After the recent dump, Bitcoin has been creating higher highs and higher lows, as it looks poised to breach the $65k mark if 62k holds. This looks like the effect of the highest ETF inflows since early June as the institutional inflow stood at $130 million in a single day after more than $900 million worth of outflows were seen in June. July is also historically a bullish month for Bitcoin with a median return of 9%.
Among altcoins, Solana is the notable performer alongside Telegram-backed Toncoin, with both coins gaining more than 3%. Solana’s rise can be attributed to the recent ETF filing by VanEck. Also, pump.fun, a Solana protocol to create memecoins, generated $2 million in daily revenue, more than Ethereum’s daily revenue.
