Traders are waking up to discover the crypto rally still has legs. Bitcoin (BTC) is up 2% over the past 24 hours to $119,000 after U.S. consumer-price data stirred talk that tariffs are feeding inflation.

July 16, 2025
 
 

What to know:

 

By Francisco Rodrigues (All times ET unless indicated otherwise)

Traders are waking up to discover the crypto rally still has legs. Bitcoin (BTC) is up 2% over the past 24 hours to $119,000 after U.S. consumer-price data stirred talk that tariffs are feeding inflation.

Even though the dollar strengthened after the Tuesday report, demand pushed through, with money flowing into U.S. spot bitcoin ETFs, which are seeing $700 million in total net inflows so far this week.

 

Demand is further supported by corporate treasuries which, according to BitcoinTreasuries data, now hold 859,993 BTC worth over $100 billion. That figure is likely to keep growing, and Cantor Fitzgerald Chairman Brandon Lutnick is in late-stage talks for a $3 billion bitcoin treasury deal.

 

Against that background, it's worth noting that altcoins are outperforming, with the CoinDesk 20 (CD20) index up 3.5%. Ether (ETH) has risen 6% in the past 24 hours, jumping past $3,100, its best level since February, as companies start to consider it also a candidate for corporate treasury adoption. Just yesterday, SharpLink Gaming overtook the Ethereum Foundation as the largest corporate holder of ETH.

 

Strategic Ether Reserve data shows that companies now hold 1.6 million ETH. In addition, spot ether ETFs in the U.S. added $192 million yesterday, for a weekly total of $451.3 million.

 

Crypto investors are now bracing for the House debate on the GENIUS Act, a bipartisan bill that could halt yield-bearing U.S. stablecoins while giving stablecoin issuers greater clarity.

 

President Donald Trump has said Republican lawmakers who objected to a trio of crypto bills, including the GENIUS Act, are now ready to approve them.

 

If the bills pass, funds now chasing stablecoin interest may pivot to staking and other ether-based strategies. “That would potentially reinforce Ethereum's importance within the digital asset ecosystem," Markus Thielen, founder of 10x Research, said in a note shared with CoinDesk.

 

Looking ahead, producer price inflation being released by the U.S. Bureau of Labor Statistics will be closely watched, as will speeches by several Fed governors for hints on the central bank’s monetary policy as Trump calls for rate cuts.

 

For now, both the CME Fedwatch Tool and Polymarket point to a 97% chance that rate cuts won’t happen this month. Stay alert!

 

Overnight Flows

 

What to Watch

Crypto

  • July 16, 9 a.m.: U.S. House Ways and Means Committee oversight hearing titled "Making America the Crypto Capital of the World: Ensuring Digital Asset Policy Built for the 21st Century."
  • July 18: Lorenzo Protocol, a Cosmos-based blockchain with native token BANK, launches USD1+ OTF on BNB Chain's mainnet. The institutional-grade on-chain traded fund lets users stake stablecoins to mint sUSD1+ tokens that earn stable, NAV-backed yield from real-world assets, CeFi quantitative strategies and DeFi protocols. All returns are settled in USD1 stablecoin, issued by World Liberty Financial, whose stablecoin infrastructure powers the product’s stable yield mechanism.

Macro

  • July 16, 8:30 a.m.: The U.S. Bureau of Labor Statistics releases June producer price inflation data.
    • Core PPI MoM Est. 0.2% vs. Prev. 0.1%
    • Core PPI YoY Est. 2.7% vs. Prev. 3%
    • PPI MoM Est. 0.2% vs. Prev. 0.1%
    • PPI YoY Est. 2.5% vs. Prev. 2.6%
  • July 16, 10 a.m.: Speech by Fed Governor Michael S. Barr on "Financial Regulation" at "Conversation with Governor Barr" in Washington. Livestream link.
  • July 17, 10 a.m.: Speech by Fed Governor Adriana D. Kugler on "A View of the Housing Market and U.S. Economic Outlook" at the Housing Partnership Network Symposium in Washington. Livestream link.
  • July 17, 6:30 p.m.: Speech by Fed Governor Christopher J. Waller on the economic outlook at an event hosted by the Money Marketeers of New York University.
  • Aug. 1, 12:01 a.m.: New U.S. tariffs take effect on imports from trade partners that failed to reach agreements by the July 9 deadline. These increased duties could range from 10% to as high as 70%, impacting a wide range of goods.

Earnings (Estimates based on FactSet data)

  • July 23: Tesla (TSLA), post-market, $0.42
  • July 29: PayPal Holdings (PYPL), pre-market, $1.29
  • July 30: Robinhood Markets (HOOD), post-market, $0.30
  • July 31: Coinbase Global (COIN), post-market, $1.35
  • July 31: Reddit (RDDT), post-market, $0.19
  • Aug. 5: Galaxy Digital (GLXY), pre-market
 

Token Events

Governance Votes & Calls

  • Aavegotchi DAO is voting on a $245,000 funding proposal to expand Gotchi Battler into a revenue-generating game with PvE modes, NFTs and battle passes, aiming to reverse declining player numbers, boost GHST utility and create sustainable rewards. Voting ends July 22.
  • Uniswap DAO is conducting a temperature check on Etherlink’s request to co-incentivize Uniswap v3 liquidity. Tezos Foundation would put up $300K for three months of rewards on WETH/USDC, WBTC/USDC and LBTC/USDC, and is asking the DAO for $150K more, aiming to anchor Etherlink’s rising TVL and future native tokens on Uniswap. Voting ends July 18.
  • Rocket Pool DAO is voting to finalize Saturn 1’s implementation. Approval by a 75% supermajority will ratify key protocol changes, including new transaction designs and a potential revenue share to the pDAO treasury. Voting ends July 24.
  • July 16, 5 p.m.: VeChain to host a monthly update with community representatives and the VeChain Foundation.

Unlocks

  • July 16: Arbitrum (ARB) to unlock 1.87% of its circulating supply worth $37.15 million.
  • July 17: ZKSync (ZK) to unlock 2.41% of its circulating supply worth $9.24 million.
  • July 17: ApeCoin (APE) to unlock 1.95% of its circulating supply worth $9.86 million.
  • July 18: Official TRUMP (TRUMP) to unlock 45.35% of its circulating supply worth $827.17 million.
  • July 18: Fasttoken (FTN) to unlock 4.64% of its circulating supply worth $90 million.

Token Launches

  • July 16: Bybit to delist Tap (TAP), VaporFund (VPR), Cosplay Token (COT), Souni (SON), Tenet Protocol (TENE), Havah (HVH), and Brawl AI Layer (BRAWL) among others.
 

Conferences

The CoinDesk Policy & Regulation conference (formerly known as State of Crypto) is a one-day boutique event held in Washington on Sept. 10 that allows general counsels, compliance officers and regulatory executives to meet with public officials responsible for crypto legislation and regulatory oversight. Space is limited. Use code CDB10 for 10% off your registration through July 17.

  • July 16: Invest Web3 Forum (Dubai)
  • July 20: Crypto Coin Day 7/20 (Atlanta)
  • July 21-22: Malaysia Blockchain Week 2025 (Kuala Lumpur)
  • July 24: Decasonic’s Web3 Investor Day 2025 (Chicago)
  • July 25: Blockchain Summit Global (Montevideo, Uruguay)
  • July 28-29: TWS Conference 2025 (Singapore)
  • Aug. 6-7: Blockchain.Rio 2025 (Rio de Janeiro, Brazil)
  • Aug. 6-10: Rare EVO (Las Vegas)
  • Aug. 7-8: bitcoin++ (Riga, Latvia)
  • Aug. 9-10: Baltic Honeybadger 2025 (Riga, Latvia)
  • Aug. 9-10: Conviction 2025 (Ho Chi Minh City, Vietnam)

Join us for this curated gathering that unites D.C.’s most important public officials with legal, policy and compliance leaders from the private sector to advance crypto standards and reform.

Space is limited. Use code CDB10 for 10% off your registration through July 17.

Token Talk