Bitcoin price broke past $124,000 this week, briefly overtaking Google’s $2.45 trillion valuation and fueling talk it could challenge Apple’s $3.4 trillion lead.
U.S. spot Bitcoin and Ether ETFs also hit record volumes, with Ether funds pulling in nearly $3B. But volatility struck too after a $7K Bitcoin drop triggered $1.2B in liquidations.
Meanwhile, Solana reclaimed $200, Polkadot eyed ETF-driven momentum, and new filings put XRP, Cardano, Hedera, and even TRUMP Coin in the spotlight.
From altcoin rallies to SEC regulation chatter, this week’s crypto market news delivered plenty of fuel for bulls and bears alike. Scroll down for the full recap.
Polkadot Set for Breakout on ETF Hopes and Major Upgrades
Polkadot (DOT) may be gearing up for a major rebound after years of sideways trading. Traders are eyeing SEC approval of 21Shares and Grayscale’s DOT ETFs, the long-awaited JAM protocol upgrade under Gavin Wood, and rising adoption across apps like Hydration and FIFA Rivals. Supply cuts and technical patterns also hint at upside momentum.
Bitcoin Drops $7K as $1.2B Liquidations Rock Crypto Market
The crypto market tumbled on Thursday, with Bitcoin sliding over $7,000 and major altcoins like Solana and Cardano falling more than 5%. Analysts point to a bearish double-top pattern and renewed stagflation fears after hot U.S. inflation data. Liquidations surged past $1.2B, sparking panic, though ETF optimism and future rate cuts keep the bull case alive.
Canary Capital Pushes for First TRUMP Coin Spot ETF
Canary Capital has registered the Canary Trump Coin ETF in Delaware, aiming to launch the first spot ETF tied to the $1.9B Solana-based TRUMP Coin. The move gives institutional investors regulated access to the memecoin while bypassing custody hurdles. If approved, it could mark Wall Street’s entry into speculative altcoin investing.
Solana Surges Past $200 as ETF Hopes Fuel $457 Price Target
Solana (SOL) jumped over 10% in 24 hours, reclaiming $200 with trading volume up 127% to $13.5B. Momentum is fueled by growing odds of a U.S. Solana ETF approval, strong DeFi growth, and bullish technicals. Analysts see $233 as the key breakout level, with upside targets stretching toward $300 and even $457 this year.
XRP Eyes $1,000, But Realistic Targets Look Closer to $10
XRP has surged 122,500% since launch and now sits near $3.28 with a $180B market cap, making it crypto’s third-largest asset. A bold analyst sees XRP hitting $1,000 as a bridge for tokenized assets, but that would imply a $59T market cap. Realistically, charts suggest a near-term breakout toward $5–$10.
Grayscale Pushes Cardano and Hedera ETFs Into Spotlight
Grayscale Investments has registered new statutory trusts in Delaware for Cardano and Hedera, laying the groundwork for future spot ETFs. While not yet approved, the move mirrors earlier Bitcoin and Ethereum launches. With SEC reviews already underway, analysts see this as a key step in bringing ADA and HBAR into mainstream U.S. investment markets.
ALT5 Sigma Secures $1.5B, Aligns With Trump-Backed WLFI Strategy
ALT5 Sigma (Nasdaq: ALTS) has raised $1.5 billion to fuel the World Liberty Financial Treasury Strategy, backed by the Trump family. The deal issues 200M shares at $7.50, half funded with WLFI tokens, giving ALT5 7.5% of WLFI’s supply. The move brings Eric Trump onto the board and positions ALT5 as a capital-backed crypto powerhouse.
