Crypto Market Madness 🚀

The sun was setting over the crypto market, casting a warm glow over the bustling streets of Bitcoin and Ethereum. The air was alive with the hum of computers and the chatter of traders, all eager to make their fortunes in the wild world of cryptocurrency. And what a day it had been! The market cap was up nearly 2%, nearing the $3.80 trillion mark, with Bitcoin, Ethereum, and most other cryptocurrencies trading in positive territory. 🚀

Bitcoin, the flagship cryptocurrency, was up nearly 1% in the past 24 hours, recovering from a low of $117,771 earlier in the session. It had reached $120,000, but lost momentum, slipping below $118,000 before moving to its current level of $118,759. Meanwhile, Ethereum was on an absolute tear, surging past $3,300 and up over 7% at the time of writing. 🤯

But Ethereum wasn’t the only cryptocurrency making waves. Ripple had surpassed $3, with an 8% price increase in the past 24 hours. Solana was up over 5%, trading around $172, while Dogecoin was up almost 7%, trading around $0.211. And let’s not forget about Cardano, Chainlink, Hedera, Stellar, Toncoin, Litecoin, and Polkadot, all of which had registered substantial increases. 📈

The Dow Jones Rises

But the crypto market wasn’t the only one making headlines. The Dow Jones Industrial Average and S&P 500 were up 140 points and 0.16%, respectively, while the Nasdaq Composite registered a marginal increase of 0.04%. The slight increases came as investors assessed earnings reports from banks, including Bank of America, JPMorgan, Morgan Stanley, and Goldman Sachs. 📊

And then there was the news about the producer price index (PPI) numbers, which were released on Wednesday. June PPI rose 2.3% year-over-year, the lowest since September 2024, and below the forecasted 2.5% increase. PPI remained flat on a month-over-month basis, below an expected increase of 0.20%. Economist Mohamed El-Erian stated, “US producer price inflation for June was softer than the consensus forecasts, with no monthly change for the headline and core measures. Annual inflation moderated to 2.3% and 2.6% respectively.” 📝

Crypto Bills Progress

In other news, House Republican leaders agreed to move forward with three crucial crypto bills stuck in a procedural vote, as Republican hardliners refused to back down on central bank digital currencies (CBDCs). The vote was open for more than nine hours, the longest in the House’s history, eventually passing late on Wednesday with a 217-212 vote. 🗳️

Coinbase Unveils New “Everything App”

Coinbase has launched the Base App, calling it a new “everything app” that integrates payments, trading, social media, and app discovery into a single platform. The platform made the announcement during the “A New Day One” livestream on July 16. The new app was introduced as a major rebrand and expansion of the Coinbase Wallet. 📱

Coinbase described the app as a place where users can post, chat, send money, trade, and earn. The app’s social features are powered by Farcaster, allowing users to publish content, earn income, and preserve their identity across apps. The app also integrates Base Pay, a feature that allows users to pay in USDC across supported platforms. 💸

World Liberty Financial To Make WLFI Token Tradable

The World Liberty Financial community has unanimously voiced its support to make the WLFI token tradable. The proposal closed on July 16 with a 99.94% approval after a week-long vote that began on July 9. The move will enable the WLFI ecosystem to move to a more open system, allowing peer-to-peer transfers and access to secondary markets. 📈

Bitcoin (BTC) Price Analysis

Bitcoin is marginally down during the ongoing session, trading around $118,346, as buyer momentum stalled around the $120,000 mark. BTC started the week positively, surging past $123,000 to set a new all-time high. However, it lost momentum and fell to a low of $115,701 on Tuesday before settling at $117,682. 📊

Despite reaching a record high earlier this week, analysts believe the BTC market is not overheated, suggesting that the price has more room to push higher. TradingView data shows that BTC has established a new range in lower timeframes as it trades above key support levels. 📈

Ethereum (ETH) Price Analysis

Ethereum’s rally is showing no signs of stopping, as it surges past key levels. The world’s second-largest cryptocurrency overcame selling pressure on Tuesday, recovering from a low of $2,932 to reclaim $3,000 and settle at $3,140. Bullish sentiment intensified as ETH crossed $3,300 and settled at $3,374. 🚀

ETH’s rally comes as demand for Ethereum ETFs is through the roof. Data from SoSoValue shows that US Ethereum ETFs registered net inflows of over $700 million on July 16, the highest to date. 📈

Solana (SOL) Price Analysis

Solana faced substantial selling pressure on Tuesday, plunging to an intraday low of $157. However, it rebounded from this level, rising over 1% to reclaim $160 and settle at $164. Bullish sentiment intensified on Wednesday as the price rallied, rising nearly 6% and settling at $173. 📈

Dogecoin (DOGE) Price Analysis

Dogecoin registered a sharp drop on Friday, dropping over 5% to $0.163. The price recovered from this level, rising almost 1% on Saturday and over 4% on Sunday to settle at $0.171. DOGE was back in the red on Monday, dropping over 2% to $0.167. However, the price recovered on Tuesday, rising nearly 2% to $0.171. 📈

Aptos (APT) Price Analysis

Aptos traded in positive territory the previous weekend, rising 0.36% on Saturday and 1.23% on Sunday to settle at $4.47. The price registered a marginal decline on Monday but recovered on Tuesday, rising 0.33%. Buyers retained control on Wednesday as APT rose nearly 4%, crossing the 20-day SMA and settling at $4.64. 📈

Internet Computer (ICP) Price Analysis

Internet Computer started the previous weekend in bearish territory, registering a marginal decline on Saturday. The price recovered on Sunday, rising nearly 2% to $4.85. However, it was back in the red on Monday, dropping 1.44% to $4.78. Buyers returned to the market on Tuesday as ICP rose 1.26% and settled at $4.84. 📈

2025-07-17 19:27