Monica Markets | July 16, 2026
Your daily crypto market snapshot - Midnight market.
The crypto market is holding steady today following yesterday's broad rally triggered by cooler than expected US inflation data. Here is where things stand right now:
Bitcoin (BTC): $64,115
Ethereum (ETH): $1,877.68
Solana (SOL): $75.87
USDT: $1.00
USDC: $1.00
Market Sentiment: Fear and Greed Index at 25 — Extreme Fear
What is driving the market today:
Yesterday the US Bureau of Labor Statistics confirmed that June inflation fell 0.4 percent month on month to 3.5 percent annually, its sharpest monthly drop since April 2020, well below the 3.8 percent forecast. This reduced the probability of a Federal Reserve rate hike at its July 29 meeting to just 8 percent, triggering a broad crypto rally. Ethereum gained over 6 percent on the day, Bitcoin crossed $64,000 briefly and over $350 million in short positions were liquidated across the market.
Today prices are consolidating around those gains with cautious sentiment remaining.
Next to watch: Federal Reserve policy meeting, July 28 to 29 2026.
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