VanEck Mid-July 2025 Bitcoin ChainCheck
Main Idea
Bitcoin reaches new all-time highs amid favorable macroeconomic conditions, while Ethereum ETPs attract significant investment, impacting Bitcoin's market dominance.
Key Points
1. Bitcoin (BTC-USD) hits new all-time highs (ATHs) driven by macroeconomic tailwinds.
2. Miners are being reevaluated based on their pivot to AI, but performance varies.
3. Ethereum ETPs drive market rotation, attracting a record $2.2 billion during 'Crypto Week'.
4. Bitcoin's market dominance is affected by the influx of investment into Ethereum ETPs.
Description
Summary BTC surged to new all-time highs above $123K, fueled by dollar weakness, rising fiscal pressures, and the House’s passage of pro-crypto bills during July’s “Crypto Week." The Core Scientific-CoreWeave deal validated AI infrastructure pivots, but shareholder dilution and strategic absorption sent a warning: execution matters. ETH ETPs pulled in $2.2B during Crypto Week—nearly 30% of their all-time flows - triggering ETH/BTC outperformance and the sharpest BTC dominance drop of the year. B...
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