- A third of Mt.Gox Bitcoin hit Kraken and failed to usher a correction in BTC price, per Bybit’s top trader.
- XRP outperformed Bitcoin and Ethereum as traders turned optimistic with Spot Ether ETF approval.
- Bitcoin held steady close to $67,000 and XRP posted 6% gains on Wednesday, while Ethereum struggles under $3,500.
Bitcoin, Ethereum, XRP updates
- Bitcoin trades close to $67,000 at the time of writing, early on Wednesday. Mt.Gox, defunct crypto exchange has made headlines in the past few weeks for paying Bitcoin to its creditors.
- Bybit exchange’s largest crypto trader noted that a third of all Mt.Gox Bitcoin became available to trade on Kraken early on Tuesday. However, Bitcoin absorbed the sell-off and held steady, sustaining recent gains. Crypto Today: Ethereum Spot ETFs debut on Nasdaq, NYSE Arca and CBOE, Bitcoin and XRP hold steady
- Ethereum is the underdog among top cryptocurrencies and fails to sustain above key resistance at $3,500, even as the US Securities & Exchange Commission (SEC) green flags the Spot Ether Exchange Traded Fund (ETF). This week could be explosive for ETH: Ethereum ETFs to debut in the US on Tuesday
- Ripple traders await the outcome of the lawsuit, while XRP continues to outperform Bitcoin and Ethereum, posting 6% gains on Wednesday. Ripple lawsuit could be impacted by Kamala Harris’ nomination, XRP gains 5%
Chart of the day
DYDX/USDT daily chart
DYDX trades at $1.333 at the time of writing. The token is likely to extend gains by 23.85% and rally to $1.644, the 23.6% Fibonacci retracement of the decline from the March 26 top of $3.713 to the July 5 low of $1.005.
DYDX could find support at the July 5 low in case of a correction.
Market updates
- Spot Ethereum ETF observed $1 billion trade volume during the first day of the investment product arriving on exchanges.
- Bitstamp announced that it will start distributing Bitcoin and Bitcoin Cash to Mt.Gox creditors on July 25.
- Analysts note that Ethereum ETF volume falls short compared to trading volumes on centralized exchanges like Binance, Crypto.com and Bybit.
Industry updates
- Personal finance app Fold is planning a public listing on Nasdaq through a merger with special-purpose acquisition company Emerald Acquisition Corp.
- Polymarket partnered with Moon Pay as the platform recorded $206 million election bets this month. The partnership is focused on supporting bank transfers and credit cards for crypto betting.
- Mt.Gox transferred $2.47 billion in Bitcoin to new wallets, likely gearing up for distribution and payback to creditors.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended Content
Editors’ Picks

Top 3 Price Prediction Bitcoin, Ethereum, Ripple: BTC consolidates while ETH and XRP show some strength
Bitcoin (BTC) consolidated between $94,000 and $100,000 in the last nine days. Ethereum (ETH) and Ripple (XRP) prices stood relatively stronger and have gained nearly 3% and 7%, respectively, this week.

Trump's US reciprocal tariffs pause fails to improve Bitcoin and crypto market outlook
Bitcoin (BTC) and top cryptos halted their declines following a pause in President Donald Trump's reciprocal tariff plans, which were originally scheduled to go live on Thursday.

Ripple vs SEC battle nears end as the regulator acknowledges Grayscale XRP ETF filing
Ripple's XRP is up 4% in the early hours of Friday following the Securities and Exchange Commission (SEC) acknowledgment of Grayscale's 19b-4 filing to convert its XRP Trust to an ETF.

200,000 New Investors Buy Ripple (XRP) 30-Days After Gensler’s Farewell: What Next for Stellar (XLM)?
Ripple (XRP) price consolidated around $2.40 on Thursday, up 11% since Monday, technical indicators suggest Stellar (XLM) has joined the rally.

Bitcoin: BTC consolidates before a big move
Bitcoin's (BTC) price has been consolidating between $94,000 and $100,000 for the last ten days, and, when writing on Friday, it hovers around $97,000. Despite this consolidation, US Bitcoin spot Exchange Traded Funds (ETFs) data recorded a total net outflow of $650.80 million until Thursday, hinting signs of weakness among institutional investors.

The Best Brokers of the Year
SPONSORED Explore top-quality choices worldwide and locally. Compare key features like spreads, leverage, and platforms. Find the right broker for your needs, whether trading CFDs, Forex pairs like EUR/USD, or commodities like Gold.