Crypto Chaos Calms Down, Congress Prepares for “Crypto Week” – Get Ready for Some Serious Coin Talk! 💸📈

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The report also notes that U.S. spot Bitcoin ETFs attracted $1.3 billion in net inflows over the past five trading days, pushing total inflows close to $50 billion. Ethereum ETFs followed with $297 million in inflows, slightly up from the previous week.

In Washington, Republican lawmakers in the House of Representatives have designated the week of July 14–18 as “Crypto Week,” during which three major crypto-related bills will be considered. The legislative focus comes as pressure mounts to create a clearer regulatory structure for the industry.

Meanwhile, U.S. economic data showed stronger-than-expected job growth in June, with nonfarm payrolls rising by 147,000. The unemployment rate fell to 4.1%, even as private sector job creation hit a new low since March 2023. Federal Reserve Chair Jerome Powell said rate cuts would likely be on the table already if not for the inflationary risks posed by new tariff proposals from President Trump. Market expectations for a July rate cut have dropped to 5%, down from 18% last week.

Market conditions reflected the mixed macro signals. The overall crypto price index rose 1.71%, while volume and volatility indices declined by 5.98% and 14.78%. BTC and ETH gained 1.9% and 3.3%, respectively. Volatility decreased sharply for tokens like XRP and ONDO, though Solana saw a spike due to increased ETF-related activity.

Looking ahead, investors will be watching interest rate decisions from Australia and New Zealand, along with the release of the U.S. FOMC minutes, as potential catalysts for the next market move.

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2025-07-07 16:15