in the crypto industry in the past few weeks.
In this case, bitcoin and the rest of the market dropped hard on Friday evening, similar to the events from the previous one.
BTC’s Friday Drop
It was last Friday when the primary cryptocurrency tested $69,000 but failed and the subsequent rejection pushed it south by over two grand. The weekend was quite uneventful as the asset had reclaimed some ground and stood around $67,500.
More gains came on Monday as BTC briefly exceeded $70,000. Despite failing there at first, it bounced off and soared past that line on Tuesday. In fact, it stood above it for several consecutive days and even painted a multi-week peak of $72,000 on Friday.
Yet,

As it happened during the past few weekends, bitcoin’s price actions have calmed, and the asset sits at just under $68,000.
The altcoins are also quite sluggish on a daily scale, but the weekly landscape has produced some mind-blowing gains.
BTC Stops Below $68K
Bitcoin had a strong start to the current week as it exploded from under $69,000 to over $70,500 in hours on Monday. As the bulls were preparing for another run, perhaps even challenging the all-time high of $73,800, the asset’s trajectory reversed, and it started losing value rapidly.
By Tuesday, the cryptocurrency had slumped by more than three grand and was close to breaking below $67,000. The volatile price rides kept coming in the following days, including a few attempts to take down $70,000 and a couple of

After a few days of sideways trading, bitcoin’s price headed south on Friday and slipped to a weekly low of around $66,600 before it recovered approximately a grand.
The altcoins are quite sluggish today, with ETH gaining about 1% of value and closing down on the $3,800 mark.
BTC Recovers
The start of the business week went under the total domination of the bulls as they drove the primary cryptocurrency from under $69,000 to a weekly high of over $70,500. As hope started to emerge about a potential challenge to the all-time high of $73,800, though, the landscape changed and BTC slumped by more than three grand by Tuesday.
More volatility ensued in the following days, but bitcoin ultimately remained in a range between $67,000 and $69,000 with a short-lived attempt to

The previous week was dominated by news and developments on the spot Ethereum ETF front, while the current one was taken over by Bitcoin exchange-traded funds.
It almost felt inevitable after the launch of all US spot Bitcoin ETFs in early January that the BlackRock product will surpass that of Grayscale, which was actually converted from the former BTC Trust. Grayscale’s GBTC saw substantial outflows ever since it first reached the US markets, while BlackRock’s IBIT kept attracting billions of dollars worth of the primary cryptocurrency.
This moment finally occurred earlier this week as it took the world’s largest asset manager just 96 days to become the biggest Bitcoin ETF issuer. Currently, Grayscale’s fund has $19.7 billion in BTC, while IBIT holds $19.97, according to

Bitcoin’s price experienced some enhanced price fluctuations in the past few days, going down to under $66,500 before jumping to just over $69,000 last night.
The altcoins are also slightly in the green on a daily scale. UNI has taken the main stage with a massive 20% surge that has driven it to over $10, while PEPE has charted another fresh peak.
PEPE New ATH, UNI Skyrockets
The most important news in the cryptocurrency industry this week came from the US Securities and Exchange Commission and affected mostly ETH. The regulator approved eight spot Ethereum ETFs on Thursday, which, alongside the hype around the news, propelled a massive rally for the underlying asset. ETH went from $3,100 on Monday to over $3,900 mid-week before it retraced slightly to its current position

Spot Bitcoin ETFs had some hard times at the end of April and especially on May 1, but the trend has changed now with 10 consecutive days of positive flows.
This comes as BTC’s price went on a rollercoaster propelled by the news surrounding the Ethereum ETFs, but the asset now heads toward $69,000.
The cryptocurrency industry saw a massive milestone in January when the US Securities and Exchange Commission finally greenlighted nearly a dozen spot Bitcoin ETFs after a decade of rejecting or delaying every application.
The effects were immediate as these products started attracting billions of dollars in the first few months. Then came April, though, when the trend changed, and there were numerous days in the red.
May 1 was the most painful in terms of outflows, as the total

Bitcoin had a quite positive trading week in which it gained over six grand and skyrocketed to its highest price tag in almost a month of over $67,000.
Most altcoins also followed suit, with SOL, AVAX, BCH, LINK, and many others registering double-digit gains.
BTC Calms at $67K
Bitcoin had retraced to just over $60,000 last Friday, but the bulls managed to defend that psychological support level during the weekend. Moreover, the asset started to climb on Monday and jumped to just over $63,000. It failed there and retraced to $61,200 on Tuesday, ahead of the US CPI announcement for April, but shot up once those numbers came out.
More precisely, the cryptocurrency gained several grand and skyrocketed to over $66,500 for the first time since mid-April. Another brief

By examining the processing speed of the largest blockchain networks in terms of total value locked on DeFiLlama, CoinGecko outlined the fastest based on the actual and realized transactions-per-speed (TPS) metric.
The report concluded that Solana leads the way, followed by Sui and the Binance Smart Chain. Interestingly, Ethereum and Bitcoin are not even in the top 15.
Solana’s World
Despite its several outages in the past few years, the Solana blockchain has emerged as the fastest on CoinGecko’s list. The average daily TPS stands at 1,053.7, while the network marked a record on April 6 at just over 1,500.
According to the report, this makes Solana “46 times faster than Ethereum, and more than 5 times faster than Polygon, which has the highest TPS among Ethereum scaling

Bitcoin’s most recent run continued in the past 24 hours as the asset’s price climbed to its highest price in over a month at just over $67,400 yesterday.
Ethereum has also joined the party at last, having surged past the coveted resistance line of $3,000 and jumping above $3,100.
BTC Sees 5-Week Peak
Bitcoin suffered a lot at the start of May as it dumped to a multi-month low of under $57,000. It began to recover some ground in the following week when it soared past $65,000 on May 6 but quickly reversed its trajectory and saw its price dropping to under $61,000 on May 10.
The bulls intercepted the move at this point and didn’t allow any further declines. Just the opposite, BTC maintained its ground last weekend and started climbing on Monday to just over $63,000. Another

A lot can change in the cryptocurrency market within the span of a week and it indeed did in the past seven days. It was just last Friday when bitcoin was struggling to remain above $60,000 after another leg down, but the landscape is quite different now.
The changes started to happen during the weekend when BTC remained above the aforementioned level and even increased slightly to around $61,000. However, the first big move came on Monday when the cryptocurrency pumped to just over $63,000.
It failed to sustain that rally and retraced hard on Tuesday amid some Coinbase issues and perhaps due to pressure from the upcoming US CPI announcement on Wednesday. Once that came out, though, and the reality met expectations, bitcoin started climbing rapidly.
It jumped by several

Bitcoin’s price saw a lot of volatility last week, especially before and after the US Fed’s most recent FOMC meeting, but managed to recover some ground during the current one. Let’s unpack.
The primary cryptocurrency had dropped to a multi-month low of $56,500 last Wednesday, went on a volatile rollercoaster as the US central bank said it would not raise the interest rates, and began its recovery on Friday.
At the time, BTC soared from under $59,000 to $62,000 in minutes and kept climbing during the weekend. As such, it touched $64,000 on a couple of occasions but failed to overcome that level by Sunday. However, it did so on Monday and soared to $65,500 to tap a 12-day high.
Nevertheless, the bears were still lurking around and didn’t allow any further gains. Just the

Bitcoin’s price recovery tour took it to a multi-day peak of $64,500 yesterday, but the asset failed to continue upward and has retraced by over a grand since then.
Most larger-cal alts are slightly in the red on a daily scale, with TON, ADA, and SHIB declining by 2-4%.
BTC Stopped at $64.5K
The start of May was quite painful for the bitcoin bulls as the cryptocurrency slumped hard after failing to pump above $65,000 a day earlier. The massive correction drove the asset to its lowest price tag in over two months of $56,500.
The Fed’s refusal to raise the interest rates any further brought more volatility, as BTC pumped and dumped by $2,000 in minutes on Wednesday afternoon. Only then started the gradual price recovery as bitcoin jumped to $59,000 by Friday.
The bulls

The trading day continues in an even more painful manner for bitcoin as the primary cryptocurrency took another hit and slumped to its lowest price position in over two months of under $59,300.
The altcoins’ situation is worse, with ETH dropping below $3,000, SOL dumping by 8%, and a few double-digit price declines.
Bitcoin/Price/Chart. Source: TradingViewIt was just earlier today when the bitcoin bulls had taken charge and initiated an impressive leg up that resulted in the asset nearing $65,000 for the first time in a few days.
However, it failed to breach that level, and the subsequent rejection led to dire consequences. Amid the disappointing debut of the spot Bitcoin and Ethereum ETFs in Hong Kong, the largest cryptocurrency fell by a couple of grand during the day

Bitcoin’s fourth halving is already in the history books, and the block rewards have been reduced to 3.125 BTC. Although historically the event has been named the catalyst of a new bull cycle, there’s a lot of controversy now, with many claiming that the effects of this halving are declining.
Aside from that, though, there are many other bullish developments on the Bitcoin front that might get you excited in the coming months.

If you’re still feeling bearish, you need to know this:…
— Lark Davis (@TheCryptoLark) April 27, 2024

ETF Developments
Perhaps the most bullish news this year came in mid-January when the US Securities and Exchange Commission finally greenlighted nearly a dozen spot Bitcoin ETFs to start trading on local exchanges. In a matter of just a few months,

Bitcoin’s price actions were quite bearish for the past few days once again as the asset fell to $62,300 yesterday but managed to regain almost two grand since then.
The altcoins have also turned green today, with ETH jumping above $3,300 and SOL reclaiming the $140 level.
BTC Challenges $64K
It was just over a week ago when BTC went through its fourth halving, slashing the block rewards by half for the miners. At the time, the asset’s price had experienced tons of volatility amid the escalating tension between Iran and Israel.
After a massive drop to under $59,500, the cryptocurrency jumped by more than five grand and went above $65,000 last weekend. It kept climbing in the first few days of the business week and spiked above $67,000 on a couple of occasions.
However,

Bitcoin’s price recovery attempts from the business week have come to a halt as the asset slumped to $62,400 earlier before bouncing off to around $63,000 as of now.
The altcoins are in no better shape, with most of the market turning red today. The total crypto market cap is down by $150 billion in two days.
BTC Dumps to $63K
Bitcoin’s price actions before and after the fourth halving, which was completed last Friday, have been quite underwhelming. The asset recovered some ground after the Iran-Israel attacks and stood above $65,000 when the block rewards were reduced.
It even started climbing in the following days and challenged $67,000 on a few occasions. Yet, it didn’t see much success there amid the growing ETF outflows.
Just the opposite, BTC started to lose value