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Bitcoin Slips to $117,500 After Record Rally as Congress Debates Crypto Laws

Heavy ETF inflows backed by institutional buying sustain Bitcoin through a brief pullback during Congress’s Crypto Week

A vast wave of fiat money is washing into cryptocurrency.
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Overview

  • Bitcoin reached a record high of $123,153.22 on July 14 before slipping about 5% to roughly $117,547.26 on July 15.
  • The cryptocurrency’s 27% year-to-date surge has helped lift the total market valuation to more than $3.8 trillion.
  • US-listed spot Bitcoin ETFs have collected $35 billion in inflows in 2024 and an additional $50 billion so far this year.
  • Corporate buyers such as Strategy added 4,225 BTC last week, bringing its total to approximately 601,550 coins.
  • Congress has begun debating three bills—the GENIUS Act, the Clarity Act and the Anti-CBDC Surveillance State Act—to clarify digital-asset regulations.