Major cryptocurrency markets remained flat on Thursday, July 31, as investor caution lingers, following the Federal Reserve\u2019s decision yesterday to hold rates steady and the publication of the White House digital assets working group\u2019s recommendations for crypto policy.<\/p>\n
Bitcoin (BTC<\/a>) continues trending sideways this week. As of press time, it\u2019s trading just under $118,000, flat both on the daily and weekly charts, after briefly spiking to about $118,644 earlier this week.<\/p>\n The price stagnation may reflect uncertainty following the release of the much-anticipated report from President Donald Trump\u2019s Working Group on Digital Asset Markets, which failed to provide any new details on the Strategic Bitcoin Reserve, leaving investors without clear direction on that front.<\/p>\n Meanwhile, Ethereum (ETH<\/a>) is also flat today, trading around $3,800. The largest altcoin has climbed 2% over the past week, despite public companies aggressively ramping up their ETH treasury strategies.<\/p>\n Data from the Strategic ETH Reserve show<\/a> that public firms are actively competing to accumulate more ETH. Tom Lee\u2019s Bitmine Immersion Tech<\/a> \u2014 which announced its pivot to an ETH treasury company at the beginning of July \u2014 has emerged as the entity with the largest ETH holdings, controlling an estimated 625,000 ETH valued at roughly $2.36 billion.<\/p>\n Among major altcoins, XRP<\/a> is holding up above $3, little changed on the day and down 3% over the past week. Solana (SOL<\/a>) is also trading flat over the past 24 hours, around $179, down about 5% on the week as it continues to give back some of July\u2019s gains after briefly breaking above $200 last week. <\/p>\n Total crypto market cap stands at $3.95 trillion, down 3.7% today, per CoinGecko data. Over the past 24 hours, more than $385 million in leveraged crypto positions were liquidated, according to CoinGlass<\/a>. Ethereum led the way with over $100 million in liquidations, while Bitcoin accounted for $67 million of the total.<\/p>\n The Trump administration\u2019s much-anticipated 166-page Digital Assets report<\/a> ultimately delivered little concrete information on the Strategic Bitcoin Reserve that hadn\u2019t already been provided in the President\u2019s Executive Order<\/a> establishing the SBR, alongside a general crypto \u201cstockpile.\u201d<\/p>\n The U.S. government\u2019s Bitcoin Reserve is sourced from assets seized in criminal or civil proceeding forfeitures, with the total estimated<\/a> at about 200,000 BTC. Part of Trump’s original Executive Order, repeated in yesterday\u2019s report, states that the government plans to not only HODL the Bitcoin in its Reserve, but also is open to \u201cacquiring\u201d more Bitcoin, if it can do so in a \u201cbudget-neutral\u201d way. <\/p>\n Adding to the confusion, Bo Hines, executive director of the White House Crypto Council, also dodged questions about how much Bitcoin the government actually holds during an interview with Crypto in America podcast. Throughout the interview<\/a>, Hines repeatedly deflected, saying he couldn\u2019t disclose details for reasons he wouldn\u2019t explain, which has only fueled more speculation and left investors uncertain about the true status of the Bitcoin reserve.<\/p>\n![\"the-defiant\"](\"https:\/\/thedefiant.io\/_next\/image?url=https%3A%2F%2Fcdn.thedefiant.io%2Fad_4nxcsus-mpbcp7gpck62cmgqry4p3eap1rmbpab1rakaogjs5wbfvjr8a-cb44acd8-ae9c-452b-950e-46aeddf1adfd.png&w=3840&q=100\"\/)
No Clarity for Strategic Bitcoin Reserve<\/h2>\n
Investor Appetite for ETFs Fades, for Now<\/h2>\n