{"id":25784,"date":"2025-08-03T18:01:41","date_gmt":"2025-08-03T15:01:41","guid":{"rendered":"https:\/\/forklog.com\/en\/week-in-review-bitcoin-slips-to-113000-as-the-white-house-issues-crypto-regulation-guidance\/"},"modified":"2025-08-03T18:01:41","modified_gmt":"2025-08-03T15:01:41","slug":"week-in-review-bitcoin-slips-to-113000-as-the-white-house-issues-crypto-regulation-guidance","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/week-in-review-bitcoin-slips-to-113000-as-the-white-house-issues-crypto-regulation-guidance\/","title":{"rendered":"Week in review: bitcoin slips to $113,000 as the White House issues crypto-regulation guidance"},"content":{"rendered":"

Digital gold sank, dragging the wider market with it; crypto rulemaking advanced in the US; the Fed<\/span> held its key rate; ChatGPT chats surfaced in search engines; and other highlights of the week.<\/p>\n

Correction<\/h2>\n

On Monday the first cryptocurrency climbed to $119,000, but failed to sustain the positive trend.<\/p>\n

By midweek bitcoin traded between $115,000 and $118,000. Despite strengthening after the Fed meeting, the coin began to slide on the back of statements<\/a> by US President Donald Trump about imposing 25% tariffs on India over trade with Russia.<\/p>\n

\"\u0418\u0442\u043e\u0433\u0438
Hourly chart of BTC\/USDT on Binance. Source: TradingView<\/a>.<\/figcaption><\/figure>\n

From Thursday evening a cascade of selling drove the asset down to $112,000. At the time of writing it had recovered to $113,800, leaving it down 3.5% on the week.<\/p>\n

The slide was accompanied by outflows from spot bitcoin ETFs, which saw net redemptions of $643m.<\/p>\n

\"\u0418\u0442\u043e\u0433\u0438
Source: SoSoValue<\/a>.\u00a0<\/figcaption><\/figure>\n

Ethereum-focused funds, by contrast, posted $154m of inflows.<\/p>\n

Yet the coin itself tracked bitcoin over the past seven days. Given the preceding rally<\/a>, its drop was even steeper \u2014 8.5%.<\/p>\n

\"\u0418\u0442\u043e\u0433\u0438
Hourly chart of ETH\/USDT on Binance. Source: TradingView<\/a>.<\/figcaption><\/figure>\n

All the largest digital assets ended in the red. The worst performers were SOL (-13%) and DOGE (-16%).<\/p>\n

\"\u0418\u0442\u043e\u0433\u0438
Source: CoinGecko<\/a>.<\/figcaption><\/figure>\n

Total market capitalisation over the week fell<\/a> by about 6% to $3.76 trillion. Bitcoin\u2019s dominance stands at 60.3%.<\/p>\n

Rates unchanged<\/h2>\n

On 30 July the Federal Reserve kept<\/a> its key rate in a 4.25\u20134.5% range.<\/p>\n

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“Although fluctuations in net exports continue to affect the figures, recent data indicate a slowdown in economic activity in the first half of the year. The unemployment rate remains low, and the labour market is stable. Inflation remains elevated,” the Fed\u2019s commentary says.<\/p>\n<\/blockquote>\n

The decision matched market expectations, but at the next meeting a majority (80.3%) already expects a 25 bp cut.<\/p>\n

\"\u0410\u0440\u0442\u0443\u0440
Source: CME Fedwatch Tool<\/a>.<\/figcaption><\/figure>\n

Friday\u2019s labour-market data<\/a> (Non-Farm Payrolls) clouded the picture. The reading came in worse than forecasts; the number of unemployed rose from 14,000 to 73,000 over the month.<\/p>\n

Tariffs proposed by Trump could also delay Fed easing. At a press conference<\/a>, Fed chair Jerome Powell said:<\/p>\n

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“High tariffs have begun to be reflected more clearly in the prices of some goods, but their overall impact on economic activity and inflation has yet to be assessed.”<\/p>\n<\/blockquote>\n

Powell had repeatedly noted that any rate cuts would depend on inflation and labour-market readings.<\/p>\n

What to discuss with friends?<\/h2>\n