📈 Market Overview
Bitcoin (BTC) surged to all-time highs, recently peaking above $118,000, with intraday swings between around $111,300 and $118,700 .
Ethereum (ETH) climbed past the $3,000 mark today, gaining approximately 7–8%, buoyed by strong ETF inflows and bullish momentum .
According to Binance, total crypto market capitalization now stands near $3.7 trillion, up around 6% in the past 24 hours . Cryptonews notes that 99 of the top 100 tokens are in green, and market sentiment has shifted into greed territory .
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🔍 Key Drivers
1. Institutional Inflows & ETF Demand
Massive inflows — including a reported $1.2 billion into Bitcoin ETFs — fueled sharp price gains and squeezed shorts, liquidating around $570 million .
2. U.S. Policy Tailwinds
Ongoing “Crypto Week” in Congress (July 14‑18) is spotlighting key bills like the GENIUS, Clarity, and Anti‑CBDC Surveillance Act, spurring regulatory optimism .
The Trump administration’s strategic Bitcoin reserve and supportive crypto ESG policies are adding to the bullish sentiment .
3. Regulatory Developments Abroad
In China, Shanghai officials are exploring yuan‑pegged stablecoins and a softer crypto approach—a notable shift given its prior strict stance .
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⚠️ Risks & Caution
Scams Surge: Australia’s Tasmania warns of crypto ATM romance and investment scams that have cost victims ~US$900K . Be vigilant.
Volatility Ahead: Even as momentum grows, analysts caution that pullbacks are possible — some flag resistance near 120K and eyeing a Fed interest‑rate cut later this year .