marketmoves

₿ Crypto Brief

🎯 GENIUS Act passed; Bitcoin hit $120K as capital rotated to ETH/altcoins; SEC paused Bitwise ETF.

🔸 U.S. Congress passed the GENIUS Act, the first federal stablecoin law; Senate drafts broader digital asset rules.

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🔸 Ethereum ETFs saw strong inflows while Bitcoin ETFs experienced outflows; ETH traded near $3,800, Solana approached $200.
🔸 Goldman Sachs and BNY Mellon launched tokenized money-market funds on blockchain, joined by BlackRock and Fidelity.

🔸 Binance Coin (BNB) reached a record $805, regaining a top-five market cap position from Solana.
🔸 Ethereum $ETHUSD stablecoin supply surpassed $140 billion, doubling in 18 months; altcoin market cap and futures open interest surged.

🔸 SEC approved, then paused, Bitwise 10 Crypto ETF conversion—second such reversal in July after Grayscale GDLC.
🔸 Bitcoin $BTCUSD hit a new all-time high above $120,000; BTC dominance fell to 60% as capital rotated into altcoins.