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Investing.com-- Bitcoin remained range-bound around $118,000 on Thursday amid profit-taking and large-scale wallet moves, while traders turned cautious ahead of a White House crypto policy report due later this month and assessed evolving regulatory frameworks.
The world’s largest cryptocurrency last traded 0.9% higher at $118,670.0 as of 02:36 ET (06:36 GMT).
The token remained in a consolidation phase after surging to a record above $123,000 last week. Gains were tempered amid reported whale trades.
Meanwhile, other cryptocurrencies saw sharper losses, with XRP and Dogecoin leading declines after recent record highs.
White House to release crypto policy report this month
White House crypto adviser Bo Hines announced on X that the President’s Digital Asset Working Group has finalised its long‑awaited 180-day crypto policy report, set for public release on July 30.
The report, mandated by a January executive order, is expected to detail the amount of seized U.S. government-held Bitcoin and articulate how it might be managed.
In addition to the reserve outline, the working group is widely expected to propose a comprehensive regulatory framework.
Traders cautious, await crypto regulation progress
Investors remain on edge despite the U.S. House’s recent approval of three major crypto bills.
Last week, President Donald Trump signed into law the U.S. GENIUS Act, establishing a federal regulatory framework for stablecoins.
In addition to the GENIUS Act, the House of Representatives passed two other key bills. The CLARITY Act clarifies SEC and CFTC oversight, and the Anti‑CBDC Surveillance State Act is viewed as a pivotal step toward federal crypto regulation.
Still, many lawmakers saw potential gaps in consumer protection, and both the CLARITY and Anti‑CBDC acts await Senate review.
Investors were cautious amid evolving regulatory bills and waited for clearer direction to push the speculative asset for a breakout again.
Analysts also attributed the weakness to the breach of the key psychological level $118,000, which prompted automated selling. It added to downward pressure already building from profit-taking and broader market caution.
Markets also awaited the Federal Reserve’s upcoming policy meeting on July 30.
Digital assets inflows hit $60bn in 2025, on track to surpass last year’s record
Capital is pouring into digital assets at an unprecedented rate this year, according to JPMorgan, even as flows into private equity and private credit weaken.
In a report released Wednesday, the bank estimated year-to-date net inflows into digital assets have reached $60 billion—a nearly 50% increase since the end of May. The figure includes crypto fund flows, CME futures activity, and venture capital funding in the crypto space.
“The surge of capital inflows into digital assets over the past couple of months has likely been supported by favorable U.S. regulations,” analysts led by Nikolaos Panigirtzoglou wrote.
JPMorgan said the pace puts 2025 on track to surpass last year’s record for crypto inflows.
Crypto price today: altcoins plunge, XRP leads losses
Most altcoins saw pullbacks on Thursday after they surged to multi-month peaks in recent sessions.
World no.2 crypto Ethereum fell 0.4% to $3,649.43.
World no. 3 crypto XRP plunged by double-digits in early trading, before recovering some losses to trade 5.5% lower at $3.17.
Solana declined 3.6%, and Cardano slid 2.5%, while Polygon also fell nealy 4%.
Among meme tokens, Dogecoin lost more than 4% while $TRUMP slipped 5.5%.
(Additional reporting by Vahid Karaahmetovic.)