The crypto market flipped from triumph to turbulence this week, as the Bitcoin rally that launched it past $125,000 crashed into a sea of liquidations, sending the crypto market into “fear” territory like it hasn’t seen since April.
The CoinMarketCap Fear & Greed Index plunged to 28, while more than $230 billion vanished in one day as the broader market cap dropped to $3.54 trillion.
With altcoin ETFs, regulatory signals, and macro shocks all swirling, traders and investors are asking: Is the bull run over, or is it just taking a breather? Scroll down for the full crypto market news recap and what to watch next.
Crypto Crash Deepens as U.S.–China Tensions Escalate
Bitcoin and major altcoins like BNB, SUI, HYPE, and SNX tumbled as renewed U.S.–China trade tensions and $20B in liquidations wiped $300B from the market. Despite dovish Fed signals, investor fear grew amid inflation worries and uncertainty ahead of Trump–Xi talks later this month.
Solana Faces $150 Breakdown Risk as Ecosystem Weakens
Solana price tumbled to $184, breaking key support levels and invalidating its bullish chart setup. The drop follows $1.7B in liquidations, fading meme coin demand, and declining DEX activity. Analysts warn SOL could slide another 18% toward $150 if bearish pressure persists.
Ethena Jumps 16% on Whale Buying and DeFi Expansion
Ethena ($ENA) surged 16% to $0.46 as whales accumulated over 48 million tokens from exchanges, signaling renewed confidence after recent FUD. The move coincides with Ethena’s integration with Conduit, boosting its Stablecoin-as-a-Service network, $12.4B TVL, and optimism for a potential breakout above $0.50.
Ripple Targets $1B XRP-Backed Treasury Fund
Ripple Labs is preparing a $1 billion raise to build the world’s largest XRP-backed Digital Asset Treasury, blending crypto with institutional finance. The initiative, paired with Ripple’s $1B GTreasury acquisition, aims to embed XRP deeper into global payments and corporate treasury systems.
Thumzup Eyes Dogecoin for User Payments
Thumzup Media is testing Dogecoin as a new payout option for users who promote brands on its platform. The Nasdaq-listed firm already holds 7.5M DOGE and 19 BTC, and says Dogecoin integration could cut transaction costs and speed up global micropayments for creators.
Coinbase Adds BNB to Listing Roadmap, Signaling Shift in Strategy
Coinbase stunned the market by adding BNB to its listing roadmap, breaking its long-standing reluctance to feature rival exchange tokens. The move, unveiled alongside its new “Blue Carpet” transparency program, marks a shift toward openness and fairness amid industry scrutiny and regulatory pressure.
Global Institutions Warn of Stablecoin Risks Amid $306B Supply Boom
Top financial bodies, including the ESM, IMF, and FSB, issued stark warnings over stablecoin growth, saying unregulated expansion could threaten global financial stability. The caution comes as stablecoin supply hits $306B, led by Tether and USDC, with banks and retailers exploring new digital payment systems.
Ethereum Eyes $5K as Technicals and ETF Inflows Align
Ethereum is showing strong signs of recovery after sliding to $4,100. Analysts see a bullish breakout ahead, with technical patterns and rising ETF inflows nearing $15B signaling renewed momentum. A push above $5,000 could open the door to $5,625 in the near term.
Galaxy Digital Eyes $70 as AI and Crypto Tailwinds Boost Rally
Galaxy Digital’s stock (GLXY) has soared over 1,500% since 2023 and now trades near record highs around $42. Fueled by crypto and AI growth, strong Q2 profits, and a bullish cup-and-handle pattern, analysts see potential upside toward $70 if momentum holds.
Binance Pays $283M to Cover User Losses After Token De-Pegs
Binance compensated users with $283 million following a market crash that caused multiple token de-pegs and $20 billion in liquidations. Assets like USDe and BNSOL briefly crashed below peg values, triggering margin calls. The exchange’s swift payout helped calm traders and restore confidence.
