It was one other historic week for the cryptocurrency market as bitcoin, in addition to a number of altcoins, managed to chart recent peaks.
However let’s start with the biggest digital asset. Simply final week, its value struggled to take care of above $117,000 and even dipped beneath that stage on a few events. Nonetheless, it had a strong weekend wherein it added a number of grand and jumped towards $119,000.
The start of the present enterprise week was much more promising. On Monday alone, the cryptocurrency spiked above $122,000 to mark a multi-week peak earlier than the bears returned and pushed it south by over three grand.
Nonetheless, the fruits was but to happen because the bulls initiated a spectacular leg up on Wednesday and Thursday morning, driving bitcoin above its July 2025 all-time excessive of $123,200 to a brand new one. This time, the asset peaked at $124,500.
Following this explosive value leap, although, got here the just about inevitable correction. BTC rapidly dropped again all the way down to $122,000 and $121,000, however that was simply the beginning. The recent PPI knowledge for July got here out, with numbers surging to a three-year excessive, which had an immediate impact on bitcoin’s value.
Inside minutes, the asset dumped to beneath $118,000, taking the remainder of the market with it, which resulted in almost $1 billion price of liquidations.
Though it has recovered some floor since then, BTC remains to be beneath $119,000. Extra volatility is expected later as we speak as Donald Trump is about to satisfy with Vladimir Putin to debate a doable peace deal between Russia and Ukraine.
Ethereum additionally had a giant week, surging to its highest stage since 2021 of over $4,700. Nonetheless, it couldn’t push additional to interrupt its all-time excessive of virtually $4,900, not like BNB, which set a new record at $865. Different notable weekly gainers embody SOL, HYPE, LINK, and ADA.
Market Knowledge
Market Cap: $4.110T | 24H Vol: $236B | BTC Dominance: 57.5%
BTC: $118,665 (+1.5%) | ETH: $4,640 (+18%) | XRP: $3.12 (-6.5%)
This Week’s Crypto Headlines You Can’t Miss
A Modest One: Saylor’s Technique Buys 155 BTC for $18 Million. The week started with a number of modest bitcoin purchases from a number of the well-known names. Technique accumulated 155 BTC for $18 million, whereas Metaplanet outshone it with a 518 BTC addition, purchased for over $61 million.
Bitcoin Dominance Drops Under 60% as Altseason Alerts Flash. The metric evaluating BTC’s market share towards all different cryptocurrencies has dropped considerably up to now month or so, going from 62% to beneath 58%. According to analysts, this hints initially of the long-anticipated altseason.
Terraform’s Do Kwon Pleads Responsible to Its Collapse. Terraform Labs’ CEO, Do Kwon, who repeatedly claimed he was not answerable for the multi-billion-dollar collapse, has lastly pleaded responsible. He’ll forfeit $19 million in proceeds whereas he awaits the sentencing in December 2025.
Is the Bull Cycle Nearing Its Prime? Right here’s What Bitcoin NUPL Metric Says. As BTC registered one other all-time excessive week above $124,000 and crashed shortly after, analysts had been fast to take a position whether or not this bull cycle has run its course or there are extra positive aspects forward. Right here’s what the bitcoin NUPL metric had to say about this.
Coinbase Closes Deribit Deal as Crypto Derivatives Skyrocket. After a number of months of speculations, Coinbase announced the official acquisition of the world’s largest crypto choices trade – Deribit. Coinbase’s President and COO described it because the “greatest deal in crypto historical past.”
Ethereum Exit Queue Heating up Once more: 808,880 ETH Price $3.7B Held Up. Validators speeding to exit or enter the staking a part of Ethereum’s ecosystem have clogged the community because the queue has rocketed to over 800,000 ETH, valued at $3.7 billion at as we speak’s costs.
Charts
This week, we have now a chart evaluation of Ethereum, Ripple, Cardano, Solana, and Hyperliquid – click here for the complete price analysis.
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Cryptocurrency charts by TradingView.
