🔔 SUMEX Monday Watchlist: Top Crypto Shakers (July 21)

Bitcoin holds steady near $118K as altcoins surge on regulatory tailwinds. The GENIUS Act is now law – fueling an institutional ETH rally while miners cash in record profits. With the "altseason" winds blowing, here’s your Monday roadmap for the $3.8T crypto market.

Key Monday News

🇺🇸 Trump Signs GENIUS Act 
President Trump signed the GENIUS Act into law last Friday, establishing the first federal regulations for US stablecoins with consumer protections. This landmark win boosts crypto legitimacy, triggering rallies in ETH and crypto stocks this morning. 

🔥 ETH Breaks $3.8K 
ETH rocketed nearly 6% over the weekend, propelled by a $15M whale buy and record $2.18B weekly inflows into spot ETFs. Sentiment soared as the GENIUS Act became law during Congress’ "Crypto Week." 

🔽 Largest Miner Sell-Off Since April 
BTC’s record highs sparked massive miner profit-taking: 16K BTC moved to exchanges. Daily exchange inflows hit 81K BTC on July 15 (highest since February), driven by miners and whales, which suggests potential volatility. 

⤵️ Bitcoin Dominance Shrinks 
BTC’s market share fell 5.8% in a single week to under 61%, the lowest since March, in the sharpest slide since 2022. Declining BTC-altcoin correlation hints at higher volatility, while total crypto cap expanded to $3.8T on ETH and altcoin strength. 

💼 Ether Treasury Arms Race 
SharpLink Gaming and Bitmine Immersion now hold over 280K ETH each – outpacing the Ethereum Foundation. Bitmine (chaired by Fundstrat’s Tom Lee) aims to hold 5% of all ETH – positioning as an "Ethereum-era central bank." 

Macro Signals to Watch

📌 S&P Global Manufacturing PMI for July (Jul. 24) — Contraction for the fifth consecutive month (reading below 50) could fuel rate cut expectations, supporting Bitcoin as a fiat inflation hedge.

📌 S&P Global Services PMI for July (Jul. 24) — The projected uptick to 53.0 would boost confidence in traditional markets, potentially diverting capital away from crypto. 

📌 US Initial Jobless Claims (Jul. 24) — The week ending July 19 will likely show an uptick from 221K — a positive for crypto sentiment. Signs of labor market strength would be bearish, making monetary easing less likely.

Top Movers: FLOKI vs. XMR

🔼 FLOKI (+43.2%) — Surged 40% to a six-month high, rallying since last Thursday following Bitcoin's runaway bullish momentum alongside BONK and DOGE. 

🔽 XMR (-6.9%) — Declining from its July 14 peak of $353, a level last seen in early June. Those gains were fueled by the rollout of Full Chain Membership Proofs and upgrades like ring signatures and stealth addresses.

#cryptonews@sumex_official