Altcoin Market Declines as Ether Celebrates 10th Anniversary

Bitcoin (BTC) remains stable around $118,300 as the broader crypto market faces a 1.6% decline ahead of the Federal Reserve's monetary policy decision. Ether (ETH) has dropped about 0.8% on its 10th anniversary.

The Fed is anticipated to maintain interest rates, with a 98% probability based on CME’s FedWatch tool.
July unemployment data will be released on Friday, coinciding with President Trump’s tariff deadline affecting numerous countries.
The SEC approved in-kind redemptions for spot bitcoin and ether ETFs, allowing smoother transactions for authorized participants.
Spot bitcoin ETFs have seen over $6 billion in inflows this month, while ether ETFs gained $5.4 billion, marking an 18-day inflow streak.
Ethereum aims to solidify its role in institutional finance amid regulatory clarity and growing adoption.

Upcoming Events

July 31: Webinar discussing bitcoin's potential as a global reserve currency.
Aug. 1: Helium Network halving event; Hong Kong's Stablecoins Ordinance takes effect; launch of BTCD stablecoin.
Aug. 15: Next FTX distribution record date.

Market Movements

BTC is up slightly at $117,740.73.
ETH shows minimal gain at $3,774.875.
CoinDesk 20 index is down 1.38% at 3,961.08.

Technical Analysis

Gold shows signs of bearish sentiment with repeated rejections above $3,400.
BTC dominance stands at 61.65%.

Overall, the market is experiencing mixed sentiments, balancing between structural adoption of digital assets and macroeconomic uncertainties.