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Four Major Bullish News Shaking Up the Cryptocurrency Market: Bitcoin Hits New High, Ethereum Booms, Altcoins Surge, and Stocks Rally

Four Major Bullish News Shaking Up the Cryptocurrency Market: Bitcoin Hits New High,How much is 1000 pi coin worth? Ethereum Booms, Altcoins Surge, and Stocks Rally

The cryptocurrency market is currently abuzz with excitement as it experiences a series of bullish events. These developments are not only reshaping the digital asset landscape but also attracting the attention of investors worldwide. Let's delve into the four major bullish news that are making waves in the market.

Bitcoin Hits New High

Bitcoin, the king of cryptocurrencies, has once again reached new heights. On Tuesday, it soared to a record high of $123,226. As of the latest report, it was trading at $118,547.1, with a 24 - hour gain of 0.13%. The overall cryptocurrency market capitalization has now exceeded $4 trillion, with Bitcoin accounting for 59.9% of the total. This remarkable performance of Bitcoin continues to solidify its position as the leading digital asset and a major driver of the entire market. However, it has also shown some signs of consolidation, recently dipping to a low of $117,000, with minor pull - backs on both the daily and weekly charts. If Bitcoin experiences a more significant correction, it could potentially impact the momentum of other cryptocurrencies.

FAQ: What could be the potential reasons for Bitcoin's recent consolidation? Well, market dynamics, profit - taking by investors, and broader economic factors could all play a role. DYOR to understand these complex interactions better.

Ethereum Booms

Ethereum has been having a spectacular run as well. On July 17, the total global Ethereum contract positions exceeded $50 billion, setting a new record. The current value stands at $50.329 billion, with a 24 - hour increase of 8.09%. In the past 24 hours, around 145,988 people were liquidated, with a total liquidation amount of $549 million. Among them, long - position liquidations accounted for $186 million, and short - position liquidations were $362 million. The largest single - liquidation order occurred on HTX in the ETH - USDT pair, worth $3.2058 million.

On July 16, the total net inflow of Ethereum spot ETFs reached a record high of $727 million. The Blackrock ETF ETHA had the largest single - day net inflow of $499 million, and its historical total net inflow has now reached $7.114 billion. Moreover, SharpLink has emerged as the corporate entity holding the largest amount of Ethereum. From July 7 to July 13, it purchased approximately 74,656 ETH at an average price of about $2,852, with a total expenditure of around $213 million. As of now, its total holdings are about 280,706 ETH, with about 99.7% of them being staked or re - staked, and it has earned about 415 ETH since June 2. On July 17, SharpLink Gaming added 30,893 ETH, worth $104 million, to its ETH strategy reserve. Since early June, it has accumulated 321,000 ETH in a MicroStrategy - like model, with an average purchase price of about $2,745, and is currently sitting on a floating profit of $204 million.

FAQ: Why are Ethereum spot ETFs seeing such high net inflows? It could be due to increased institutional interest, the growing popularity of Ethereum's smart - contract capabilities, and the overall bullish sentiment in the market. But always DYOR before making investment decisions.

Altcoins Surge

Altcoins have also been on a roll. Solana (SOL) is a prime example. On July 22, it broke through the $200 mark for the first time since February this year. Platform data shows that it had an intraday gain of 5.3%, a weekly increase of 22.6%, a 14 - day gain of 31.7%, and a monthly gain of 44.4%, indicating strong buying pressure. Previously, SOL had been trading in the range of $120 - $150 for several months. After being severely affected by the FTX bankruptcy in late 2022 and dropping below $10, SOL has since rallied by nearly 2000%, becoming one of the most outstanding performing crypto - assets in the current bull market cycle.

In the latest rally, SOL's market capitalization has exceeded $100 billion, reflecting the increasing attention and participation of both institutions and retail investors in its public - chain ecosystem. Additionally, the DeFi ecosystem on SOL has become more active as the price rises, with indicators such as the total value locked (TVL) on the chain continuously increasing, showing a steady expansion of the ecosystem. The Crypto Market Status report by 21Shares, one of the world's largest cryptocurrency exchange - traded product issuers, specifically highlighted SOL's potential, setting a short - term target price of $336 and a long - term upper limit of $2000, citing its expanding ecological fundamentals and a combination of macro - economic and network growth factors.

XRP has also made significant progress, breaking through $3.6 and with a market capitalization of over $210 billion, becoming the third - largest cryptocurrency by market cap. In South Korea's largest exchange, Upbit, the 24 - hour trading volume of the XRP/KRW pair reached $2.2 billion, accounting for about 33% of the total exchange volume.

FAQ: Are all altcoins likely to follow the same upward trend as SOL and XRP? Not necessarily. Each altcoin has its own unique fundamentals, use - cases, and market sentiment. So, it's crucial to DYOR on individual coins.

Stock Rally in the Crypto - Related Sector

The cryptocurrency industry is also witnessing a new wave of Initial Public Offering (IPO) enthusiasm. The exchange and media giant Bullish has submitted a prospectus to the US SEC and plans to list on the New York Stock Exchange. Bullish was founded by Block.one in collaboration with Silicon Valley veteran investor Peter Thiel, and its shareholders include prominent names such as the Founders Fund, Thiel Capital, Alan Howard, and Nomura Securities. This move is seen as an important signal of the further opening of the US capital market to the crypto industry.

On the policy front, the US House of Representatives has passed the CLARITY Act, the GENIUS Act, and the Anti - CBDC Surveillance National Act. The GENIUS Act is expected to be signed into law by Trump. The White House will also release its first - ever cryptocurrency policy report on July 22, and US Treasury Secretary Bessent has stated that "the dollar is about to go on - chain," which is expected to strengthen the dollar's position as the world's reserve currency in the crypto space.

FAQ: How will the IPO of Bullish impact the overall cryptocurrency market? It could attract more traditional investors to the crypto - related stocks, increase market liquidity, and potentially boost the overall sentiment in the crypto market. But as always, there are risks involved, so DYOR.

In conclusion, these four major bullish news items are significantly influencing the cryptocurrency market. From Bitcoin's new high to Ethereum's boom, altcoins' surge, and the stock rally in the crypto - related sector, the market is full of opportunities. However, investors should remain cautious, conduct thorough research (DYOR), and be aware of the potential risks in this volatile market.