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Some great price action movements to wake up to this morning, with Bitcoin back above $120K, Ethereum pushing to reclaim $3,500, and your favourite ISO tokens rallying hard. XRP is up 12%, XLM up 8% and HBAR leading with a 14% gain over the last 24 hours.
On Wednesday, we covered the failure of three key crypto regulation bills in the US, which triggered a slight correction in Bitcoin. But that’s flipped fast. Overnight, it’s now been reported that the US House has officially passed the GENIUS Act, the CLARITY Act, and the Anti-CBDC Act. These bills are now set to head to the White House and land on President Donald Trump’s desk, with some expecting them to be signed within the next 24 hours. The passing of these bills marks a major step forward for the digital asset industry, becoming the first significant crypto laws established in the United States.
Ethereum once again takes the spotlight, fuelled by sustained institutional accumulation. BlackRock CEO Larry Fink remains bullish on Ethereum, with BlackRock filing to add staking to their Ethereum ETF. ETF inflows have also been heavily skewed towards Ethereum, highlighting a growing preference for ETH over BTC in this phase of the market. Let’s take a look at the inflows on 16 July:
Ethereum Inflows: +$726.6 million (ETH market cap: $405 billion)
0.179% market cap inflow for ETH
Bitcoin Inflows: +$799.4 million (BTC market cap: $2.37 trillion)
0.0329% market cap inflow for BTC
Ratio = 2.37T / 405B ≈ 5.85
This ratio means Bitcoin’s market cap is roughly 5.85x larger than Ethereum’s, so capital flows have a proportionally bigger impact on ETH price than they do on BTC.
While Bitcoin saw higher net inflows in dollar terms, Ethereum dominated on a market cap-adjusted basis. The $726.6M inflow into ETH is equivalent to a $4.25B inflow into BTC when adjusted for size. In simpler terms, because ETH has a smaller market cap, it takes less money to move its price compared to Bitcoin. If these inflows continue, Ethereum is likely to keep outperforming and pull the market deeper into Altseason.
Stormrake Spotlight: Hyperliquid (HYPE) ($46.39)
Stormrake Spotlight: Hyperliquid (HYPE) ($46.39)
