This week, leading digital assets lost some of their previously won positions. The BTC token is currently trading at 54100.00 (–12.8%), ETH is at 2860.00 (–19.4%), USDT is around 1.0000 ( 0.1%), BNB is around 470.00 (–19.1%), and SOL is around 125.00 (–13.3%). The total market capitalization fell to 1.99T dollars by the end of the week, and the share of BTC on it increased to 54.1%.

Experts attribute the negative dynamics of the sector to the start of the program of payments to creditors of the Mt. Gox cryptocurrency exchange went bankrupt in 2014. Yesterday, it transferred the first 47.229K BTC worth about 2.71B dollars, and it plans to return about 140.000 BTC and BCH for more than 9.4B dollars. In addition, experts drew attention to a recent transaction from accounts associated with the American and German governments. German government agencies transferred 3.0K BTC worth about 172.0M dollars to centralized cryptocurrency platforms (Bitstamp, Coinbase, and Kraken), and the US administration – 3.375K ETH worth about 11.75M dollars. The likelihood of the imminent release of large volumes of the first and second world cryptocurrencies to the market led to massive sell-offs of digital assets.

The postponement of the Ethereum-ETF launch put additional pressure on the cryptocurrency market. Experts expected that the US Securities and Exchange Commission (SEC) would approve the new instruments on July 4. However, the officials returned the applications for registration of funds on Form S–1 to interested companies with a request to revise them. The documents should be submitted by July 8 and, most likely, no further changes will be required. After that, the regulator will begin registration and process all applications, according to SEC Chairman Gary Gensler, by the end of summer. In addition, over the past two sessions, there has been an outflow of funds from the Bitcoin-ETF again. However, overall, the investment balance for the week remains positive (95.3M dollars).

Experts note that the current decline in the prices of major cryptocurrencies has limited potential for continuation, and the long-term fundamental background remains positive and does not exclude growth in the medium term. Analysts expect the market to receive a significant boost after the SEC approves the Ethereum-ETF and, possibly, Solana-ETF applications submitted by VanEck and 21Shares last week. The likelihood of their approval is unknown since the status of SOL for the officials is not defined. Also, the new growth of cryptocurrencies will be facilitated by the beginning of the US Fed monetary policy easing. Statistics from the labor market confirmed its further cooling (in June, according to Automatic Data Processing (ADP), employment slowed to 150.0K, and the total jobless claims increased to 1.858M). At the last meeting, regulator officials acknowledged a slowdown in the growth of the national economy and a decrease in price pressure. All this increases the likelihood of the beginning of easing the monetary policy in September, which will lead to the growth of alternative assets against the American dollar.

Next week, the quotes of the main digital assets may consolidate or resume growth.