This week in crypto, Bitcoin hovered just below its all time high as the market absorbed a range of impactful developments across policy, finance and blockchain innovation. A sharp decline in BTC held on exchanges signalled tightening supply dynamics, while mining stocks surged in anticipation of bullish momentum. At the same time, landmark ETF approvals in the US and Ripple’s banking licence application marked a deepening alignment between crypto and traditional finance. With macro uncertainty looming over the expiration of a key tariff pause and sweeping economic reforms set to be signed into law by President Trump, investors are watching closely for signals that could shape market direction in the weeks ahead.

Bitcoin continued to consolidate just beneath the all time highs set in May, supported by long term accumulation trends. Data shows that less than 15 percent of total BTC supply remains on centralised exchanges, reinforcing the narrative of reduced sell pressure and rising investor confidence. This supply squeeze, combined with post-halving stability, helped drive a rally in Bitcoin mining stocks, many of which posted double digit gains this week. The sector’s equity performance is often seen as a proxy for institutional sentiment and infrastructure health, suggesting growing conviction in Bitcoin’s strength through 2025. However, traders remain cautious due to the expiry of a three month pause on US tariffs, initially implemented after a market crash in April. The suspension, which ends July 8, could reintroduce short term volatility as markets adjust to the renewed economic headwinds.

On the macro and institutional front, this week saw significant milestones. The first ever US staked crypto ETF launched with Solana at its core, offering traditional investors the ability to earn staking rewards within a regulated vehicle. This product bridges decentralised yield with mainstream accessibility, underscoring the appeal of yield generating crypto assets in traditional portfolios. Adding to the momentum, the SEC approved the conversion of Grayscale’s large cap crypto fund into an ETF. The diversified basket includes Bitcoin, Ethereum, Solana, XRP and Cardano, reflecting strong institutional appetite for high cap liquidity and multichain exposure. These developments mark a clear shift toward more regulated crypto offerings, with ETFs emerging as the preferred vehicle for large investors seeking scalable and compliant access to digital assets.

In the regulatory arena, Ripple made a bold strategic play by applying for a US banking licence. Following in the footsteps of Circle, the move signals Ripple’s ambition to operate more deeply within the regulated financial system. A banking licence would allow Ripple to offer custodial services, lending products and potentially expand its cross border payment solutions under federal oversight. For XRP holders, the announcement may serve as a catalyst by reinforcing confidence in Ripple’s long term vision and integration with traditional finance. As regulatory clarity improves, such developments could accelerate institutional adoption and enhance the perceived legitimacy of crypto firms in the eyes of mainstream investors.

Meanwhile, innovation in the decentralised economy continued at pace, with real world asset tokenisation gaining traction on the Aptos blockchain. The total value of tokenised assets surpassed US540 million dollars, fuelled by deployments from major traditional asset managers. This signals a growing appetite to bring physical and financial assets on chain, leveraging blockchain for transparency, efficiency and global liquidity. Aptos’s rise in this space highlights the increasing role of next generation blockchains in enabling real world utility and bridging legacy finance with decentralised infrastructure. As the tokenisation trend expands, it may unlock new capital flows and create novel investment opportunities for both institutions and retail users.

Looking ahead, the market faces a complex mix of bullish fundamentals and external risks. Bitcoin’s tightening supply and institutional inflows support a strong mid term outlook, while regulatory advances provide a foundation for broader adoption. However, the reintroduction of US tariffs and the implementation of President Trump’s sweeping economic bill on Independence Day may inject short term volatility into global markets. With crypto sitting at the intersection of policy, innovation and investment strategy, the weeks ahead will be critical in determining whether the current consolidation phase evolves into a fresh breakout or a period of recalibration.

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