Bitcoin Surpasses $126,000 All-Time High

Bitcoin Price Surge

Price Action: Bitcoin rose from $114,000 to $123,500+ this week, driven by oversold conditions and improved sentiment.
Drivers: Ample global liquidity and gold/crypto inflows support the rally

Trump Family’s Stablecoin (USD1)
Controversy:

World Liberty Financial’s USD1 stablecoin, backed by U.S. treasuries, faces scrutiny over potential political conflicts.
Response: Trump Jr. dismissed concerns, calling them "complete nonsense.

U.S. Tax Exemption for Crypto
Regulatory Win: Unrealized crypto gains are exempt from the Corporate Alternative Minimum Tax (CAMT), easing pressure on crypto firms.

Unity Gaming Platform Vulnerability
Impact: ⚠️
Android crypto wallets may be at risk due to a vulnerability in Unity's mobile gaming platform.
Details: Third-party code execution in Android games could target wallets. Unity is rolling out a fix, but users are advised to stay cautious.

top cryptocurrencies moving the most in the last 24 hours:

Here are the top cryptocurrencies moving the most in the last 24 hours:

Top Gainers

Jelly-My-Jelly (JELLYJELLY): +108.22%
Giggle Fund (GIGGLE): +93.06%
SX Network (SX): +58.01%
MetaDAO (META): +50.92%
Polycule (PCULE): +47.86%

Market Movements

Bitcoin rebounded to $113,900, with analysts noting potential trend reversal if it holds above $113,400–$114,000.
ETF outflows of $244M caused a market dip, with BTC below $112K and ETH under $4K. Volatility is expected due to a $17.5B Bitcoin options expiry.

ETF Expansion & Regulatory Developments

BlackRock filed a Bitcoin Premium Income ETF, while Hashdex expanded its Crypto Index ETF to include XRP, SOL, and XLM following SEC rule changes. This could lead to a surge in new crypto ETFs, bridging traditional finance and digital assets.

Vitalik Buterin's Open-Source Advocacy

Ethereum's co-founder, Vitalik Buterin, emphasized the importance of open-sourcing projects to combat monopolies in the crypto space. This aligns with broader debates about decentralization.

Bakkt Stock Surges 50%

Bakkt Holdings, a major crypto infrastructure company, announced the appointment of Mike Alfred (a crypto veteran) to its board. This leadership change has driven significant stock price increases

Australia's Draft Crypto Laws
Australia is working on new regulatory frameworks for cryptocurrencies. This could impact how crypto businesses operate and how investors interact with digital assets in the region.

US Regulatory Developments
- US Democrats signaled support for a bipartisan approach to digital asset market structure regulation.
- Spot Bitcoin ETFs saw a 4th consecutive week of inflows totaling $3.9 billion.

JULY 20, 2025

What major legislative milestone was achieved for cryptocurrencies in the U.S. this week?
Consider the significance of the U.S. Congress passing the GENIUS Act, signed into law by President Trump.

⚠️ Mt. Gox Repayments Begin:
The long-awaited distribution of recovered Bitcoin (BTC) and Bitcoin Cash (BCH) to creditors of the defunct Mt. Gox exchange has officially started. Initial small test transactions have been observed on-chain.

📈 Bitcoin Spot ETFs See Significant Inflows:
BlackRock's IBIT led the pack with over $100 million in net inflows yesterday, signaling renewed institutional interest. Total net inflows for all US Bitcoin ETFs were positive for the fourth consecutive day.

XRP Price Stability: XRP has shown signs of price stability but lacks a clear breakout. After a low on June 5, it made a slight upward move, though momentum remains weak and uncertain.

The launch of XRP Futures ETFs, approved by the US SEC for ProShares, starting trading on April 30, 2025. This development is significant as it allows institutional investors to engage with XRP through regulated futures contracts, potentially increasing its market presence.