Speaking of numbers, the market cap of this digital darling now eclipses a formidable $2.43 trillion. Quite the feat, when one considers it has decisively ousted Amazon—whose once-mighty valuation rests at a mere $2.38 trillion. Yet, lest we forget, Apple still reigns supreme, lounging comfortably at $3.15 trillion. One must wonder if Tim Cook is sweating just a little. 🤔
According to Bitwise CEO, Hunter Horsley, Ethereum is “building the infrastructure for the next version of the internet,” which sounds like a line from a sci-fi movie, but hey, who can argue with the guy? He’s saying that ETH might just go beyond $10,000. That’s a bold statement, but then again, crypto is all about bold, right? 🚀
In the early hours of July 14, Metaplanet made its latest move public, proclaiming on X (formerly Twitter—don’t ask why) that it had added another 797 BTC to its ever-expanding collection. At this rate, they’ll have 30,000 BTC by the end of 2025. A lofty target, don’t you think? What better way to secure the future than by filling the coffers with digital tokens of ephemeral value? But surely, it’s not just about numbers. No, no. It’s a show of unwavering belief in Bitcoin. A belief that borders on madness, perhaps, but who am I to judge? We all find solace in something.
The latest XRP rally has captured market attention, with the token climbing around 6% in 24 hours to reach $2.96, breaking above the important $2.84 resistance level. This breakout was confirmed by a sharp spike in trading volume, which surged to 176 million XRP around 3:00 AM UTC—more than double the typical hourly average, according to CoinDesk data. Institutional investors appear to be a driving force behind the move, adding substantial liquidity to the market.
This marks the Czech National Bank’s grand debut into the cryptosphere. According to a dusty old Form 13F they filed with the U.S. Securities and Exchange Commission—a form as thrilling as watching paint dry—the bank snapped up those shares on July 14, back when they were merely valued at a pedestrian $18.13 million. It’s like buying a vintage wine for the price of grape juice and then discovering it ages into a rare vintage overnight! 🍷✨
But as Bitcoin stabilizes post-ATH, market attention is rapidly pivoting to altcoins, several of which are showing signs of preparing for their breakout moves toward historic highs. Here’s a breakdown of the top contenders.
Yet, amidst the jubilation, July also bore witness to record-setting liquidation losses, with Open Interest (OI) volumes reaching historic highs. While Bitcoin and Ethereum basked in the glory of their gains, several altcoins now stand on the precipice of significant liquidation risks, as price volatility increases. 🌊
According to Lookonchain (because, apparently, that’s a thing), Bhutan sold 512.84 BTC over the last four days. That’s about $59.47 million! Not bad for a country that could probably fit inside the parking lot of a mid-sized US state. 🏞️ But don’t worry, they’re not *completely* sold out. Bhutan still holds about $1.4 billion worth of Bitcoin. You know, for a rainy day. Or for another strategic sale when the price hits $250K. 📈
But here’s the thing—don’t get too excited. The volume? Yeah, it’s kind of like a 2 a.m. pizza delivery: looks good, but it’s probably not the real deal. All this price action is being pushed by leverage and short squeezes, kind of like when your friend swears they know how to fix the Wi-Fi, but you end up calling a professional anyway. Bitcoin did the same thing, so no, this isn’t a breakthrough, it’s more like a trend-following disaster waiting to happen. 😅
According to the illustrious Charlie Bilello, chief market strategist at Creative Planning, this marks a curious moment in history: the two titans, Bitcoin and Gold, vying for the top spot in a way that has never quite been seen before. One might say it’s as if two old acquaintances are now in a heated, albeit friendly, race to the top. “We’ve never seen these two in the number one and number two spots for any calendar year,” says Bilello, nodding sagely as if it were a delightful novelty—though it’s hardly a surprise, considering the economic chaos at hand.