It was one other historic week for the cryptocurrency market as bitcoin, in addition to a couple of altcoins, managed to chart recent peaks.
However let’s start with the most important digital asset. Simply final week, its value struggled to keep up above $117,000 and even dipped beneath that degree on a few events. Nevertheless, it had a stable weekend by which it added a couple 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.
Nevertheless, the end result 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 soar, although, got here the just about inevitable correction. BTC shortly dropped again right 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 a direct impression on bitcoin’s value.
Inside minutes, the asset dumped to underneath $118,000, taking the remainder of the market with it, which resulted in practically $1 billion value of liquidations.
Though it has recovered some floor since then, BTC remains to be beneath $119,000. Extra volatility is anticipated later at the moment as Donald Trump is about to fulfill with Vladimir Putin to debate a doable peace deal between Russia and Ukraine.
Ethereum additionally had an enormous week, surging to its highest degree since 2021 of over $4,700. Nevertheless, it couldn’t push additional to interrupt its all-time excessive of virtually $4,900, not like BNB, which set a brand new report at $865. Different notable weekly gainers embrace 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 couple of modest bitcoin purchases from a number of the well-known names. Technique amassed 155 BTC for $18 million, whereas Metaplanet outshone it with a 518 BTC addition, bought for over $61 million.
Bitcoin Dominance Drops Beneath 60% as Altseason Alerts Flash. The metric evaluating BTC’s market share towards all different cryptocurrencies has dropped considerably previously month or so, going from 62% to underneath 58%. In line with analysts, this hints at the beginning 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 liable 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 beneficial properties forward. Right here’s what the bitcoin NUPL metric needed to say about this.
Coinbase Closes Deribit Deal as Crypto Derivatives Skyrocket. After a couple of months of speculations, Coinbase introduced the official acquisition of the world’s largest crypto choices change – Deribit. Coinbase’s President and COO described it because the “largest deal in crypto historical past.”
Ethereum Exit Queue Heating up Once more: 808,880 ETH Price $3.7B Held Up. Validators dashing 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 at the moment’s costs.
Charts
This week, we’ve got a chart evaluation of Ethereum, Ripple, Cardano, Solana, and Hyperliquid – click on right here for the whole value evaluation.
The put up BTC Hits New ATH, ETH Pushes Larger as Trump-Putin Assembly Grabs Highlight: Your Weekly Crypto Recap appeared first on CryptoPotato.