Crypto Market Sees Altcoins Leading the Charge as Rally Picks Up Pace

By Francisco Rodrigues (All times ET unless otherwise stated) The cryptocurrency market is witnessing a sustained rally, with traders discovering that the upward trend still has momentum. Bitcoin, currently priced at $119,000, has seen a 2% increase over the past 24 hours, following the release of U.S. consumer-price data that sparked discussions about the impact of tariffs on inflation. Despite the strengthening of the dollar after Tuesday's report, demand has persisted, with significant investments flowing into U.S. spot bitcoin ETFs, which have accumulated $700 million in total net inflows so far this week. Corporate treasuries are further fueling demand, with Bitcoin Treasuries data indicating that they now hold 859,993 BTC, valued at over $100 billion. This figure is expected to continue growing, with Cantor Fitzgerald Chairman Brandon Lutnick engaged in advanced discussions for a $3 billion bitcoin treasury deal. Notably, altcoins are outperforming, with the CoinDesk 20 (CD20) index experiencing a 3.5% increase. Ether has risen by 6% in the past 24 hours, surpassing $3,100 and reaching its highest level since February, as companies begin to consider it a viable candidate for corporate treasury adoption. SharpLink Gaming has recently overtaken the Ethereum Foundation as the largest corporate holder of ETH. According to Strategic Ether Reserve data, companies now hold 1.6 million ETH. Additionally, spot ether ETFs in the U.S. added $192 million yesterday, bringing the weekly total to $451.3 million. Crypto investors are eagerly awaiting the House debate on the GENIUS Act, a bipartisan bill that could potentially halt yield-bearing U.S. stablecoins while providing greater clarity for stablecoin issuers. President Donald Trump has stated that Republican lawmakers who initially objected to a trio of crypto bills, including the GENIUS Act, are now prepared to approve them. If the bills pass, funds currently invested in stablecoin interest may shift to staking and other ether-based strategies. According to Markus Thielen, founder of 10x Research, this could potentially reinforce Ethereum's importance within the digital asset ecosystem. Looking ahead, the release of producer price inflation by the U.S. Bureau of Labor Statistics will be closely monitored, along with speeches by several Fed governors for hints on the central bank's monetary policy, as Trump advocates for rate cuts. Currently, both the CME FedWatch Tool and Polymarket indicate a 97% chance that rate cuts will not occur this month. Remain vigilant! Key Events to Watch Token Events Conferences The CoinDesk Policy & Regulation conference, a one-day boutique event scheduled for September 10 in Washington, will bring together general counsels, compliance officers, and regulatory executives to meet with public officials responsible for crypto legislation and regulatory oversight. Space is limited, and attendees can use the code CDB10 for a 10% discount on registration until July 17. Token Talk By Shaurya Malwa Derivatives Positioning Market Movements Bitcoin Statistics Technical Analysis Crypto Equities ETF Flows Spot BTC ETFs Spot ETH ETFs Source: Farside Investors Overnight Flows Chart of the Day While You Were Sleeping In the Ether