Crypto markets roared back to the spotlight this week, driven by institutional momentum, historic legislation, and a surge in altcoin performance.
From XRP breaking its all-time high to Bitcoin overtaking tech giants in market value, these are the key stories in crypto this week.
Trump to sign first major U.S. crypto law after historic House vote
The U.S. House passed the GENIUS Act with sweeping bipartisan support, marking a watershed moment for stablecoin regulation.
The bill, which creates a federal framework for issuing dollar-backed digital assets, now heads to President Trump’s desk for final approval.
Called it https://t.co/JWoPIuK5mQ
— Eric Balchunas (@EricBalchunas) July 11, 2025
Alongside GENIUS, the House also passed the CLARITY Act, a comprehensive market structure bill, and a controversial anti-CBDC proposal.
The coordinated push, dubbed “Crypto Week,” highlights growing legislative momentum and cements the U.S. as a potential global leader in digital asset regulation.
Bitcoin hits all-time high at $123K, becomes fifth-largest global asset
Bitcoin soared to $123,091.61, surpassing both Google and Amazon in market capitalization to become the fifth most valuable asset worldwide.
Analysts attribute the move to a combination of record ETF inflows, dollar weakness, and legislative tailwinds in Washington.
Institutional investors poured over $16 billion into BTC ETFs this year, while growing macro uncertainty drove demand for alternative stores of value.
Bitcoin’s rally has also lifted the broader market, pushing the best altcoins higher and fueling speculation of a new bull cycle taking shape.
Dogecoin futures reach record $4 billion as price emerges from a multi-month slump
Open interest in Dogecoin futures surged to a record 16.24 billion DOGE, valued at around $4 billion, as the meme coin climbed 47% to more than $0.24.
The move broke through both a long-standing downtrend line and the 200-day moving average, signaling a bullish technical shift.
According to Coinglass, funding rates remain positive, reflecting increased demand for leveraged long positions.
Analysts believe this breakout could spark a fresh round of speculative inflows into meme coins as DOGE reclaims market attention.
XRP tops $3.60 for the first time following ETF launch and regulatory breakthrough
According to CoinGeko’s data, XRP exploded past $3.60, its highest level ever. This follows ProShares’ launch of the first U.S. XRP futures ETF and the passage of crypto-friendly legislation in Congress.
Surging derivatives activity further fueled the token’s rally, with open interest spiking 25% to $4.6 billion in a single day.
Eleven asset managers have filed XRP-linked investment products, while prediction markets now give high odds to a spot ETF approval later this year.
Traders and analysts are now eyeing a potential breakout toward $4, signaling renewed institutional confidence.
Ethereum climbs to $3,600, but its $10,000 target still seems far away
Ethereum climbed above $3,600 this week, gaining 43% over the past 30 days as Ether ETFs saw record inflows. According to Cointelegraph, $727 million was traded in a single day, the largest since launch.
However, experts, including ZX Squared Capital’s Felix Xu caution that a $10,000 target remains unlikely unless multiple bullish catalysts align.
“A $10K target implies a 190% move in a little over five months — something ETH has achieved only twice, during the 2017 ICO frenzy and the 2020-21 DeFi boom,” he said.
The bullish catalysts include staking integrations into ETFs, dovish Fed policy shifts, and broader Ethereum adoption through Layer 2 rollups and application growth.
For now, Ethereum’s fundamentals remain strong, but upside could stall if inflows slow or macro risks intensify.
Standard Chartered launches BTC and ETH spot trading for institutions
Standard Chartered became the first major bank to offer deliverable spot trading in Bitcoin and Ethereum.
The service, initially launched in the UK, allows clients to execute crypto trades through the bank’s FX infrastructure and choose from regulated custody providers.
The move comes as Barclays scales back crypto exposure, signaling a divergence in institutional strategies.
Standard Chartered also revealed plans to expand into crypto forwards and tokenization services, highlighting rising demand for compliant digital asset access.
Crypto market cap crosses $4 trillion, altcoin season heats up:
According to Coingecko, the total crypto market capitalization surged past $4 trillion this week, with Bitcoin alone representing nearly 60% of that value.
The milestone reflects sustained institutional demand, ETF momentum, and an expanding altcoin rally.
Besides Ether climbed 7.8% to $3,600 and Bitcoin to over 123,000, Solana also jumped 6.16% to $180.6, Dogecoin gained over 10%, and Cardano surged nearly 15%.
BTC Markets Crypto Analyst Rachael Lucas told The Block that this rotation “from Bitcoin into higher-beta assets” normally sets the “pattern typical of late-cycle rallies.”
Technical models now project the next resistance near $4.5 trillion, contingent on continued ETF inflows and favorable macro trends.
