Crypto market recap: Bitcoin steadies as altcoins post mixed performance
Bitcoin (BTC) is trading around $115,414, marking a modest intraday gain of roughly 0.5%, with a range between $114,608 and $116,997. Ethereum (ETH) sits near $4,270.50, up approximately 0.75% intraday, fluctuating between $4,205.73 and $4,385.73.
Despite these small gains, the broader sector is experiencing a pullback from last week’s highs—Bitcoin fell about 2.3% to around $115,494, and Ethereum dropped as much as 5.2% to $4,335, as investors locked in profits after recent rallies.
The retreat is tied to softer-than-expected wholesale price data and signals that the U.S. Treasury won’t boost Bitcoin reserves—dampening optimism for imminent Federal Reserve rate cuts.
Meanwhile, altcoins are mixed: XRP is up roughly 1.5%, while Solana and Dogecoin pulled back—Solana by about 0.8% and Dogecoin more significantly.
Institutional Activity and IPO Buzz Continue
Despite market softness, institutional interest remains resilient. Gemini Space Station, founded by the Winklevoss twins, filed for an IPO this week—highlighting continued ambition for crypto firms to tap public capital markets.
Furthermore, Amsterdam-based crypto firm Amdax revealed plans to launch AMBTS (Amsterdam Bitcoin Treasury Strategy), aiming to list it on Euronext Amsterdam and accumulate at least 1% of total Bitcoin supply, underscoring growing institutional strategies in crypto treasury management.
Policy & Sentiment: Stablecoins and Regulation in Focus
Regulatory momentum is building globally. In the U.S., the GENIUS Act, a significant stablecoin regulation law, was signed earlier this summer, mandating that stablecoins be backed 1-to-1 by low-risk assets—bringing clarity and consumer protections to the market.
In India, the Central Board of Direct Taxes (CBDT) initiated stakeholder consultations to assess the current 1% TDS (tax deducted at source) on virtual digital assets (VDAs) and explore revisions—including allowing traders to offset losses—signaling a push for refined crypto compliance.
The regulatory developments, combined with macroeconomic signals, continue to exert influence on investor sentiment—favoring long-term institutional players even as retail traders exercise caution.
Recently we wrote that the U.S. Securities and Exchange Commission (SEC) has once again postponed decisions on a broad range of cryptocurrency exchange-traded fund (ETF) applications, moving most deadlines to October 2025.
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