Crypto Market Shows Bullish Momentum Amid Institutional Growth and Regulatory Developments

The market experienced notable fluctuations with Bitcoin testing levels around $119,000 and increasing dominance for the second day, while altcoins faced declines. Over $963 million in long positions were liquidated overnight, with Ethereum and XRP constituting the major parts of these liquidations. Despite a $86 million outflow from Bitcoin ETFs yesterday, spot ETFs for Ethereum attracted $4.4 billion over 14 sessions, highlighting differing investor interests. Options expiry on Deribit today shows significant open interest with $BTC strikes at $112,000 and $ETH at $2,800, totaling approximately $15.4 billion. Major centralized exchange flows indicate substantial inflows for PEPE and ENS, while MKR and AAVE saw exits. On the institutional front, Quantum Solutions committed over $500 million to Bitcoin, and Satsuma Technology raised £100 million, with all funds directed toward Bitcoin purchases. BitMine acquired $2 billion worth of Ethereum, and prominent investor Tim Draper announced the Draper VIII fund with a focus on Bitcoin, DeFi, and Web3. Macro policies see the US President signing the GENIUS law to regulate digital assets, Ghana moving toward licensing crypto firms, and Hong Kong criminalizing unlicensed stablecoins from August 1st. Tether plans to launch an institutional stablecoin for US corporate clients. Australia’s court recognized Finder's Earn as a non-financial instrument, while Russia opened its first case concerning "dropper" activities. Technologically, $SOL developers proposed increasing the block limit by 66%. Binance introduced a high-yield stablecoin USYC, and collaborations to launch stablecoins compatible with the new legislation are underway. Coinbase has halted trading on specific perpetual contracts for protocol upgrades. Rumors include the activation of dormant whale addresses from 2011 holding 3,962 BTC, and the Pifagor ALTS 3.5 indicator identifies Notcoin ($NOT) as a potential medium-term trading candidate. Market metrics show a total cap of $3.93 trillion, a 24-hour trading volume of $268 billion, and an investor greed index at 71.