Bitcoin (BTC) surged to a record high above $118,000 this week, fueled by robust ETF inflows and over $280 million in corporate treasury investments. The rally extended to major altcoins, with Ethereum (ETH) and Solana (SOL) benefiting from new treasury initiatives—including Joseph Lubin’s SharpLink purchase of 10,000 ETH and Bitmine’s $2 billion fundraising plan for ETH acquisition. Ripple (XRP) climbed 20% to $2.77, its highest in four months.
Technical indicators show bullish momentum: BTC’s MACD signals strength despite overbought RSI levels, targeting $130,935. ETH broke $3,000 resistance, eyeing $3,500, while SOL and XRP rode Bitcoin’s coattails to yearly highs. On-chain data reveals whales accumulating BTC despite retail profit-taking, with ETH and XRP holder counts growing.
Regulatory progress amplified gains: The U.S. House advanced the GENIUS stablecoin bill, and industry leaders lobbied for market structure legislation. Tariff uncertainty eased after the Trump administration delayed new rates until August 1, boosting risk assets. Experts cite institutional demand as key—Petr Kozyakov of Mercuryo noted Bitcoin’s "growing status as a store of value" while Zumo’s Nick Jones highlighted "reshaping finance."
Next week’s "Crypto Week" features critical House votes on stablecoin/market structure bills and Senate tax hearings, potentially accelerating adoption.