July 2025 Macro & Regulatory Landscape: What’s Really Driving Bitcoin’s Price Action
1. Setting the Scene: A New All-Time High, Then a Pause
Bitcoin sprinted to a fresh record just shy of $123 000…
2. The Federal Reserve & Inflation Expectations
Macro remains the first-order driver…
3. Washington Moves Toward Tailored Crypto Rules
Capitol Hill added fuel to the narrative on 22 July…
4. Spot ETF Flows: From Relentless Buying to a Flash Outflow
U.S. spot Bitcoin ETFs amassed $10.5 bn…
5. Corporate Treasuries and the “Bitcoin Balance-Sheet Trade”
Beyond ETFs, public companies keep adding coin…
6. Mining Economics After the Halving
On-chain supply dynamics remain supportive…
7. Market Rotation: Altcoins, Options and Risk Appetite
While Bitcoin digests gains, capital is rotating…
8. Key Catalysts on the Horizon
Three dates top the calendar: 24 July, 31 July and 12 August…
9. Risk Dashboard
Positioning, Liquidity, Derivatives and Macro drivers summarized…
10. Bottom Line
Bitcoin’s current sideways shuffle masks a tug-of-war between bullish and bearish forces…
