Crypto Slides Amid Market Gains, SEC Delays Regulation Vote

A solar eclipse in Britain had an unexpected consequence: it caused a supply shortfall as solar generation plummeted, pushing UK electricity prices to over £211/MWh. This was not the only event affecting markets this week.

The July CPI print showed that headline CPI cooled to 3.4% from 3.5%, while core eased to 2.5% from 2.6%. These numbers matched consensus, and the PPI also cooled against forecasts. Equities ran with the good news, with the S&P 500 and Nasdaq climbing to fresh records on lower Fed-hike odds and strong earnings.

Crypto barely moved during this time, with BTC dipping slightly after the CPI print and then below $63,000 on Friday. ETH swung between $1,875 and $1,950 but drifted lower in step with BTC. SOL held steady at mid-$70s despite a pullback.