📈 Bitcoin rally loses steam
Bitcoin touched a new all-time high above $123,000 before pulling back to the $118–119k range midweek. Ethereum surged past $3,800, its highest level since January, while the total crypto market cap briefly exceeded $4 trillion before correcting. Volatility returned as traders assessed regulatory signals and profit-taking intensified.
🏛️ ‘Crypto Week’ in Washington
The U.S. officially named last week “Crypto Week”, fast-tracking three major bills. The GENIUS Act, now signed into law, establishes the first nationwide framework for stablecoins — requiring full backing and joint federal–state oversight. Meanwhile, the Clarity Act draft from the Senate aims to define which digital assets fall under SEC vs CFTC regulation, setting the stage for a more transparent market.
💼 Banks & billionaires go deeper into crypto
JPMorgan is preparing to offer loans against crypto holdings, while PNC Bank will soon allow crypto trading directly from its platform. At the same time, Trump Media & Technology shocked markets by revealing that 66% of its liquid reserves are now held in bitcoin. Elon Musk’s SpaceX also moved over 1,300 BTC for the first time in years — raising speculation about strategic treasury shifts.
🌍 Retail frenzy & global flows
Retail activity in South Korea surged sixfold over the past two weeks, echoing a broader return of speculative energy. Open interest on major crypto futures platforms is also rising fast, hinting at potential breakouts — or breakdowns — ahead.
🎉 Fun Fact
A Solana-based meme token called Snorter Bot ($SNORT) raised over $2.2 million during its presale, fuelled by viral Telegram hype and trading bots that “sniff out” market opportunities. It’s crypto — anything can happen.
🧭 Why it matters
From Washington to Wall Street, crypto is no longer on the sidelines. Regulation is advancing, banks are opening their doors, and institutions are treating bitcoin as a treasury asset. But with rising volatility, this is a market that rewards strategy over FOMO.
📊 Stay sharp — and stay with NordFX for every opportunity the crypto world brings.
🪙 Crypto News of the Week | 16–23 July 2025 was originally published in Coinmonks on Medium, where people are continuing the conversation by highlighting and responding to this story.