Commodities Markets

Digital‑asset capitalization briefly pierced $4 trillion on 18 July before settling near $3.9 trillion, still 11 % higher month‑on‑month. Bitcoin supplied the heavy lifting, printing a new intraday peak above $120 k before easing to the $115 k–118 k band; the move leaves the bellwether up 27 % year‑to‑date. Barron'sReuters

Bitcoin: charts, catalysts, course. Spot‑ETF inflows accelerated to $4.6 billion in July, eclipsing the spring rollout as BlackRock’s iShares vehicle crossed $20 billion AUM. The newly signed Genius Act added another tailwind by formalizing custody and tax rules, a regulatory milestone many strategists credit for the latest leg higher. Bernstein now pencils in $200 k by December, while quantitative desks caution that funding rates above 18 % signal froth. Our base case: BTC tests $130 k in Q3, but pullbacks to high‑$100s remain likely as long as the Fed stays restrictive. The Economic Timeschangelly.com