'Crypto Week' Legislation Would Overhaul U.S. Crypto Policy — Market Talk

BlackRock’s iShares Bitcoin Trust (IBIT) is racing toward $100 billion in assets, a milestone it could reach before the end of July. Following a surge in inflows and a robust Bitcoin rally, IBIT’s total net assets have soared to approximately $88 billion — just $12 billion away from that threshold.

Trading at around $69 on the NASDAQ, IBIT is not only the largest Bitcoin fund on the market but also BlackRock’s most profitable ETF overall, according to Bloomberg’s Eric Balchunas.

Despite being only 1.5 years old, IBIT has jumped to become the 20th largest ETF in the U.S. and the 7th largest under BlackRock’s umbrella — a growth curve that is practically unheard of in the ETF world.

A key factor behind this explosion is the type of demand driving it. While critics claim there is little retail interest in this cycle, the numbers suggest otherwise. Of the approximately $150 billion currently held in U.S. Bitcoin ETFs, about $135 billion come from direct retail purchases or advisors buying on behalf of retail clients.

Last Friday, IBIT saw nearly $1 billion in daily inflows and $2.72 billion for the week. IBIT currently holds more than 3.6% of Bitcoin’s total supply.

TL;DR

Can the Bears Regain Control?

Bitcoin (BTC) took center stage today (July 14), with its pricereachinga historic peak of over $123,000. Its market capitalization exceeded $2.4 trillion, thus flipping Amazon and becoming the fifth-largest asset in the world.

The rally has undoubtedly infused a huge enthusiasm across the crypto community, and many expect the bull run to continue in the following days and weeks. However, investors should also be cautious, as there are some important factors suggesting that BTC could reverse its trajectory soon.

One such element is the Relative Strength Index (RSI), which has entered bearish territory at around 75. This indicates the valuation has risen too quickly over a short period and may be poised for a correction.

Next on the list is BTC’s exchange netflow. The graph below shows that in the last four days, inflows have surpassed outflows, which usually leads to increased selling pressure.

We now shift attention toward BTC’s Fear and Greed Index, which has remained in Greed or Extreme Greed territory since the end of June.

This reflects rising optimism and growing demand for the asset, though it’s worth remembering that the crypto market is notoriously unpredictable, and the prices often move against the crowd’s expectations.Bonus: the Miners

Another bearish factor is the recent activity of the miners. The popular X user Ali Martinez revealed that those industry participants have offloaded over 3,000 BTC in less than a week.

Miners have sold over 3,000 Bitcoin $BTC since Thursday! pic.twitter.com/8Y0rLAW0I5

— Ali (@ali_charts) July 14, 2025

Sell-offs of that type could reflect a lack of confidence by the miners or their desire to take profits during the price pump. Either way, this leads to increased supply on the open market, which might be followed by a dip if demand doesn’t react accordingly.

This demand, though, has been more than evident in the past few weeks. As reported yesterday, even smaller investors, such as those referred to as “shrimps,” “crabs,” and “fish,” have been accumulating more BTC per month than the average production by all miners.

Ethereum's price action produced a strong bullish signal. ETH has surged past the $3,000 mark with increasing volume and steady momentum following months of consolidation between $2,500 and $2,800. The formation of a rarely seen technical signal is the cross of the 100-day EMA over the 200-day EMA, which is even more bullish than the breakout alone.

The traditional golden cross, in which the 50-day EMA crosses above the 200-day EMA, is the focus of most traders' attention, but the 100/200 cross is a completely different animal. It indicates not only medium-term bullishness but also the potential for a structural change in the long-term trend's trajectory.  Chart by TradingView">

The 100/200 EMA crossover on the stock and cryptocurrency markets has only ever happened at critical turning points in the past, frequently following protracted declines that take months to recover from. It is important because the 50-day EMA is extremely sensitive to shorter swings and can result in false positives when conditions are choppy.

Much of that noise is muted by the 100-day EMA, which bends its slope upward only after a prolonged directional move. It signals that longer-term investors are also reentering the market and making consistent capital commitments when it eventually surpasses the 200-day EMA. Since the price is currently trading well above the 50-day, 100-day and 200-day EMAs, it is evident that ETH has regained control of all of the major moving averages on the chart. 

Strong overbought momentum, which is common in the early phases of significant bullish transitions, is reflected in the RSI's hovering around 74. Because of this the current move is distinct from the false breakouts that occurred in late 2024 and early 2025, when shorter-term averages crossed but failed as volume dried up. 

There is currently a technical argument that the larger Ethereum bear phase is coming to an end as the 100-day EMA is about to surpass the 200-day. If the crossover is confirmed within the next few weeks, ETH may be preparing for a long run in the $3,500-$4,000 range. The $3,200 resistance level, however, is where traders should watch out for profit-taking, as it will probably decide whether the breakout turns into a real long-term trend shift or just another failed rally.

Solana is maintaining a steady lead over Ethereum and Tron , as well as other layer-1 and layer-2 blockchains. The Solana blockchain has outperformed these other protocols in terms of network revenue in the last 16 weeks.

SOL network revenue highlights usage

In an update shared by SolanaFloor, Solana has generated over $17 million in transaction fees and out-of-protocol tips. According to the data, Solana has raked in $17,373,751, which is over $3 million more than its closest competitor, Tron.

Tron has a total of $14.15 million, while Ethereum was able to register $11.6 million in revenue as of July 13, 2025.

Notably, network revenue refers to the total amount of fees that users in the ecosystem pay for transactions. Other payments include smart contracts and other on-chain activities on the blockchain. It also consists of any priority fees paid by a user to ensure faster processing of transactions.

The revenue lead signals Solana’s increasing adoption for decentralized finance as a result of its high transaction throughput. In terms of throughput, Solana dwarfs Ethereum with up to a theoretical 65,000 TPS as against 30 TPS.

Solana’s ability to maintain the lead in generating more revenue than any other L1 and L2 blockchain for 16 weeks in a row signals massive dominance. It is a strong indication of the traction the Solana has among users in the crypto space.

Solana lags behind in market performance

Meanwhile, in the broader ecosystem, Solana and Bullish, a leading institutional crypto exchange, have partnered in an integration move. Notably, Bullish will rely on Solana-native stablecoins for its operations.

The development signals Solana’s growing competitive edge in the global financial space.

Despite this lead in revenue, SOL has not increased much in value in the ongoing price rally. While Ethereum has succeeded in flipping the $3,000 mark and targeting $4,000, SOL has been left behind.

Ondo Finance said Monday it has acquired blockchain developer Strangelove in an effort to bolster its ability to bring real-world assets onchain.

"This acquisition reinforces our commitment to building the foundational infrastructure to bring financial markets onchain," Ondo founder and CEO Nathan Allman said in a statement.

Ondo's acquisition of Strangelove follows the crypto firm saying earlier this month that it and fund manager Pantera Capital plan to invest $250 million in RWA projects. Then, in short order, Ondo said it would acquire Oasis Pro and gain access to a broker-dealer licensed by the U.S. Securities and Exchange Commission.

The tokenization of real-world assets like securities, real estate, private credit, and several other valuable assets has been gaining momentum in recent months. Efforts to bring U.S. equities and private company shares have, in particular, attracted a lot of interest as of late. A joint report from Ripple and Boston Consulting Group projects that the tokenized asset market could exceed $18 trillion by 2033.

In its statement explaining its motivation for buying Strangelove, Ondo said the acquisition would position it "as the only full-stack tokenized asset platform with omnichain asset issuance." The firm added that "Strangelove’s engineering depth and proven execution will help us bring scalable, interoperable financial products to a global audience."

According to Ondo's statement, Strangelove is a validator "focused on designing, deploying, and maintaining open-source infrastructure across multiple blockchain ecosystems."

Strangelove CEO Jack Zampolin will slide into the new role of Ondo Finance's Vice President of Product, the companies said.

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© 2025 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

Longtime Bitcoin critic Peter Schiff has once again drawn the ire of Bitcoin proponents, this time downplaying Bitcoin’s latest price surge while praising silver's climb to a 12-year high.

In a recent tweet, Schiff wrote, "The silver train keeps on quietly chugging along. This morning it's above $39, its highest since Feb. 2012. The rise in silver is far more significant to the real world than Bitcoin's new high. Industries that need silver will now have to pay more to buy it. No one needs Bitcoin."

As Bitcoin gains traction, recently topping $123,000, Schiff, a gold advocate, remains staunchly opposed to Bitcoin, reaffirming his long-held conviction that it lacks inherent value and real-world utility while touting support for silver.

Schiff's support for silver is not new; last week, when Bitcoin hit $118,000 for the first time, the longtime Bitcoin critic said that the latest BTC advance could be a selling opportunity for investors to buy silver instead.

Schiff's comments amid a historic Bitcoin rally did not sway Bitcoin proponents, who flooded his X post with positive Bitcoin comments.

Bitcoin marks record high

Schiff's reaction came after Bitcoin hit a new all-time high in the early Monday session, over $123,000. At press time, Bitcoin was up 3% in the last 24 hours and 12.58% weekly.

Bitcoin hit a record high of $123,231 early Monday before falling slightly to trade below $122,000.

According to CoinMarketCap, the flagship cryptocurrency traded at $121,509, giving it a current market valuation of $2.41 trillion.

10x Research CEO Markus Thielen has set a year-end Bitcoin goal target range of $140,000 to $160,000, but significant risk remains in the U.S. Federal Reserve's continued hawkish policy and potential interest rate hikes.