Crypto Market Update: July 3, 2023

The crypto market has seen renewed institutional interest since June 2023. Major financial institutions such as BlackRock and other leading U.S. asset managers have made fresh appeals to the Securities and Exchange Commission to approve a new form of Bitcoin exchange-traded fund. Meanwhile, a consortium of Wall Street heavy hitters launched a brand new crypto exchange called EDX Markets. As new, more responsible crypto trading products are coming online, the SEC continued its crackdown on existing crypto exchanges, suing Coinbase and Binance.

Looking ahead to the second half of 2023, crypto industry experts will continue to monitor institutional crypto activity, as well as the fluid U.S. economy and the outlook for interest rates.

Bitcoin Price Today

According to CoinGecko, the price of Bitcoin (BTC) is $31,256 today, with a 24-hour trading volume of $7,279,354,205.46. This represents a -0.10% price decline in the last 24 hours and a -0.13% price decline in the past 7 days. With a circulating supply of 19 Million BTC, Bitcoin is valued at a market cap of $593,131,187,669.

The global cryptocurrency market peaked at over $2.9 trillion in November 2021 but took a big hit during crypto winter 2022. That market cap now stands at just $1.1 trillion heading into the second half of 2023.

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