Recap
- Bitcoin shattered all-time highs, surpassing $122,000 early on Monday 14 July. About $1 billion in short positions were liquidated in the past week, the largest amount since January.
- Ethereum broke $3,000 for the first time in five months, fueled by record ETF inflows and corporate treasury adoption.
- The US has been preparing for "Crypto Week" in the House of Representatives where lawmakers will be voting on the GENIUS Act, CLARITY Act, and Anti-CBDC Surveillance Act. These bills could reshape stablecoin regulation and clarify digital asset oversight.
Top Gainers of Last Week
- XLM (Stellar) 89%
- PENGU (Pudgy Penguins) 88%
- HBAR (Hedera) 51%
Top Losers of Last Week
- SKY (Sky) -2%
- BGB (Bitget Token) -2%
- OKB (OKB) 0%
Market Metrics
• Total Market Cap: $3.72 Trillion (+10.31%)
• BTC Dominance: 63.76% (vs 64.49% last week)
• Fear & Greed Index: 68 (Greed) (vs 50 last week)
- Alt Season Index: 33/100 (vs 29 last week)
This week, we'll be monitoring (all times UTC):
Monday 14 July
Crypto Event
- Trial of Roman Storm, co-creator of Tornado Cash, begins in New York. The trial could set a precedent for DeFi regulation, with potential implications for privacy tools.
Tuesday 15 July
Economic Data
- 12:30 U.S. CPI data release. MoM Forecast 0.3%: Lower-than-expected inflation could boost crypto by signaling dovish Fed policy, while higher figures might pressure prices; markets will watch closely for Fed rate cut hints.
- 02:00 China GDP Growth Rate YoY, forecast 5.2%: A strong reading could signal robust regional growth, potentially supporting risk assets like crypto.
Crypto Event (Token Unlock)
- SEI to unlock $74 million worth of tokens (219 Million tokens)
Wednesday 16 July
Crypto Event (Token Unlock)
- TRUMP to unlock $940 million worth of tokens (91.9 Million tokens)
Regulation
- US House to vote on GENIUS Act. This could help establishes a comprehensive regulatory framework for stablecoins, including reserve requirements, issuer registration, and consumer protections.
Thursday 17 July
Economic Data
- 12:30 U.S. Retail Sales data release at 12:30 forecast at 0%. Flat growth might signal economic stagnation, potentially pressuring crypto, while a surprise uptick could lift risk appetite.
Regulation
- Lawmakers are set to vote on the CLARITY Act, aiming to resolve the long-standing debate over whether tokens are securities or commodities.
