ETH Breaks the Ceiling, Start of Alt Season

Plus: the meme coin that's actually solving DeFi 👇

Author

Macro Point Daily
July 17, 2025

👋 Welcome Back to Macro Point Daily, The smartest crypto take of the day — macro trends, market moves, daily charts, and a side of memes.

Every day we provide the 5 stories which matter most in crypto, and one just for the degens.

In Today’s Edition

  • 🚀 ETH breaks $3,300 on institutional flows

  • 📊 Bitcoin consolidates above $120K support

  • 🏛️ House crypto bills pass committee votes

  • 💎 Layer 2 tokens surge 40% this week

  • 🛠️ Uniswap V5 launches cross-chain swaps

  • PENGU Eyes $0.10 After Breakout

Let’s dive in.👇

Today’s Edition

📌 Ethereum Smashes Through $3,400 as ETF Inflows Explode

Institutional money is finally rotating into altcoins after months of Bitcoin dominance.

Ethereum surged past $3,300 today, marking its highest level since the initial ETF launch euphoria. The rally was fueled by $2.1 billion in combined ETF inflows across BlackRock's iShares Ethereum Trust and Fidelity's Ethereum Fund over the past week. On-chain data shows institutional wallets accumulated over 400,000 ETH during the dip below $3,000 last month. The breakout above $3,300 resistance opens the door for a potential run toward $3,500, with options markets pricing in continued upside through August.

  • 🌊 ETF inflows hit $2.1B in seven days

  • 📈 $3,500 next target as resistance breaks

  • 🐳 Institutions bought 400K ETH under $3K

📈 Fed Minutes Signal September Rate Cut Despite Inflation Concerns

The crypto market rallied after Fed meeting minutes revealed growing support for rate cuts.

Minutes from the July FOMC meeting showed several officials believe a September rate cut is "appropriate" if inflation continues its downward trajectory. Core PCE came in at 2.1% last week, the lowest reading since early 2021. Risk assets including crypto surged on the news, with Bitcoin briefly touching $121,500 before settling back to current levels around $120,300. The dovish pivot has sparked renewed appetite for higher-beta assets, with crypto benefiting from the "risk-on" rotation.

  • 💰 September rate cut odds jump to 85%

  • 📉 Core PCE hits 2.1%, lowest since 2021

  • ⚡ Bitcoin touched $121,500 on Fed news

📉 Bitcoin Dominance Hits 6-Month Low

Bitcoin's market dominance dropped to 52.4%, its lowest level since January, signaling the start of genuine altcoin season.

The dominance chart shows a clear breakdown below the 53% support level that held for most of 2025. Historical patterns suggest altcoins typically outperform when Bitcoin dominance falls below 52%, with mid-cap tokens seeing the biggest gains. Ethereum's dominance rose to 18.2%, while smaller altcoins captured an additional 29.4% of total market cap. Trading volume in non-Bitcoin assets jumped 67% this week, confirming the rotation is backed by real money flow.

  • 📉 BTC dominance drops to 52.4%, 6-month low

  • 🎯 Sub-52% historically signals altcoin season

  • 📈 Alt trading volume up 67% this week

📈 House Passes Crypto Clarity Act in Historic Vote

The U.S. House of Representatives passed three major crypto bills today, marking the biggest regulatory win for the industry

The CLARITY Act passed 247-136, establishing clear definitions for when crypto tokens qualify as securities versus commodities. The Anti-CBDC Surveillance State Act passed 229-186, prohibiting the Federal Reserve from issuing a central bank digital currency. The GENIUS Act, which creates regulatory sandboxes for crypto innovation, passed 253-144. All three bills now head to the Senate, where they face an uncertain future but represent unprecedented bipartisan support for crypto-friendly legislation.

  • 🏛️ Three bills pass House with bipartisan support

  • 📋 CLARITY Act defines security vs commodity tokens

  • 🚫 Anti-CBDC bill blocks Fed digital currency

🛠️ Uniswap V5 Launches Cross-Chain Swaps with Zero Bridge Fees

Uniswap Labs shipped its biggest upgrade since V3, enabling seamless token swaps across 12 blockchains.

V5 introduces "Universal Routing," allowing users to swap tokens across Ethereum, Polygon, Arbitrum, and nine other chains in a single transaction. The upgrade eliminates traditional bridge fees by using a novel "intent-based" system where market makers compete to fill cross-chain orders. Early testing shows 40% lower costs for multi-chain swaps compared to existing solutions. The launch comes as cross-chain volume has exploded to $47 billion monthly, with Uniswap capturing 23% market share.

  • 🌐 Enables swaps across 12 blockchains seamlessly

  • 💰 Zero bridge fees via intent-based routing

  • 📊 Cross-chain volume hits $47B monthly

Degen Domain

🐸 PENGU Eyes $0.10 After Breakout

Pudgy Penguins token is building serious momentum after breaking key resistance levels.

PENGU is gaining momentum after a key breakout, trading above support with rising volume as the price eyes a potential move toward the $0.10 mark, with some analysts predicting a potential 200% surge from current levels. During this impressive 24-hour outing, PENGU's market cap and trading volume rallied 25.36% and 279.88%, to $838 million and $492.44 million, respectively. The token has been following a falling wedge pattern that typically precedes major breakouts, making it a high-risk, high-reward play for meme coin degens.

  • 📈 Breaking key resistance with rising volume

  • 🎯 $0.10 target represents 200% upside potential

  • 🔥 Trading volume exploded nearly 280%

💬 Quote of the Day

"The best time to plant a tree was 20 years ago. The second best time is now. The third best time is during altcoin season."

— Ancient Chinese Proverb (MacroPoint Ventures Remix)

See you tomorrow. Forward to a friend who still thinks ETFs are boring. Not financial advice/ do your own research. Adios.

📉📈🧠🫡
— Macro Point Daily