After a semester of impressive performance, major cryptocurrencies are experiencing a slight pullback, signaling a welcome consolidation phase. Despite a moderate retreat, Bitcoin remains supported by record inflows into Spot ETFs, reflecting growing institutional investor interest. Ethereum follows a similar trajectory with spectacular gains, fueled by significant financial inflows and an increasingly favorable regulatory environment for digital assets. Let’s review these developments and analyst perspectives.
Latest Macroeconomic Developments
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Bitcoin Taking a Breath
After hitting a new all-time high of $123,000 in July, Bitcoin (BTC) has pulled back about 3% this week, hovering around $115,000. This decline fits into a consolidation phase after four consecutive months of gains (+40% total since April). -
Record Inflows into Bitcoin Spot ETFs
Institutional interest remains strong: since April, Bitcoin Spot ETFs have seen net inflows of $16.8 billion, pushing total assets under management to a record $152 billion. -
Ethereum Follows the Same Path
Ether (ETH) has more than doubled in price since April, rising from $1,780 to nearly $3,700, driving significant inflows into Ethereum Spot ETFs (+$5 billion net inflows in July alone). -
More Favorable Regulatory Environment
In the U.S., the political and regulatory climate is improving, bolstering the legitimacy of crypto assets. The rise of Spot ETFs supports this momentum by facilitating greater institutional access.
Analyst Recommendations
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Bitcoin: Analysts remain bullish medium-term, viewing the current consolidation as healthy after a rapid price surge. Institutional support through ETFs continues to be a key catalyst.
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Ethereum: The outlook remains positive, driven by growing adoption of DeFi solutions and expanding derivatives and Spot ETF markets.
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General View: Cryptocurrencies operate in a technically solid environment structurally supported by institutional inflows. Analysts advise vigilance regarding regulatory announcements and the inherent volatility of the market.