In the crypto market report covering the week of July 15 – 22 prepared by the ICRYPEX Research team, we compiled the current developments regarding crypto assets, price movements of crypto assets and macroeconomy.
You can take a look at the general flow of this report below, and access all the developments that took place in the 7-day period at Weekly Crypto Market Reports: July 15, 2024.
July 15 Weekly Crypto Market Report Overview
Last week, we left behind a week in which some important macro data were announced, especially critical data in the Asian and European regions.
When we examine the performances in the crypto market, Bitcoin completed the week with a 12% gain in value at 68 thousand dollars. Thus, a strong upward movement occurred after the sharp downward movement experienced in the past weeks. On the Ethereum side, there was a 9% weekly value gain and the $ 3500 region was broken upwards. When we look at the Bitcoin dominance chart to see the status of altcoins in this process, BTC.D closed at 55.4% with a 1% gain in value. The total crypto market value decreased to 2.4 trillion dollars.
The most important developments of last week took place on the Ethereum side. Notably, news from CBOE and Bloomberg ETF analyst Eric Balchunas showed that the trading date for spot Ethereum ETFs is approaching, and some ETFs will begin trading on July 23. However, analysts of some important organizations predicted that with the effect of ETFs, the Ethereum price could test the level of 4500 – 5000 dollars, and in addition, there could be an inflow of 12 – 15 billion dollars into ETFs within the first year. In addition, spot Ethereum ETF issuers also set sponsorship fees, indicating that competition will continue, just like in Bitcoin ETFs.
Those who want to get more comprehensive information about the week covering July 15 – 22 can review Weekly Crypto Market Reports: July 15, 2024.
