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Bitcoin falls nearly 2% as markets await key crypto policy report

Economies.com
2025-07-25 11:49AM UTC
AI Summary
  • Bitcoin fell nearly 2% to $116,555.4 amid large wallet activity and caution ahead of the Federal Reserve meeting and crypto regulatory report on July 30
  • Galaxy Digital transferred $395 million worth of BTC to exchanges, while Strategy raised its preferred stock offering to $2.8 billion to expand Bitcoin holdings
  • Altcoins stabilized on Friday, with Ethereum rising 1.8% and XRP climbing 2.8%, while meme coins like Dogecoin edged down 0.4% and $TRUMP token gained 1.7%

Bitcoin slipped during Friday trading, pressured by large wallet activity and growing caution ahead of the upcoming Federal Reserve meeting, which coincides with the release of a major report on digital asset regulations scheduled for July 30.

 

The world’s largest cryptocurrency was last seen trading down 1.8% at $116,555.4 as of 12:45 GMT on CoinMarketCap.

 

This pullback followed a period of relative stability after Bitcoin hit a new record high above $123,000 last week.

 

Meanwhile, other digital assets also showed weak performance on Friday. While altcoins had posted sharp losses on Thursday, they later stabilized during the same session.

 

These moves came amid reports of large-scale selling by major wallets ("whales") and profit-taking driven by relatively elevated price levels.

 

Data from Arkham Intel (Nasdaq: INTC) revealed that Galaxy Digital transferred 3,420 BTC—worth roughly $395 million—to various exchanges within just 20 minutes on Thursday, along with another 250 BTC sent to an unknown address.

 

Fed meeting and crypto regulatory report in focus

 

Traders are now turning their attention to the Federal Reserve’s meeting on July 30. While markets largely expect interest rates to remain unchanged, investors will closely analyze central bank officials’ statements for clues on future monetary policy direction.

 

Meanwhile, White House crypto advisor Beau Hines announced this week that the Digital Assets Working Group has finalized its long-awaited 180-day regulatory policy report, which is set to be released publicly on July 30.

 

The report—mandated by an executive order issued in January—is expected to include details on the volume of Bitcoin seized by the US government, as well as guidance on how those assets are managed.

 

It is also anticipated to outline a comprehensive regulatory framework for the cryptocurrency industry in the United States.

 

Strategy raises preferred stock offering to $2.8 billion – Bloomberg

 

Bloomberg reported Thursday that Strategy (formerly MicroStrategy), listed on Nasdaq under the ticker MSTR, has significantly raised its preferred stock offering from $500 million to $2.8 billion.

 

Proceeds are expected to be primarily used to expand the company’s Bitcoin holdings, which have played a central role in its valuation over the past year.

 

Crypto prices today: Altcoins stabilize after volatile session

 

Most altcoins posted modest gains on Friday, regaining some stability after Thursday’s sharp losses.

 

- Ethereum rose 1.8% to $3,623.89

 

- XRP climbed 2.8% to $3.116

 

- Solana fell 1.6%

 

- Cardano added 3.1%

 

- Polygon advanced 2.8%

 

In the meme coin segment:

 

- Dogecoin edged down 0.4%

 

- $TRUMP token gained 1.7%

 

 

Oil climbs on optimism about trade talks, and concerns about Russian petrol cuts

Economies.com
2025-07-25 11:40AM UTC

Oil prices climbed on Friday, supported by market optimism over a potential trade agreement between the United States and the European Union, as well as reports that Russia plans to impose restrictions on gasoline exports to most countries.

 

Brent crude futures rose by 17 cents, or 0.3%, to $69.35 a barrel by 00:27 GMT. US West Texas Intermediate (WTI) crude gained 15 cents, or 0.2%, to reach $66.18 a barrel.

 

Crude had ended Thursday’s session up by 1%, buoyed by media reports of an imminent cut in Russian gasoline exports, which outweighed news that Chevron might receive US approval to resume operations in Venezuela.

 

According to the Wall Street Journal, President Donald Trump's administration is preparing to allow limited oil activities in the sanctioned OPEC member.

 

The sharp drop in US crude inventories and hopes for a US-EU trade deal aimed at reducing tariffs also bolstered oil futures. Earlier in the week, prices had come under pressure due to concerns over a potential escalation in the global trade war.

 

Tony Sycamore, a market analyst at IG, commented: “I’m optimistic about how crude prices held firm and bounced off the $64–65 support zone this week, which keeps hopes alive for a move toward the $70 mark.”

 

Data from the US Energy Information Administration on Wednesday showed that crude inventories fell by 3.2 million barrels to 419 million barrels last week—more than double the 1.6 million-barrel decline forecast in a Reuters poll.

 

Separately, two European diplomats said on Wednesday that the US and EU are making progress toward a trade deal that could include a 15% base tariff on European imports to the US, with the possibility of exemptions. This could pave the way for another major trade pact following Washington’s recent agreement with Japan.

 

Investor attention is also turning to key economic data expected next week from the world’s two largest economies and biggest oil consumers. The spotlight will be on industrial activity figures from China as well as major US indicators, including inflation, jobs, and inventory levels.

 

Sycamore of IG added, “Next week is going to be packed with important economic data.”

 

 

 

US dollar stabilizes but heads towards biggest weekly loss in a month

Economies.com
2025-07-25 11:36AM UTC

The US dollar index is heading for its largest weekly decline in a month as investors brace for sensitive trade negotiations and central bank meetings next week. Meanwhile, the British pound fell following weaker-than-expected UK retail sales data.

 

Markets widely expect both the Federal Reserve and the Bank of Japan to leave interest rates unchanged in their upcoming policy meetings. However, attention will be focused on post-meeting statements to gauge the timing of any future policy shifts.

 

Politics are also playing a key role, particularly in the US, where President Donald Trump renewed his pressure on the Fed to lower rates during a Thursday visit to the central bank—a move seen as an escalation in his public feud with Fed Chair Jerome Powell.

 

Nevertheless, the dollar managed a modest rebound against the euro late Thursday after Trump said he had no intention of firing Powell—a threat he had previously hinted at multiple times.

 

Derek Halpenny, Head of Research for EMEA at MUFG, said: “The market took comfort in Trump not calling for Powell’s removal, although it was based on his belief that Powell would do ‘the right thing.’” He added, “The Fed’s independence, being undermined by the White House, remains a lingering concern and a downside risk for the dollar.”

 

Dollar Pressured by Euro and Yen Gains

 

Losses against the euro and yen weighed on the US Dollar Index, which measures the greenback’s performance against six major peers. The index dropped to 97.45, down roughly 1% for the week—its worst weekly showing in a month—though it did edge up 0.15% on Friday.

 

Yen Gains Despite Political Uncertainty

 

In Japan, although this week’s trade deal with the US could give the Bank of Japan more room to raise interest rates, the ruling party’s defeat in Sunday’s upper house elections complicates the outlook for monetary policy.

 

Expectations of increased government spending could fuel inflation, boosting the case for tighter policy. However, prolonged political gridlock and renewed global trade tensions argue for a more cautious stance.

 

The yen stood at 147.20 per dollar and is set to post a weekly gain of nearly 1%, despite Friday’s daily decline as investors reassessed the policy outlook and the future of Prime Minister Shigeru Ishiba’s administration.

 

Euro Set for Weekly Gain Versus Pound and Dollar

 

The euro rose slightly to $1.1756, heading for a weekly gain of about 1% as well. It was supported on Thursday by the European Central Bank’s decision to hold interest rates steady at 2%, as expected, while delivering a relatively upbeat tone on the economic outlook.

 

Hopes for a trade deal between the EU and the US also helped temper prior expectations of further rate cuts later this year.

 

Paul Hollingsworth, Head of Developed Markets Economics at BNP Paribas Markets 360, said: “While worsening trade conditions or a sharp fall in inflation might prompt further easing, the ECB appears inclined to hold policy steady. We believe the easing cycle is now complete.”

 

Weak UK Data Supports Euro Against Sterling

 

On the flip side, weak UK data has raised expectations for more rate cuts from the Bank of England. This is causing eurozone bond yields to rise faster than their UK counterparts, boosting the euro against the pound.

 

The euro rose 0.23% versus the pound to 87.26 pence, its highest level since April, after gaining 0.44% the previous day.

 

Friday’s data showed that UK retail sales for June missed expectations, despite recovering from a steep drop in May. Thursday’s figures also revealed weak July business activity and the fastest job cuts in five months.

 

The pound fell 0.3% against the dollar to $1.3471.

 

 

 

Gold retreats for third straight session

Economies.com
2025-07-25 06:05AM UTC

Gold prices declined in European markets on Friday, marking a third consecutive daily loss and retreating further from a five-week high. The drop comes as profit-taking continues, alongside a slowdown in safe-haven demand amid easing global trade tensions.

 

Meanwhile, the US dollar continues to recover in foreign exchange markets, supported by renewed buying from lower levels and ahead of next week’s Federal Reserve policy meeting.

 

The Price

 

• Gold fell 0.35% to $3,358.00 per ounce, down from the session open at $3,368.62, after recording a high of $3,373.62.

 

• On Thursday, gold settled 0.55% lower, posting its second straight daily loss amid ongoing corrections from the recent five-week peak of $3,438.94.

 

Trade Developments

 

Following the major trade agreement between the US and Japan, some EU Commission officials confirmed that the EU and the US are nearing a similar deal. The proposed agreement includes a 15% tariff on European imports, with some goods exempt from US tariffs.

 

US Treasury Secretary Scott Besant stated that US and Chinese officials will meet in Stockholm next week to discuss extending the trade negotiation deadline to August 12.

 

US Dollar

 

The US Dollar Index rose 0.1% on Friday, extending gains for a second session as the greenback continues to recover from a two-week low, supported by renewed buying against a basket of major and minor currencies.

 

Markets largely brushed off President Donald Trump’s visit to the Federal Reserve on Thursday, during which he clashed with Fed Chair Jerome Powell over renovation costs for historic buildings at the Fed's headquarters and demanded rate cuts — familiar rhetoric for investors.

 

US Interest Rates

 

• According to CME Group’s FedWatch Tool, the probability of a 25-basis-point rate cut at the July Fed meeting remains steady at 3%, while expectations for no change stand at 97%.

 

• For the September meeting, the probability of a 25-basis-point cut is stable at 62%, with a 38% chance of rates being held steady.

 

• Market focus remains on next week’s Fed meeting, expected to offer clearer guidance on the interest rate trajectory for the remainder of the year.

 

Gold Outlook

 

Kelvin Wong, Market Analyst for Asia-Pacific at OANDA, noted: “We’re basically seeing some profit-taking from short-term bullish speculators, as optimism surrounding a trade deal is starting to surface in the market.”

 

SPDR Gold Trust

 

Holdings in the SPDR Gold Trust — the world’s largest gold-backed exchange-traded fund — rose by 2.29 metric tons yesterday, bringing the total to 957.09 metric tons, the highest since June 23.