S&P 500 slips, but losses kept in check as Nvidia climbs ahead of results
Investing.com-- Bitcoin moved marginally on Tuesday, remaining largely rangebound as uncertainty over U.S. trade tariffs and economic growth kept traders mostly averse towards risk-driven assets.
Ether, however, outpaced Bitcoin after 180 Life Sciences said it had raised $425 million to set up an Ether treasury.
Broader crypto markets rose marginally, but took a few positive cues from a strong overnight session on Wall Street.
Bitcoin slipped 0.7% to $114,180.0 by 09:21 ET (13:21 GMT). The world’s largest crypto has struggled to make headway since hitting a record high in mid-July, keeping broader crypto prices rangebound.
Crypto markets also saw steep losses last week as risk appetite deteriorated, which in turn spurred some profit-taking in the sector. Corporate buying of Bitcoin also did little to support prices, as Metaplanet and Strategy announced new purchases.
US tariffs, economic uncertainty weigh on Bitcoin
Risk appetite remained on the backfoot as markets grappled with signs of a cooling U.S. economy, especially after softer-than-expected nonfarm payrolls data for July and a sharp downward revision in payrolls for the past two months.
While the reading did cement expectations for an interest rate cut in September, it provided few positive cues to crypto markets. Crypto largely ducked an overnight rebound on Wall Street.
Risk appetite also remained largely constrained by uncertainty over the economic impact of U.S. President Donald Trump’s trade tariffs, which will take effect this week.
Trump on Monday threatened steep tariffs against India over New Delhi’s buying of Russian oil, pushing the rupee to record lows.
CFTC to permit trading of listed spot crypto on registered exchanges
The U.S. Commodity Futures Trading Commission (CFTC) will permit trading of spot crypto asset contracts on federally regulated futures exchanges, acting chairman Caroline Pham announced Monday. The move, coordinated with the SEC’s "Project Crypto," marks a step toward broader federal oversight of digital assets.
The CFTC has asked for public input on how such contracts should be listed on designated markets.
Under President Trump, the crypto industry has made notable regulatory progress this year, backed by legislation such as the GENIUS and CLARITY Acts, which aim to provide clearer rules and oversight.
Crypto price today: altcoins range-bound, Ether supported by treasury plans
Broader crypto prices moved slightly higher on Tuesday, but gains remained limited after logging sharp losses last week.
World no.2 crypto Ether advanced 1.5% to $3,620.76, after 180 Life Sciences Corp (NASDAQ:ATNF) said it closed a $425 million private placement to fund an Ether treasury.
The company will deploy the $425 million largely towards buying Ether, similar to a strategy employed with Bitcoin by top corporate holder Strategy.
180 Life Sciences said it plans to rebrand as ETHZilla Corp and may raise an additional $150 million.
Among other altcoins, XRP, Cardano, and Solana rose between 0.5% and 2.5%.
In memecoins, Dogecoin added 1.3%, while $TRUMP lost 0.4%.
(Additional reporting by Vahid Karaahmetovic.)