Why Is Crypto Up Today? – July 17, 2025
The crypto market is up today, with individual coins – particularly in the top 10 category – seeing notable increases. 90 of the top 100 coins per market cap have appreciated over the past 24 hours. That said, the cryptocurrency market capitalization has decreased by 2% to $3.88 trillion. Nonetheless, the total crypto trading volume is at $240 billion. These levels have remained similar for the past three days.
TLDR:
- The crypto market is still increasing, with 90 of the top 100 coins rising;
- BTC is unchanged, standing at $118,085;
- ETH is the top 10’s best performer, trading at $3,425;
- Market sentiment remains firmly in the greed zone;
- US BTC and ETH spot ETFs recorded positive flows, with the latter breaking records;
- The market has just entered into a near-term overheated condition;
- ”Where the institutional money flows, innovation follows”;
- ”Innovations within Bitcoin DeFi are laying the groundwork for Bitcoin transformation.”
Crypto Winners & Losers
At the time of writing, all the top 10 coins per market cap are green. Most increased above 3.5%.
However, Bitcoin (BTC) is currently up only 0.1%, meaning that the price has remained the same, standing at $118,085. It’s the smallest increase in the category.
At the same time, Ethereum (ETH) saw the highest increase in this category yet again. It’s consistently outperforming its peers in this metric. It’s up 9%, currently trading at $3,425.
XRP (XRP) is the second-highest gainer. It’s up 7.7% to the price of $3.15.
In the top 100 coins category, four saw double-digit rises, three of which above 20%, and the fourth being very close.
Floki (FLOKI) is up 35.7%, now changing hands at $0.0001294. This is followed by Curve DAO (CRV)’s 24.5% to $1.01.
On the other hand, yesterday’s winner Pump.fun (PUMP) dropped the most today. It’s down 18.6% to $0.005329.
Pudgy Penguins (PENGU) saw the only other double-digit fall. The rest of the red coins are down by less than 3% each.
The market has continued the rally on the accelerating institutional interest, as well as favorable regulatory developments in the US, with three pieces of crypto legislation moving to the next step of approval.
Notably, eyes are now on ETH’s performance, as the price is making its way towards that key $4,000 mark.
Meanwhile, the U.S. House of Representatives voted to pass a procedural motion that allows the GENIUS stablecoin bill, the Digital Asset Market Clarity Act, and the Anti-CBDC Surveillance State Act to proceed to final votes.
The GENIUS Act already passed the Senate in June with bipartisan support. It could land on the president’s desk this week.
However, Congresswoman Maxine Waters argued that these three pieces of crypto legislation would create “a casino for crypto billionaires to make more profits.”
“These bills throw hardworking Americans under the bus, putting them at risk for a future financial crisis—all to legitimize Donald Trump’s crypto scams,” Waters said.
‘Where Institutional Money Flows, Innovation Follows’
According to Glassnode, Bitcoin’s latest consolidation phase saw heavy accumulation in the $93,000–$97,000 and $104,000–$110,000 zones.
“Breaking above these dense supply clusters may now establish strong support, forming a potential foundation for future market pullbacks,” the report says.
Bitcoin now enters a new phase of price discovery. At the same time, the majority of the supply is held in profit.
Notably, Glassnode says, while there is still potential for another leg higher, “the market has just entered into a near-term overheated condition.”
Source: Glassnode
Meanwhile, Dom Harz, co-founder of Layer-2 BOB, noted a surge in interest from institutions building out Bitcoin treasuries. That said, “as the infrastructure matures and innovation thrives, Bitcoin is poised to become far more than a store of value.”
Innovations within Bitcoin DeFi are laying the groundwork for this transformation, Harz says. This will enable institutions to hold Bitcoin, but also to put the coins to work through DeFi applications.
Harz also commented on the current Crypto Week happening in the US, describing it as a historic moment for Bitcoin and crypto in general.
He continues: “With BTC breaking past $122,000 over the weekend, a new all-time high, the price is reflecting the convergence of increased institutional inflows, growing confidence in digital assets as foundational infrastructure, and importantly, a call for regulatory clarity.”
Therefore, Crypto Week shows “a consolidated push towards alignment on a framework that empowers innovation through clarity; the kind of innovation that will unlock blockchain’s true potential. Bitcoin DeFi, in particular, remains the industry’s greatest opportunity,” Harz concludes.
Levels & Events to Watch Next
At the time of writing, BTC trades at $118,085. Yet again, the coin saw choppy 24 hours of trading. It began this period with $118,186, rising to the daily high of $120,008.
It has been decreasing since, however, moving back towards the intraday low. The market watchers are now waiting for the price to reestablish itself within the $120,000 territory and hold it.
Bitcoin Price Chart. Source: TradingView
Moreover, Ethereum is currently trading at $3,425. Its rise has been steadier than BTC’s over the past day. It started at $3,162, decreased slightly to the intraday low of $3,148, before rising to its current level, which is also its daily high.
Notably, the next major upside targets are $3,454 and $3,757. However, market participants are also eyeing the $4,000 mark, which has now entered the realm of possibility.
Additionally, ETH surpassing the $3,280 mark for the first time since February placed it less than 10% away from breaking out of a four-year channel that restrained it from reaching its ATH of $4,891, recorded in 2021.
Meanwhile, the crypto market sentiment still stands firmly in greed territory. The Fear and Greed Index increased from 68 yesterday to 70 today.
It suggests a willingness to invest and a positive view of the market. Further increases could suggest that the market is becoming overbought.
Source: CoinMarketCap
Furthermore, on 16 July, the US BTC spot exchange-traded funds (ETFs) saw additional positive flows. This marks the tenth day in a row. Inflows reached $788.4 million, nearly double than a day before. Moreover, this is the record-high amount, significantly surpassing the previous $428.44 million. With that, the total net inflows hit $6.48 billion.
BlackRock saw the highest share of this amount again, recording $763.89 million. Ark & 21 Shares, Fidelity, and Grayscale account for the rest.
Source: SoSoValue
At the same time, US ETH ETFs saw positive flows for the ninth day in a row, recording a whopping $726.74 million on 16 July.
Of this amount, BlackRock recorded $499.25 million, and Fidelity took in $113.31 million. Six other funds saw inflows. There were no outflows again.
Source: SoSoValue
Meanwhile, Tom Lee, chief investment officer at Fundstrat and chairman of Bitmine Immersion Technologies, argued that the growth of stablecoins, in addition to Wall Street’s tokenization of real-world assets, is fueling interest in the Ethereum blockchain.
Moreover, Ethereum has seen increased transaction activity as investor interest grows.
Meanwhile, Senator Cynthia Lummis commented on the recent reports that the U.S. is holding about 85% less in its Bitcoin Reserve than previously thought.
“I’m alarmed by reports that the U.S. has sold off over 80% of its Bitcoin reserves – leaving just ~29,000 coins,” Lummis said. “If true, this is a total strategic blunder and sets the United States back years in the Bitcoin race.”
Quick FAQ
- Why did crypto move with stocks today?
The crypto market has increased over the past 24 hours, and the US stock market rose on Wednesday as well. The S&P 500 is up by 0.32%, the Nasdaq-100 increased by 0.1%, and the Dow Jones Industrial Average rose by 0.53%. This comes after the US president said it was “highly unlikely” that he would dismiss Federal Reserve Chair Jerome Powell.
- Is this rally sustainable?
For now, yes. Recent developments have created room for the rally to continue. Short-term pullbacks will certainly continue as well.
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