July 31, 2025

What Happened in Crypto Today: Institutional Adoption Surges as Bitcoin Tops $116K

Executive Summary

The crypto market showed mixed signals today with BTC at $116,541.60 (+0.01% vs index) and ETH at $3,738.25 as institutional adoption reached new milestones. BlackRock revealed 75% of its Bitcoin ETF buyers are first-time investors, while Coinbase announced upcoming tokenized stock trading. Meanwhile, new Bitcoin whales triggered a profit-taking wave (3rd in this cycle) as XRP surged to $3.0539 with 0.01% funding. Regulatory developments dominated with the SEC's "Project Crypto" initiative and Visa expanding stablecoin settlements.

Major Market Movements: Whales Take Profits as Altcoins Show Strength

Bitcoin dominance wavered as BTC traded at $116,541.60 (index $116,525.30) with $22B in 24h volume, while ETH held steady at $3,738.25 ($1.07B volume). CryptoQuant data confirms the third major whale profit-taking event of this cycle, with new large holders liquidating positions.

Notable Price Action

  • XRP outperformed at $3.0539 (+0.05% vs index) with positive 0.01% funding
  • BNB hit $795.28 (index $794.58) with bullish 1.203 sentiment score
  • LINK rallied to $17.1650 amid CCIP adoption talks (1.144 sentiment)
  • Meme coins showed divergence: MELANIA ($0.2144) at 1.5 sentiment vs TRUMP ($9.0870) at 0.375

Institutional Activity: Wall Street Embraces Crypto Infrastructure

The most significant development came from BlackRock, where 75% of IBIT Bitcoin ETF buyers were first-time clients to the firm. Meanwhile, JPMorgan and Coinbase announced a landmark partnership for Chase credit card crypto purchases by 2026.

Institutional Highlights

  • ETH ETFs attracted $5.41B in July inflows as institutional demand grows
  • Visa expanded stablecoin support to PYUSD, USDG, EURC plus Stellar/Avalanche networks
  • Robinhood reported 45% revenue growth from crypto/options in Q2
  • Grayscale launched Story Protocol Trust targeting $80T IP market

Regulatory Updates: SEC's "Project Crypto" Takes Shape

The SEC unveiled its "Project Crypto" initiative to modernize digital asset regulations, suggesting most crypto assets aren't securities. This comes as the IMF criticized Bitcoin's energy use while acknowledging its growing adoption.

Policy Developments

  • SEC Chair Atkins aims to clarify crypto regulations through new initiative
  • Philippines deployed Polygon for government docs despite network outage
  • IMF maintains Bitcoin is "off the books" despite Argentina-level energy use
  • Circle expanded USDC to Hyperliquid amid $5.5B AUM surge

Technical Analysis: Key Levels to Watch

With BTC funding at 0.01% and ETH at 0.01%, perpetual markets show balanced positioning. SOL ($175.6070) leads with 0.963 sentiment, while LDO's 0.0234% funding suggests growing DeFi interest.

Technical Highlights

  • BTC faces resistance at $120K after whale sell pressure
  • LINK shows strength above $17 with low 0.0044% funding
  • AVAX ($22.8320) maintains 1.034 sentiment amid Visa integration
  • DOGE ($0.2136) sees elevated 0.0214% funding rate

Market Sentiment: Bullish Despite Profit-Taking

Sentiment scores reveal strong optimism for ETH (1.073), BNB (1.203), and LINK (1.144), while EIGEN (-0.075) and AI16Z (-0.750) lag. The Deloitte CFO survey found 99% of billion-dollar firms plan long-term crypto use.

Sentiment Drivers

  • Cardano's "most advanced stablecoin" claim boosted ADA (1.003 sentiment)
  • Chainlink's $100 speculation grew as CCIP adoption expands
  • Blockstream's Simplicity launch on Liquid drew mixed reactions
  • Fold's Bitcoin gift cards at 400K retailers increased accessibility

Outlook: Institutional Onramps and Regulatory Clarity

With Coinbase preparing tokenized stocks and traditional finance embracing crypto, the infrastructure for broader adoption is being built. However, traders should watch whale movements and SEC regulatory developments closely in coming sessions.

Key Predictions

  • Continued institutional inflows to BTC/ETH ETFs likely
  • LINK may test $20 if CCIP adoption accelerates
  • Stablecoin sector to grow with USDM, PYUSD, USDG expansions
  • Watch BTC $120K as next psychological barrier