PUMP Price Crashes Amid Airdrop Delay As BTC Fights to Hold $117,000

Arkham Intelligence confirmed the U.S. government still holds about 198,000 BTC, worth roughly $24 billion, refuting rumors it had sold 85% of its crypto assets. The speculation began after a FOIA request revealed the U.S. Marshals Service holds only 29,000 BTC, sparking concerns of a mass sell-off.

However, Arkham clarified that other agencies like the FBI, DOJ, and DEA also manage large Bitcoin reserves that were not included in the FOIA data.

The holdings place the U.S. well ahead of other governments. The U.K. holds about $7B, and Bhutan around $1.3B in Bitcoin. While the stash represents just 0.065% of the $37 trillion U.S. national debt, it highlights growing institutional recognition of crypto as a sovereign asset. Importantly, none of the U.S. government’s BTC has moved in the past four months.

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U.S. spot Bitcoin ETFs recorded $86 million in net outflows on July 23, continuing a three-day streak of losses. Fidelity’s FBTC led with $227 million out, while ARK and Bitwise saw smaller pullbacks. BlackRock’s IBIT stood out with $142 million in inflows, partly offsetting the dip.

Bitcoin is currently trading around $118,710, about 3.54% below its all-time high. After a strong rally, BTC has gone mostly sideways this week, sparking debate over whether momentum is fading.

Meanwhile, Ethereum ETFs are gaining strength. On the same day, ETH ETFs brought in $331 million, their 15th straight day of inflows, led by BlackRock’s ETHA. Despite this, ETH slipped to around $3,540, now trading at $3,646, down 3% on the day.

Market sentiment remains mixed, but analysts believe the broader bullish structure is still intact.

Solana has been on a wild ride recently, surging more than 10% from $180 to $200 in 3 days. This all happened before an overnight sell-off, which saw SOL retrace the entire move. With the market on a slight dip, many traders are wondering, ‘What is the best crypto to buy right now?’

Read the full story here.

XRP has been one of the top-performing altcoins this cycle, gaining 72% over the past month. But after reaching a local high of $3.67, the token dropped sharply to $2.96 in the last 24 hours before bouncing back above $3, now trading at $3.05.

On-chain signals suggest that XRP’s rally could be cooling off. First, data from CryptoQuant shows XRP’s exchange reserve on Binance hit a yearly high of 2.98 million tokens worth over $10 million. When coins move to exchanges, it often signals selling intent.

XRP’s taker buy/sell ratio has stayed below 1 since July 10, currently at 0.88. This means futures traders are selling more than buying, adding to the bearish pressure.

While XRP remains one of the strongest altcoins of the cycle, these indicators point to a possible short-term correction. If selling continues, and XRP price breaks the $2.95 level, the next support lies near and $2.65.