The crypto market is on fire.
Bitcoin smashed through previous records, reaching an all-time high of $122,800 on Monday before pulling back slightly to around $119,000. That’s a 9% gain over the past week alone — and other cryptos followed suit.
Ethereum is up over 20%, XRP has soared 26%, Cardano climbed 25%, and Solana gained 8%. But once again, XLM led the pack, rocketing up 74% in just seven days.
Source: Investing.com Economic Calendar
Inflation Data Shakes Rate Cut Expectations
Macro conditions are starting to complicate the Fed's outlook. On 14 July, the Bureau of Labor Statistics released June’s U.S. CPI report, and it came in hotter than expected:
Headline CPI rose to 2.7% YoY, above the 2.6% forecast and accelerating for the second month in a row.
Core CPI eased slightly to 2.9%, just under the expected 3%.
Monthly inflation rose 0.3%, up from 0.1% in the prior month.
Analysts largely attributed the rise to higher import costs being passed on to consumers — a likely consequence of new tariffs.
Markets were previously pricing in a strong chance of a Fed rate cut this summer, but those hopes are now fading. According to CME FedWatch, the probability of a 25 basis point cut in July has dropped to just 2%, with the outlook for additional cuts later this year also cooling.
U.S. Lawmakers Enter “Crypto Week”
In Washington, regulators are finally catching up. This week, the U.S. House of Representatives is reviewing three major crypto-related bills as part of what Republican leadership is calling “Crypto Week.”
Here’s what’s on the table:
The GENIUS Act: This bill has already passed the Senate. It requires stablecoins to be backed 1:1 with U.S. currency or similarly liquid assets, and mandates monthly public disclosures of reserves.
The Anti-CBDC Surveillance State Act: Aims to block the Fed from issuing a retail CBDC or using it as a monetary policy tool. It has passed committee in the House but lacks support in the Senate.
The Digital Asset Market Clarity (CLARITY) Act: Proposes clearer classification of digital assets into three categories — securities, commodities, and payment stablecoins — with the goal of narrowing the SEC’s regulatory reach and improving coordination between the SEC and CFTC.
While there’s momentum behind all three, not everyone agrees on which bill should move forward first. Some lawmakers argue that advancing stablecoin legislation without addressing CBDC risks or self-custody protections could weaken the overall framework.
Bitcoin Sees Record Profits and Rapid Corrections
After spiking to nearly $123,000, Bitcoin pulled back to around $117,000 — a roughly 5% drop as profit-taking surged.
According to Glassnode, over $3.5 billion in realized profits were recorded in just 24 hours, with long-term holders (those holding BTC for more than 155 days) making up 56% of the selling activity. Major price milestones often encourage these seasoned investors to cash out.
The rally from $108K to $123K happened so quickly that it left a thinly traded zone between $110K–$116K, according to Glassnode’s UTXO Realized Price Distribution (URPD). This “gap” means the market lacks solid support or resistance in that range, increasing the risk of volatile swings.
The post-rally correction also hit derivatives markets hard. Coinglass reports that more than 124,000 traders were liquidated, with $1.2 billion in BTC shorts wiped out — the bulk of total losses. Longs experienced comparatively minor damage.
Ethereum and XRP Enter the Spotlight
Ethereum is attracting serious institutional attention. Bitmine Immersion (NYSE American: BMNR), a publicly listed crypto infrastructure company, now holds around 163,142 ETH — worth about $500 million.
This accumulation follows a $250 million private placement completed on July 9, with funds swiftly deployed to boost ETH holdings.
Meanwhile, XRP is hitting new records on regulated markets. On July 11, CME’s XRP and Micro XRP futures reached a combined daily notional volume of over $235 million, bringing total volume since launch above $1.6 billion.
That same day, more than 9,100 contracts were traded — over 82 million XRP — marking the highest daily volume yet. Notably, 45% of that volume came from outside North America, showing the global appetite for regulated crypto exposure is only increasing.
Final Thoughts
From all-time highs to new legislation, it's clear that crypto has re-entered the global spotlight.
But with inflation concerns, policy uncertainty, and market gaps in support, investors should expect a choppy ride ahead. That said, momentum is building — and with institutional adoption rising and regulation finally moving forward, the second half of 2025 is shaping up to be a pivotal moment for the space.
Stay informed. Stay ahead.
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