Bitcoin price surged to a new all-time high of $118,856 this week, up from around $107K, as bullish sentiment returned to the market. The rally is being fueled by renewed investor confidence and a historic wave of inflows into U.S.-based spot Bitcoin ETFs. For the first time since their January 2024 launch, these ETFs recorded over $1 billion in inflows for two consecutive days: $1.17 billion on Thursday and $1.03 billion on Friday.
Wall Street is showing a strong appetite for crypto again, with altcoins like Ethereum gaining momentum and stocks such as Coinbase and MicroStrategy benefiting from the surge in interest. With talks of broader crypto ETFs, including altcoins and even meme coins, alongside supportive U.S. policies, the market appears poised for continued upside.
Read more to catch up on this week’s biggest headlines, market updates, and altcoin action.
Bitcoin Breaks 8-Year Trendline, Signals New Bullish Era
Bitcoin has entered a “new era” after breaking an 8-year trendline, with bullish patterns forming on the monthly chart. Technical indicators suggest a move toward $150,000, as momentum builds. Spot ETF inflows and dwindling exchange supply add to the bullish case, with major companies now holding BTC in treasury.
PENGU Surges 18% as ETF Buzz and Listings Fuel Meme Coin Momentum
Pudgy Penguins’ $PENGU jumped 18% after an SEC ETF acknowledgment, new listings on HyperliquidX, and viral momentum. With volume up 194% and whales accumulating, traders are eyeing a move toward $0.028. Backed by strong branding and growing partnerships, PENGU is proving it’s more than just a meme; it’s a serious contender in the space.
Bitcoin Blasts to New High, Fueling Altcoin Surge as Fed Comments and ETF Demand Kick In
Bitcoin soared to a record high on July 11, pushing the crypto market above $3.6 trillion. A Fed official’s call for rate cuts, surging ETF inflows, and dwindling BTC supply ignited the rally. Altcoins such as DOGE, HBAR, XLM, and PEPE also experienced significant spikes. Bullish chart patterns now indicate a potential move to $150,000.
Cardano Price Eyes Recovery Ahead of Glacier Airdrop
Cardano has plunged 67% from its highs but could rebound as the Glacier airdrop nears. Linked to the Midnight sidechain, the airdrop will distribute NIGHT tokens to eligible ADA holders. While the ADA shows a bullish double-bottom pattern, analysts caution that the upside may be short-lived, as investors may sell after the airdrop. Technical support at $0.5133 remains key.
GMX Hit by $42M Exploit, Offers Hacker 10% Bounty for Return
GMX lost $42 million in a major exploit targeting its v1 GLP pool on Arbitrum. The attacker used a re-entrancy bug and funneled funds via Tornado Cash. GMX has paused trading, assured v2 is safe, and offered a $ 4.2 M bounty (approximately 10%) for the return of funds, with no legal consequences if done within 48 hours.
Ripple Taps BNY Mellon for Custody of RLUSD Reserves
Ripple has partnered with BNY Mellon to manage reserves for its RLUSD stablecoin, signaling a push toward institutional-grade infrastructure. With over $500 million in circulation and regulatory approvals in the U.S. and Dubai, RLUSD is gaining momentum. BNY Mellon’s role enhances trust as Wall Street banks expand their involvement in stablecoin custody and settlements.
Binance Boosts BNB Chain Speed With Fast Finality Upgrade
BNB Chain transactions on Binance are now 83% faster, confirming in under 4 seconds, thanks to Fast Finality. The upgrade reduces block confirmations from 15 to 5, making swaps, deposits, and trades nearly instant. This marks a significant leap in blockchain efficiency, allowing developers to build faster and more reliable DeFi and trading tools.
Truth Social Files for Blue Chip Crypto ETF Backed by Trump Media
Trump Media’s Truth Social has filed to launch the “Crypto Blue Chip ETF,” offering exposure to BTC, ETH, SOL, XRP, and CRO. Structured as a passive fund with staking benefits and Crypto.com as custodian, it awaits SEC approval. The move signals a bold step toward mainstream crypto access through a Trump-linked brand.
Chainlink at Crossroads as Analysts Watch Key Resistance Levels
Chainlink (LINK) hovers around $13.30, stuck in a tightening triangle as bulls and bears battle for control. Analysts spot a potential double-bottom setup, but warn that failure to clear resistance near $13.60 could send LINK tumbling. With whale dominance high and active wallets down 64% since April, the next breakout—or breakdown—may arrive any moment.
Binance Activates Fast Finality on BNB Chain for Lightning-Fast Settlements
Binance has fully integrated Fast Finality on BNB Chain, reducing transaction confirmation times by over 83%, from 45 seconds to under 4 seconds. This major upgrade boosts speed, reliability, and security across DeFi, NFT, and trading operations. It also sets the stage for more advanced features, such as gasless transactions and AI-powered tools, on BNB Chain.
