Altcoins Outperform as Rally Gains Steam: Crypto Daybook Americas
2025-07-16 11:42:46
Main Idea
Altcoins are outperforming Bitcoin as the crypto rally continues, with significant inflows into U.S. spot bitcoin and ether ETFs, while market participants await key economic data and legislative developments.
Key Points
1. Bitcoin is up 2% to $119,000, while altcoins like Ether (ETH) have risen 6%, with the CoinDesk 20 index up 3.5%.
2. U.S. spot bitcoin ETFs have seen $700 million in inflows, totaling over $100 billion in BTC holdings, and spot ether ETFs added $192 million in a single day.
3. The House is set to debate the GENIUS Act, a bipartisan bill that could impact yield-bearing stablecoins and potentially boost Ethereum's prominence.
4. Market participants are monitoring U.S. producer price inflation data and Fed rate cut probabilities, with a 97% chance of no cuts this month.
5. Key upcoming events include earnings reports from major crypto-related companies and governance votes affecting token supplies.
Description
By Francisco Rodrigues (All times ET unless indicated otherwise) Traders are waking up to discover the crypto rally still has legs. Bitcoin (BTC) is up 2% over the past 24 hours to $119,000 after U.S. consumer-price data stirred talk that tariffs are feeding inflation. Even though the dollar strengthened after the Tuesday report, demand pushed through, with money flowing into U.S. spot bitcoin ETFs, which are seeing $700 million in total net inflows so far this week. Demand is further supported ...
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