Crypto markets had a strong week, led by bitcoin (BTC) increasing 12.4% and ether (ETH) rising 9.4%, pushing the Nasdaq Crypto Index^TM (NCI^TM) up 11.9%. BTC rebounded strongly  into its consolidation range between $60,000 and $70,000 and market participants prepared for the launch of US spot ETH ETFs this week. 

 

 

Spot ETH ETFs to launch on July 23

The launch of several spot ETH ETFs is expected on Tuesday, representing a significant institutional endorsement of ETH as an investable asset and helping boost demand for crypto assets beyond BTC into mainstream portfolios.

 

Crypto proves resilient during global IT outage

Bitcoin and other crypto networks functioned smoothly during last week’s major IT outage that disrupted centralized services worldwide. Prominent community figures such as former Bitcoin Core developer Jeff Garzik and Bitcoin wallet co-founder Jameson Lopp noted the stability of decentralized networks in contrast to the failures of centralized systems. US Senator Cynthia Lummis also highlighted Bitcoin's durability, with its 99.99% uptime since inception. 

 

Bitcoin and Ether lead $17.8B crypto inflows

 

Record inflows of over $17.8 billion into digital asset investment products have been recorded so far this year, significantly exceeding the previous record of $10.6 billion set in 2021. BTC product inflows helped it surpass the $60,000 mark again, while ETH products also saw substantial inflows driven by anticipation surrounding spot ETFs in the US. 

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