Crypto News Today : Dogecoin, Bitcoin Price, Elon Musk American Party and More

This week, several key economic indicators are set to be released that could impact the markets. All eyes are on the FOMC minutes, coming out this Wednesday, which will offer insights into the Fed’s May decision to keep rates unchanged. If the Fed sounds hawkish, Bitcoin may face downward pressure as the dollar strengthens. But a dovish tone may lift crypto markets with hopes of rate cuts ahead. According to the CME FedWatch Tool, there is a 95% chance that the Fed keeps rates steady at the next meeting on July 30.

The U.S. House Ways and Means Oversight Subcommittee was scheduled to hold a hearing on July 9 to explore how the U.S. can become a global leader in crypto. Titled “Making America the Crypto Capital of the World,” the session was set to focus on creating a modern tax framework for digital assets, a key step in shaping the future of crypto regulation. However, in a recent update, FOX journalist Eleanor Terrett clarified that the House is out of session this week, and the hearing will be rescheduled. A new date is yet to be determined.

According to analyst Michaël van de Poppe, the Altcoin Season Index is flashing a familiar signal, a sign that a major alt season may be around the corner. For the past 5 years, the index has bottomed in June, which is followed by strong altcoin rallies in the second half of the year. With the market in a bull phase and QE beginning to ease, we could see a stronger altcoin rally than what we saw in Q4 2023. With money supply rising and rate cuts likely, he sees BTC hitting $150K in Q3, $250K in Q4, and altcoins leading the charge.

An on-chain analyst has recently pointed out that Bitcoin’s 30-day funding rate percentile is showing a bullish pattern. Each time this metric drops near or below 50%, Bitcoin has historically rebounded. After the April 2025 low and its rally to $112K, the percentile currently sits at 54%, which suggests that the bullish momentum is still intact. The next key level to watch is 80%. A break above that could mean the market is getting overheated, and a pullback might follow.

El Salvador has added 8 more BTC to its treasury this week, bringing its total holdings to 6,230.18 BTC, now valued at over $679 million. The country’s Bitcoin strategy continues to grow, which shows El Salvador’s ongoing commitment to Bitcoin. In December, the country secured a $1.4 billion loan from the IMF, which required it to drop Bitcoin as legal tender and halt BTC purchases. Despite this, El Salvador has continued its “1 Bitcoin a day” strategy, launched by President Nayib Bukele in 2022.

A CryptoQuant analyst has recently highlighted that Bitcoin’s MVRV ratio has bounced off its 365-day simple moving average, a level that has reliably acted as mid-term support. This bounce, which occurred just 12 days ago, is a sign that the market is still showing strength. Historically, when MVRV stays above its 365-day average, Bitcoin’s uptrend tends to continue. The analyst notes that this is a simple yet powerful signal, and the trend remains intact.

The Smarter Web Company has expanded its Bitcoin treasury by purchasing 226.42 BTC for £17.87 million. This brings its total holdings to 1,000 BTC, worth £78.23 million. This purchase is part of its long-term 10-year plan, which is already showing strong results, with a year-to-date BTC yield of 26,242% and a 30-day yield of 530%. The company still holds £42.3 million in cash and is ready to further invest in Bitcoin as it continues to build its treasury. 

The Blockchain Group has acquired 116 BTC for around €10.7 million, bringing its total holdings to 1,904 BTC, now worth nearly €172 million. The company reported a strong BTC yield of 1,348.8% Year-to-date and a gain of 539.5 BTC this year. To fund the buys, it raised $1.1 million from TOBAM for 11 BTC and $10.8 million via bonds, split between TOBAM for 52 BTC and Adam Back for 53 BTC.

TON fell 6% after UAE regulators dismissed claims that staking Toncoin could help in getting a Golden Visa. The token initially jumped 10% after reports that staking $100,000 worth of Toncoin for three years could qualify investors for a 10-year Golden Visa. But after officials denied the link, TON dropped and is now trading at $2.83. Telegram CEO Pavel Durov also reposted a crypto influencer’s claim, which sparked speculation. But UAE officials later confirmed that golden visas are not given for crypto investments and are handled under separate rules.

Bitcoin has surged close to $110,000 today after it was clarified that Trump’s proposed Tariffs will not take immediate effect. This has given countries until August 1 to reach trade deals, which is three weeks ahead of the original July 9 deadline. Dogecoin led the rally with 6% rise and topped gains among major tokens. Other altcoins like Solana, XRP, and ADA saw 2-3% gains. This comes ahead of key U.S inflation data. Traders expect a softer CPI report, which could boost the chances of an earlier rate cut.

President Trump has announced a new 10% tariff on countries that support BRICS, calling their actions “anti-American.” The BRICS summit began Sunday in Brazil. As the G7 and G20 face internal rifts, BRICS is trying to offer a more united and cooperative alternative amid rising global conflicts. However, he revealed no details on what those policies meant, and also added that there would be “no exceptions to this.” This is the first BRICS summit to include Indonesia, one of several new members alongside Egypt, Ethiopia, Iran, Saudi Arabia, and the UAE.

Metaplanet has accumulated another 2,205 Bitcoin, worth $240.8 million. The latest purchase brings their total holdings to 15,555 Bitcoin worth $1.68 billion. In June alone, the company made multiple large Bitcoin purchases, adding thousands of BTC to its balance sheet. Metaplanet is one of the largest corporate holders of Bitcoin and is also ahead of major companies like Tesla, Coinbase, and CleanSpark. Its long-term goal is to acquire 210,000 BTC by 2027, which would represent about 1% of Bitcoin’s total supply.

Elon Musk, in a recent X post, said that his America Party will support Bitcoin. When a user asked if the party would embrace Bitcoin, Musk replied, “Fiat is hopeless, so yes.” He announced the formation of the party on Saturday, aiming to break the Republican-Democrat stronghold. This comes amid a rift with Donald Trump, who recently signed the “Big Beautiful Bill”—a move which Musk has criticized for worsening the national deficit. Donald Trump fired back at Elon Musk on Truth Social, calling him a “TRAIN WRECK” who has “gone off the rails” in recent weeks. He also mocked his plan to launch a third political party.