The US Senate suspends Bitcoin related bills

[RWA Sector Leads in July Performance, On-Chain Market Cap Reaches $32.2 Billion, Setting a New All-Time High] According to CryptoRank data, the median return rate of the RWA token sector reached 10% in July. As of July 24, the on-chain market cap of RWA increased to $32.2 billion, up 12.3% from early July, surpassing the all-time high set in April.

Weeks ago, the U.S. CFTC opened the gates for crypto perps with its first listing approval, but major derivatives player CME is fighting back against what it sees as a diversion from the law.

CryptoQuant analyst Darkfost data shows that Bitcoin spot trading volume has fallen by over 75% from its peak at the end of 2024. Binance's monthly trading volume was $35 billion, a significant decrease from $246 billion in November 2024. The trading volume of major platforms has synchronously shrunk, and the current level has fallen back to the end of the bear market in 2023. Analysts attribute weak demand to the intensification of the US Iran conflict, high inflation, and the liquidity siphon effect in the stock market.

Analyst @ WoonMinkyu pointed out that during the market downturn, investors withdrew tokens to self managed wallets instead of selling them, reflecting their willingness to hold for the long term. （CryptoQuant）

It's a risk-off day. Still, bitcoin is holding better than Nasdaq and Asian equity markets.