Crypto markets edge higher as ETF inflows return; policy updates and Ripple case closure add tailwinds
Quick Take Bitcoin, Ether, and XRP enjoyed upswings on Friday following a mix of positive ETF flows, policy announcements, and legal developments this week. Timothy Misir, BRN’s head of research, opined that BTC could retake $120,000 as ETH eyes $4,000 if the recent risk-on momentum continues.
Bitcoin climbed back above $116,000 on Friday as spot exchange-traded fund flows turned positive for a second straight day and a flurry of policy headlines — including President Donald Trump’s executive orders on digital assets and the formal end of the SEC’s case against Ripple — buoyed sentiment.
U.S. spot bitcoin ETFs drew about $281 million of net inflows on Thursday, led by BlackRock’s IBIT, according to SoSoValue data. That followed a smaller return to the green on Wednesday after four successive days of outflows. Ether spot ETFs also added roughly $222 million on Aug. 7, extending a multi-day streak.
“ETF inflows are tentatively returning, offering a structural pillar as short-term volatility moderates,” BRN’s Head of Research, Timothy Misir, told The Block.
The policy backdrop also brightened. President Donald Trump signed an executive order directing the Labor Department and the SEC to pave the way for digital assets in 401(k) plans . He also separately signed an order aimed at curbing “unfair debanking” of crypto-friendly firms — measures that could widen mainstream access to regulated crypto products.
Meanwhile, the SEC and Ripple agreed to end their legal battle by dropping their respective appeals, leaving in place a prior court ruling that drew a line between certain institutional XRP sales and programmatic sales. The parley would close a long-running overhang for Ripple and U.S. crypto policy more broadly.
Under the surface: positioning, treasuries, and macro
Options traders maintained a cautious risk-on tone amid the developments. Downside hedges remain in place, but call demand has rebuilt near $118,000 for bitcoin and $4,000 for ether, Misir noted.
Institutional Flows have also spread toward Ethereum treasuries, which surpassed $10 billion in value across tracked entities late last month as several public companies like Tom Lee’s BitMine Immersion and Joe Lubi’s SharpLink Gaming accelerated accumulation.
On the macro front, the White House’s Fed nominations and pressure for easier policy continue to be a market subplot. Trump this week picked economist Stephen Miran for a vacant Federal Reserve Board seat , a figure regarded as crypto-friendly and publicly supportive of broader market access to digital assets. Traders may view Miran’s appointment as a bullish signal as anticipation for a rate cut at September’s meeting builds.
Bitcoin traded around $116,600 while ether hovered above $3,900, The Block’s price page shows. XRP led gains among majors with an 11% jump following yesterday’s legal propellant, while a 4% rise in the GMCI Index 30 indicates a wide alt uptrend.
BRN’s analyst said bulls are eyeing a push back toward $120,000 for BTC if ETF inflows stay positive and policy momentum holds. “If Bitcoin is able to hold the $116,000 level over the next 48 hours, we could see another strong push toward $120,000 with ETH making another play for the $4,000 level.”
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Is a new wave of sell-offs approaching? The ultimate rival of the AI bull market emerges—The "global anchor of asset pricing" breaks through the 5% super threshold
After the 10-year US Treasury yield breaks back above the critical 5% mark, it is more likely to usher in a period of high-level tug-of-war and accelerated asset differentiation. Especially before energy shocks and the significantly eased large-scale expansion of the US fiscal deficit, the conditions to quickly replicate the sharp yield decline seen at the end of 2023 are not yet fully in place.
Anthropic releases another article: What will the economy look like in the AI era?
Anthropic's economics team has released an AI economic scenario model, centered around three scenarios: moderate and gradual growth, transformative changes with GDP doubling, and an extreme situation with 15% annual growth but massive job losses among knowledge workers. The model treats work as "bundles of tasks" and analyzes AI’s enhancement and substitution effects on different types of tasks. Anthropic emphasizes that the economic outlook for 2030 is not predetermined; the key lies in how the dividends from AI are widely shared.
"New Federal Reserve News Agency": Waller's Rate Hike "Has No Way Back", Trump's "Trust" Faces Test
Nick Timiraos believes that after the higher-than-expected August CPI, the probability of the Federal Reserve raising interest rates this week has surged, while Waller’s hawkish stance on inflation has left himself almost "no leeway." With seven weeks before the election, whether or not Waller raises rates will directly test how long Trump's “trust” in him can last. Previously, Waller maintained a balance between the White House and the Federal Reserve by “talking less and avoiding provocation,” but after this meeting, silence will no longer serve as his shield.
Trump Opposes AI "Guardrails": Congress Pushes Legislation for Restrictions, Deepening Bipartisan Divide
U.S. President Trump opposes setting guardrails for artificial intelligence (AI), putting him at odds with a growing number of bipartisan lawmakers. As the midterm elections approach, voters' concerns about AI safety have intensified their doubts about this technology.
Crypto prices
More
