Bitcoin Reaches New All-Time High
Bitcoin surged to unprecedented heights on July 14, 2025, breaking through the $120,000 barrier to trade between $120,059.33 and $121,344 — a daily gain of 1-2%.
The rally is fueled by surging institutional interest and anticipation surrounding “Crypto Week” in Washington D.C.
Data from Glassnode reveals that derivatives have been a primary driver of the recent price action, while smaller wallets (holding less than 100 BTC) have continued to accumulate.
Read more: How to deposit Bitcoin in Kazawallet in 4 effective steps
U.S. Congress Kicks Off “Crypto Week”
The U.S. House of Representatives has begun debating three landmark bills: the CLARITY Act, which establishes a regulatory framework for digital assets; a bill to prevent central bank digital currency (CBDC) surveillance; and the GENIUS Act, aimed at accelerating asset tokenization.
This legislative push could fundamentally reshape the legal landscape for cryptocurrencies in the United States.
Tether Tightens Its Grip on the Stablecoin Market
Tether’s USDT now dominates 62% of the stablecoin market with a market capitalization of $158.8 billion.
The company has announced it will discontinue support for USDT on the EOS and Algorand networks, effective September 1, 2025, to concentrate its operations on more active blockchains.
Altcoin Market Watch
- Ethereum Eyes $3,800: Ethereum is holding strong above the $3,500 mark, with technical indicators suggesting a potential push toward $3,800 if it maintains current support levels.
- BNB Targets $733: After closing at $690.07 on July 13, BNB is showing signs of whale accumulation patterns that could propel it toward the $733 resistance level.
- XRP Nears $3.00 Milestone: Following its breakout above $2.60, XRP’s upward trajectory continues amidst growing speculation about a potential spot ETF and increasing regulatory clarity. The $3.00 mark is now considered the next major psychological barrier.
- Security Alert: GMX Hacked for $42 Million: The decentralized exchange GMX suffered a $42 million exploit on July 9 through its Arbitrum V1 protocol. Attackers exploited vulnerabilities in the platform’s liquidity mechanism, serving as a stark reminder of the persistent weaknesses within the DeFi space.
- KuCoin Lists Chainbase (C): The KuCoin exchange has listed Chainbase (C) for spot trading as of 12:00 PM UTC, further expanding its altcoin offerings.
