China has regained 14–20% of the global Bitcoin mining market, signaling a strong comeback in the worldwide crypto mining race. After years of strict regulations, Chinese miners are re-entering the market, leveraging advanced technology and low-cost electricity.

China Regains 14-20% Share of Global Bitcoin Mining; Surges Back into Global Mining Race 

New Zealand introduces digital currency to its financial education program for school children starting next year. The move reflects the need for comprehensive financial awareness for the next generation navigating the digital economic landscape.


New Zealand to Introduce Digital Currency Learning in 2026

Bitcoin’s recent drop has triggered an unexpected surge in buying activity across Indian crypto platforms. Multiple exchanges reported that investors used the downturn to accumulate rather than exit. Even as the global market saw over a billion dollars in liquidations and tokens held since 2020–2022 began moving again, Indian participation rose sharply.

Indians Pick Ethereum & Bitcoin After Market Crash

Last week saw significant turbulence on wall street, triggered by a crypto crash that unsettled broader risk assets. As bitcoin plunged, market makers faced additional pressure in an already fragile trading environment. From stocks, to gold, to oil, almost every asset class ended the week deep in the red. 


Wall Street Stumbles as Risk Selloff Widens

Wednesday marked the beginning of a new phase in the big crypto meltdown of 2025. Bitcoin has now extended that crash to hit its lowest level in over seven months to crash below 87,000 dollars. In the current bear run. Over 1.3 trillion dollars have been wiped out from the crypto markets' value.


Bitcoin Crashes to Seven-Month Low, $1 Trillion Wiped from Crypto Market

Bitcoin has plunged below $90,000, wiping out all gains for the year as fear sweeps through the crypto market. During Asia trading, deep-pocketed buyers retreated and options traders piled into increasingly bearish bets, signalling expectations of an even deeper fall toward $80,000. Here’s a breakdown of the crash, the market sentiment, and what traders are preparing for next.

Bitcoin Crashes Below $90,000 as Fear Grips Traders Targeting $80K 

Bitcoin is tumbling — and fear is rising fast among traders. Protective options activity is surging around the $90K, $85K, and $80K levels, as many expect further downside.

Bitcoin May Collapse to $80K as Fear Grips Traders

China has accused the United States of stealing $13 billion worth of Bitcoin in what it calls a “state-level hacker operation.” Beijing’s cybersecurity agency alleges that U.S. authorities were behind the 2020 LuBian Bitcoin mining pool hack, one of the largest crypto breaches in history. Washington, however, has charged Cambodian billionaire Chen Zhi with money laundering linked to the same funds, deepening tensions between the two powers.

China Blames U.S. for $13 Billion Bitcoin Heist | ‘State-Level Hack,’ Says Beijing 

China has officially accused the United States of orchestrating a scheme to steal $14 billion worth of Bitcoin, allegedly one of the largest cryptocurrency thefts in history. The claim marks the latest twist in the long-running saga of the LuBian crypto mining pool. What really happened, and how is the whole story related to the ‘pig butchering scam’ and the baby-faced crypto entrepreneur Chen Zhi? Here is what you should know.<h2>The hack of LuBian</h2>LuBian was a China-based Bitcoin mining pool that reportedly operated facilities in both China and Iran. In December 2020, it was hit by a major cyberattack in which an estimated 127,426 Bitcoins were stolen. According to blockchain analysts, the cryptocurrency—worth about $3.5 billion at the time—is now valued at roughly $14 billion. The attackers allegedly drained LuBian’s “hot wallets” by exploiting vulnerabilities in its private key management system and possibly using zero-day exploits. Following the breach, LuBian’s operations quickly declined, and by early 2021, the mining pool went largely offline.Also read: <a href="https://www.wionews.com/trending/chinese-crypto-queen-in-london-she-duped-thousands-of-china-s-elderly-fled-to-the-uk-with-billions-and-got-caught-1762850563158">Chinese Crypto Queen in London: She duped thousands of China’s elderly, fled to the UK with billions – and got caught</a><h2>China’s fresh accusation of US involvement in the LuBian hack</h2>On Tuesday (Nov 11), the Chinese National Computer Virus Emergency Response Centre (CVERC) publicly accused the US government of being behind the 2020 LuBian hack. In an official report, CVERC claimed that the operation was a “state-level theft” carried out by American intelligence agencies using advanced hacking tools similar to those used in operations such as Stuxnet—the joint US-Israeli cyberattack that targeted Iran’s nuclear programme in 2010. According to CVERC, US agencies infiltrated LuBian’s systems, stole the Bitcoin, and kept the funds dormant until 2024. That year, the US Department of Justice (DOJ) seized nearly the same amount—127,271 BTC—as part of a criminal forfeiture case linked to Cambodian businessman Chen Zhi. At the time, it was described as the largest cryptocurrency forfeiture in US history.CVERC argued that the DOJ’s seizure was an attempt to legitimise the stolen funds, framing the move as “thieves recovering their own loot”.&nbsp;Also read: <a href="https://www.wionews.com/trending/remains-of-russian-crypto-millionaire-and-wife-found-buried-in-uae-desert-after-attempted-loot-1762917676726">Russian thugs dismember and bury crypto millionaire and wife after finding their crypto wallets were empty</a><h2>Who is Chen Zhi, and what is his crime?</h2>Chen Zhi is the founder of the Prince Group conglomerate. The US maintains that the 2024 Bitcoin seizure was lawful, as it was the wallet owned by Chen Zhi's group inside the LuBian mining pool. US court documents accused Chen Zhi of running a $6 billion global investment fraud through a company called EZ Blockchain, selling fake crypto mining equipment and laundering the proceeds. Chen is reportedly a fugitive and remains wanted by US authorities.<a href="https://www.wionews.com/videos/trump-praises-bitcoin-s-role-in-supporting-dollar-stability-1762493927574/embed">https://www.wionews.com/videos/trump-praises-bitcoin-s-role-in-supporting-dollar-stability-1762493927574/embed</a><h2>How the LuBian case is linked to the ‘pig butchering scams’</h2>Investigators alleged that Chen Zhi’s operations may have overlapped with the so-called “pig butchering” scams. These are online fraud schemes in which victims are encouraged to invest in fake cryptocurrency platforms before being “slaughtered”, when their funds vanish. US prosecutors alleged that parts of Chen’s network promoted fraudulent mining investments similar to those used in pig butchering scams. They allegedly funnelled proceeds through LuBian to obscure their origins. If true, this would mean the same infrastructure tied to the LuBian hack also helped launder funds from global crypto scams across Asia, Europe and North America.Also read: <a href="https://www.wionews.com/business-economy/why-are-crypto-markets-falling-1760706709071">Why are crypto markets falling? Explained</a><h2>Crypto, cyberwarfare, crime and global politics: Why the LuBian case is important</h2>The LuBian dispute highlights how cryptocurrency, geopolitics, and cyberwarfare increasingly intersect. China sees the alleged hack as part of a broader US effort to undermine its economic and technological influence, while the US portrays its actions as legitimate law enforcement against international fraud. Blockchain analysts say the wallets seized by the DOJ match those from the 2020 hack, but there is no independent evidence linking the breach to US intelligence agencies. The incident underlines how cryptocurrencies have become a new front in global power struggles.

China has accused the US of stealing $14 billion worth of Bitcoin from the LuBian mining pool. LuBian is linked to Chen Zhi, a fugitive entrepreneur accused of fraud and 'pig butchering scams'. Know more about the fascinating saga of cyberwarfare and geopolitical tensions over cryptocurrency.


China has officially accused the United States of orchestrating a scheme to steal $14 billion worth of Bitcoin, allegedly one of the largest cryptocurrency thefts in history. The claim marks the latest twist in the long-running saga of the LuBian crypto mining pool. What really happened, and how is the whole story related to the ‘pig butchering scam’ and the baby-faced crypto entrepreneur Chen Zhi? Here is what you should know. The hack of LuBian LuBian was a China-based Bitcoin mining pool that reportedly operated facilities in both China and Iran. In December 2020, it was hit by a major cyberattack in which an estimated 127,426 Bitcoins were stolen. According to blockchain analysts, the cryptocurrency—worth about $3.5 billion at the time—is now valued at roughly $14 billion. The attackers allegedly drained LuBian’s “hot wallets” by exploiting vulnerabilities in its private key management system and possibly using zero-day exploits. Following the breach, LuBian’s operations quickly declined, and by early 2021, the mining pool went largely offline. Also read: Chinese Crypto Queen in London: She duped thousands of China’s elderly, fled to the UK with billions – and got caught China’s fresh accusation of US involvement in the LuBian hack On Tuesday (Nov 11), the Chinese National Computer Virus Emergency Response Centre (CVERC) publicly accused the US government of being behind the 2020 LuBian hack. In an official report, CVERC claimed that the operation was a “state-level theft” carried out by American intelligence agencies using advanced hacking tools similar to those used in operations such as Stuxnet—the joint US-Israeli cyberattack that targeted Iran’s nuclear programme in 2010. According to CVERC, US agencies infiltrated LuBian’s systems, stole the Bitcoin, and kept the funds dormant until 2024. That year, the US Department of Justice (DOJ) seized nearly the same amount—127,271 BTC—as part of a criminal forfeiture case linked to Cambodian businessman Chen Zhi. At the time, it was described as the largest cryptocurrency forfeiture in US history. CVERC argued that the DOJ’s seizure was an attempt to legitimise the stolen funds, framing the move as “thieves recovering their own loot”. Also read: Russian thugs dismember and bury crypto millionaire and wife after finding their crypto wallets were empty Who is Chen Zhi, and what is his crime? Chen Zhi is the founder of the Prince Group conglomerate. The US maintains that the 2024 Bitcoin seizure was lawful, as it was the wallet owned by Chen Zhi's group inside the LuBian mining pool. US court documents accused Chen Zhi of running a $6 billion global investment fraud through a company called EZ Blockchain, selling fake crypto mining equipment and laundering the proceeds. Chen is reportedly a fugitive and remains wanted by US authorities. https://www.wionews.com/videos/trump-praises-bitcoin-s-role-in-supporting-dollar-stability-1762493927574/embed How the LuBian case is linked to the ‘pig butchering scams’ Investigators alleged that Chen Zhi’s operations may have overlapped with the so-called “pig butchering” scams. These are online fraud schemes in which victims are encouraged to invest in fake cryptocurrency platforms before being “slaughtered”, when their funds vanish. US prosecutors alleged that parts of Chen’s network promoted fraudulent mining investments similar to those used in pig butchering scams. They allegedly funnelled proceeds through LuBian to obscure their origins. If true, this would mean the same infrastructure tied to the LuBian hack also helped launder funds from global crypto scams across Asia, Europe and North America. Also read: Why are crypto markets falling? Explained Crypto, cyberwarfare, crime and global politics: Why the LuBian case is important The LuBian dispute highlights how cryptocurrency, geopolitics, and cyberwarfare increasingly intersect. China sees the alleged hack as part of a broader US effort to undermine its economic and technological influence, while the US portrays its actions as legitimate law enforcement against international fraud. Blockchain analysts say the wallets seized by the DOJ match those from the 2020 hack, but there is no independent evidence linking the breach to US intelligence agencies. The incident underlines how cryptocurrencies have become a new front in global power struggles.

China has accused the US of stealing $14 billion worth of Bitcoin from the LuBian mining pool. LuBian is linked to Chen Zhi, a fugitive entrepreneur accused of fraud and 'pig butchering scams'. Know more about the fascinating saga of cyberwarfare and geopolitical tensions over cryptocurrency

China accuses US of $14 billion Bitcoin theft: How is LuBian hack linked to 'pig butchering scam' and Chen Zhi?

The idea that bitcoin eases pressure on the U.S. Dollar is a subject of ongoing debate among economists and political figures, with no universal consensus. However, on Wednesday, trump once again insisted that bitcoin has assisted in easing the pressure on the dollar, among the many other advantages of the OG token.


Trump Praises Bitcoin’s Role in Supporting Dollar Stability

Consumers and businesses are increasingly using stablecoins, digital tokens pegged to the US Dollar, to make real-world purchases and payments. 


Stablecoins go mainstream amid regulation push

Cryptocurrency markets face renewed pressure as altcoins drop around 6%, while Bitcoin struggles to regain momentum following a decisive breakdown, signaling a deepening crypto selloff.


Bitcoin struggles to find momentum after decisive breakdown 

Comparison between Gold and Bitcoin as investment options, analyzing their performance, volatility, and potential returns to help investors decide which asset shines brighter in today’s market.


Explainer: Gold vs Bitcoin, which shines brighter for investors? 

The crypto markets were rocked on Friday as over $131 billion was wiped out in a massive selloff, devastating entire ecosystems of speculative tokens. From memecoins to altcoins, countless projects have been left in the dust, with investors reeling from one of the worst crashes of the year.


Crypto market loses $131b in hours, Trump's social post drives historic wipeout 

The US government has seized more than $15bn in bitcoin and charged the founder of a Cambodian business empire, the Prince Group, with allegedly masterminding a massive cryptocurrency scam, which involved forced labour camps.


What is 'pig-butchering'? Prince Group accused of money laundering

Bitcoin: Crypto traders saw more than 1.7 billion dollars in bullish bets liquidated on monday. That triggered a sharp selloff, sending ether and other tokens plunging.


Bitcoin: What's Next After Bitcoin's Flash Crash to Below $113,000 

Bitcoin is back in the headlines, soaring to yet another all-time high. The latest price milestone comes as companies and institutional players ramp up their exposure to the world’s largest cryptocurrency.


Bitcoin surges past $124,000 driven by corporate & institutional interest 

Bitcoin surged to a fresh all-time high on August 14, breaking past the $124,500 mark during early Asian trading, as optimism over US monetary easing and sweeping pro-crypto reforms under US President Donald Trump propelled the market higher. The world’s largest cryptocurrency by market capitalisation rose as much as 1.27 per cent to $124,514.57 before trimming gains to trade 0.6 per cent higher at $123,690 as of 8:30 am IST. The rally lifted Bitcoin’s market value to around $2.5 trillion, according to CoinGecko. Year to date, the token has jumped roughly 32 per cent and nearly 80 per cent since Trump’s election victory in November 2024.The latest leg up came after Wall Street’s main indexes hit record closing highs for the second consecutive day on August 13, with the S&amp;P 500 rising 0.32 per cent and the Nasdaq adding 0.14 per cent. Risk-on sentiment has been buoyed by mounting expectations that the Federal Reserve will begin cutting interest rates as early as September. US Treasury Secretary Scott Bessent has publicly urged a half-point cut, while speculation grows that Trump may replace the Fed chair sooner than anticipated.<h2>Trump’s policy pivot unlocks retirement savings for crypto</h2>Momentum in the digital asset space intensified last week when Trump signed an executive order enabling 401(k) retirement accounts to invest in alternative assets, including cryptocurrencies. The directive could open up the $8.9 trillion US retirement savings market to the sector, sparking optimism for deeper institutional involvement. Trump’s administration has also rolled back restrictions that previously discouraged banks from working with crypto firms and overseen the passage of stablecoin regulations.&nbsp;<h2>Altcoins soar alongside Bitcoin</h2>Ethereum (ETH), the second-largest cryptocurrency, hit $4,785.67, its highest level since late 2021, before easing to $4,748.99. Cardano (ADA) jumped 11 per cent, Solana (SOL) gained 4.1 per cent, Dogecoin (DOGE) rose 5 per cent, and Binance Coin (BNB) advanced 0.89 per cent. The broader crypto market capitalisation has ballooned to over $4.18 trillion, up from about $2.5 trillion in November 2024, according to CoinMarketCap. Analysts say a decisive break above $125,000 could set Bitcoin on course for $150,000, further cementing its position as the year’s top-performing major asset.&nbsp;(With inputs from agency)

Risk-on sentiment has been buoyed by mounting expectations that the Federal Reserve will begin cutting interest rates as early as September. US Treasury Secretary has publicly urged a half-point cut, while speculation grows that Trump may replace the Fed chair sooner than anticipated.

Bitcoin surged to a fresh all-time high on August 14, breaking past the $124,500 mark during early Asian trading, as optimism over US monetary easing and sweeping pro-crypto reforms under US President Donald Trump propelled the market higher. The world’s largest cryptocurrency by market capitalisation rose as much as 1.27 per cent to $124,514.57 before trimming gains to trade 0.6 per cent higher at $123,690 as of 8:30 am IST. The rally lifted Bitcoin’s market value to around $2.5 trillion, according to CoinGecko. Year to date, the token has jumped roughly 32 per cent and nearly 80 per cent since Trump’s election victory in November 2024. The latest leg up came after Wall Street’s main indexes hit record closing highs for the second consecutive day on August 13, with the S&P 500 rising 0.32 per cent and the Nasdaq adding 0.14 per cent. Risk-on sentiment has been buoyed by mounting expectations that the Federal Reserve will begin cutting interest rates as early as September. US Treasury Secretary Scott Bessent has publicly urged a half-point cut, while speculation grows that Trump may replace the Fed chair sooner than anticipated. Trump’s policy pivot unlocks retirement savings for crypto Momentum in the digital asset space intensified last week when Trump signed an executive order enabling 401(k) retirement accounts to invest in alternative assets, including cryptocurrencies. The directive could open up the $8.9 trillion US retirement savings market to the sector, sparking optimism for deeper institutional involvement. Trump’s administration has also rolled back restrictions that previously discouraged banks from working with crypto firms and overseen the passage of stablecoin regulations. Altcoins soar alongside Bitcoin Ethereum (ETH), the second-largest cryptocurrency, hit $4,785.67, its highest level since late 2021, before easing to $4,748.99. Cardano (ADA) jumped 11 per cent, Solana (SOL) gained 4.1 per cent, Dogecoin (DOGE) rose 5 per cent, and Binance Coin (BNB) advanced 0.89 per cent. The broader crypto market capitalisation has ballooned to over $4.18 trillion, up from about $2.5 trillion in November 2024, according to CoinMarketCap. Analysts say a decisive break above $125,000 could set Bitcoin on course for $150,000, further cementing its position as the year’s top-performing major asset. (With inputs from agency)

Risk-on sentiment has been buoyed by mounting expectations that the Federal Reserve will begin cutting interest rates as early as September. US Treasury Secretary has publicly urged a half-point cut, while speculation grows that Trump may replace the Fed chair sooner than anticipated.

Bitcoin smashes past $124,500 amid Fed rate-cut hopes, Trump’s crypto push fuel rally

A man who has been fighting since 2013 to excavate a landfill where a hard drive with Bitcoin worth $923 million today landed after a grave error has come up with a new plan to gain access to it. James Howells has been trying to recover 8,000 Bitcoin for 12 years that were accidentally thrown away by his girlfriend. He told Decrypt that he had done everything to get into the landfill in Newport, Wales, and dig up his Bitcoin-filled hard disk. However, all his efforts have failed, but he refuses to give up. Despite not having his Bitcoin, Howells is launching a Bitcoin L2 “backed” by the lost funds. He says a court had recognised that he is the legal owner of the cryptocurrency in the landfill, and so he can float the new network called Ceiniog. Howells thinks that Ceiniog’s market capitalisation will rise to $923 million based on the Bitcoin he theoretically owns. The value means it would become the 81st-largest cryptocurrency. Howells is on paper only $77 million away from becoming a billionaire. His new plan comes after 12 years of effort to get into the landfill for a search that failed. Also Read: <a href="https://www.wionews.com/trending/bitcoin-shark-left-btc-worth-7-800-in-his-wallet-for-14-years-he-is-now-a-billionaire-1752212119370">Bitcoin shark left BTC worth $7,800 in his wallet for 14 years. He just realised he is now a billionaire</a>&nbsp;https://www.wionews.com/videos/can-bitcoin-displace-regular-currencies-for-regular-payments-1753160348770/embed<h2>How James Howells lost more than 8,000 BTC</h2>Howells took the legal route, filed public proposals and even offered to buy the landfill for $3 million. But, he says it was all like talking to a wall as no one paid any heed to his requests. Howells' bad luck started when his then-girlfriend threw the hard drive with the keys to his more than 8,000 BTC during an office cleanup. He worked out where it could have ended up and zeroed in on the landfill in Newport, Wales. He then approached the local council for a permit to dig up the landfill. He reached the court, but his case was dismissed by the judge, citing legal concerns. When nothing else worked, he proposed purchasing the landfill. However, his request by ignored. Howells told decrypt, “It seems that, anyway I try, the establishment in this country is never going to allow this to happen." He added that as the value of Bitcoin went up, he assumed things would be smoothed over. "Well, we're at [$923 million] today, and they still won't talk to me," he said.

James Howells has been trying to gain access to a landfill in Wales where his hard disk with 8,000 Bitcoin ended up 12 years ago. All his efforts have failed, and he has now come up with a new plan to recover the amount based on the BTC he does not own.  

A man who has been fighting since 2013 to excavate a landfill where a hard drive with Bitcoin worth $923 million today landed after a grave error has come up with a new plan to gain access to it. James Howells has been trying to recover 8,000 Bitcoin for 12 years that were accidentally thrown away by his girlfriend. He told Decrypt that he had done everything to get into the landfill in Newport, Wales, and dig up his Bitcoin-filled hard disk. However, all his efforts have failed, but he refuses to give up. Despite not having his Bitcoin, Howells is launching a Bitcoin L2 “backed” by the lost funds. He says a court had recognised that he is the legal owner of the cryptocurrency in the landfill, and so he can float the new network called Ceiniog. Howells thinks that Ceiniog’s market capitalisation will rise to $923 million based on the Bitcoin he theoretically owns. The value means it would become the 81st-largest cryptocurrency. Howells is on paper only $77 million away from becoming a billionaire. His new plan comes after 12 years of effort to get into the landfill for a search that failed. Also Read: Bitcoin shark left BTC worth $7,800 in his wallet for 14 years. He just realised he is now a billionaire https://www.wionews.com/videos/can-bitcoin-displace-regular-currencies-for-regular-payments-1753160348770/embed How James Howells lost more than 8,000 BTC Howells took the legal route, filed public proposals and even offered to buy the landfill for $3 million. But, he says it was all like talking to a wall as no one paid any heed to his requests. Howells' bad luck started when his then-girlfriend threw the hard drive with the keys to his more than 8,000 BTC during an office cleanup. He worked out where it could have ended up and zeroed in on the landfill in Newport, Wales. He then approached the local council for a permit to dig up the landfill. He reached the court, but his case was dismissed by the judge, citing legal concerns. When nothing else worked, he proposed purchasing the landfill. However, his request by ignored. Howells told decrypt, “It seems that, anyway I try, the establishment in this country is never going to allow this to happen." He added that as the value of Bitcoin went up, he assumed things would be smoothed over. "Well, we're at [$923 million] today, and they still won't talk to me," he said.

James Howells has been trying to gain access to a landfill in Wales where his hard disk with 8,000 Bitcoin ended up 12 years ago. All his efforts have failed, and he has now come up with a new plan to recover the amount based on the BTC he does not own. &nbsp;

Man gives up 12-year fight to recover $923 million Bitcoin his girlfriend threw out

The global cryptocurrency market capitalisation briefly topped $4 trillion on July 18 for the first time, marking a historic milestone in the asset class’s journey from speculative fringe to a central pillar of global finance. The surge comes on the back of a legislative breakthrough in the United States, rising institutional flows, and renewed confidence in digital assets across both retail and corporate sectors. According to data from CoinGecko, the crypto market hit a peak valuation of $4.01 trillion before paring gains to $3.92 trillion, as Bitcoin, the world’s largest cryptocurrency, retreated 1.5 per cent from a record high of $123,205 earlier in the week to $117,665. Ethereum (ETH), the second-largest token, rose 6.4 per cent to $3,647, continuing a sharp rally that has seen it more than double in the past three months.<h2>Trump-backed bills reshape crypto landscape</h2>The rally followed the US House of Representatives’ passage of the GENIUS Act, the first federal legislation governing stablecoins, which are cryptocurrencies pegged to the US dollar and widely used for on-chain payments and trading. President Donald Trump signed the bill into law later on July 18.Lawmakers also passed two additional bills—the CLARITY Act, which provides a legal framework for broader crypto assets, and another bill prohibiting the creation of a US central bank digital currency (CBDC). Industry experts say the legislation represents a turning point in Washington’s stance on crypto.<h2>Altcoins, ETFs, and corporates drive momentum</h2>While Bitcoin remains the dominant force, accounting for roughly 60 per cent of market cap, the latest leg of the rally has been powered by altcoins like Ether, Uniswap, and Solana, which surged 6.4 per cent, 24 per cent and 6.5 per cent, respectively, on July 18. Analysts suggest the market is entering an “altcoin season” as investors rotate into riskier, high-growth tokens.This altcoin momentum has been further buoyed by the rise of crypto treasury companies, which mimic MicroStrategy’s model of using equity and debt to build token portfolios. MEI Pharma, for example, doubled its stock price after announcing a $100 million Litecoin treasury investment.On the institutional side, spot crypto ETFs continue to see robust demand. Bitcoin ETFs drew $5.5 billion in inflows so far this month, while Ether ETFs attracted $2.9 billion, signalling growing long-term confidence.<h2>Consolidation ahead? Traders eye $110K support</h2>Despite the bullish sentiment, analysts are beginning to watch for consolidation. QCP Capital noted that Bitcoin may retest support near $110,000, calling it “a more stable foundation” for the next leg of the rally. On Myriad, a blockchain-based prediction platform, over 90 per cent of users polled do not expect Bitcoin to close above $122,000 by week’s end.Still, the market’s upward momentum shows few signs of slowing. Forecasts from Bernstein suggest Bitcoin could hit $200,000 by year-end if ETF flows and regulatory clarity continue at this pace. As regulatory frameworks begin to take shape in the US and institutional adoption deepens, digital assets appear to be entering a new era of legitimacy.

The rally followed the US House of Representatives’ passage of the GENIUS Act, the first federal legislation governing stablecoins, which are cryptocurrencies pegged to the US dollar and widely used for on-chain payments and trading.

The global cryptocurrency market capitalisation briefly topped $4 trillion on July 18 for the first time, marking a historic milestone in the asset class’s journey from speculative fringe to a central pillar of global finance. The surge comes on the back of a legislative breakthrough in the United States, rising institutional flows, and renewed confidence in digital assets across both retail and corporate sectors. According to data from CoinGecko, the crypto market hit a peak valuation of $4.01 trillion before paring gains to $3.92 trillion, as Bitcoin, the world’s largest cryptocurrency, retreated 1.5 per cent from a record high of $123,205 earlier in the week to $117,665. Ethereum (ETH), the second-largest token, rose 6.4 per cent to $3,647, continuing a sharp rally that has seen it more than double in the past three months. Trump-backed bills reshape crypto landscape The rally followed the US House of Representatives’ passage of the GENIUS Act, the first federal legislation governing stablecoins, which are cryptocurrencies pegged to the US dollar and widely used for on-chain payments and trading. President Donald Trump signed the bill into law later on July 18. Lawmakers also passed two additional bills—the CLARITY Act, which provides a legal framework for broader crypto assets, and another bill prohibiting the creation of a US central bank digital currency (CBDC). Industry experts say the legislation represents a turning point in Washington’s stance on crypto. Altcoins, ETFs, and corporates drive momentum While Bitcoin remains the dominant force, accounting for roughly 60 per cent of market cap, the latest leg of the rally has been powered by altcoins like Ether, Uniswap, and Solana, which surged 6.4 per cent, 24 per cent and 6.5 per cent, respectively, on July 18. Analysts suggest the market is entering an “altcoin season” as investors rotate into riskier, high-growth tokens. This altcoin momentum has been further buoyed by the rise of crypto treasury companies, which mimic MicroStrategy’s model of using equity and debt to build token portfolios. MEI Pharma, for example, doubled its stock price after announcing a $100 million Litecoin treasury investment. On the institutional side, spot crypto ETFs continue to see robust demand. Bitcoin ETFs drew $5.5 billion in inflows so far this month, while Ether ETFs attracted $2.9 billion, signalling growing long-term confidence. Consolidation ahead? Traders eye $110K support Despite the bullish sentiment, analysts are beginning to watch for consolidation. QCP Capital noted that Bitcoin may retest support near $110,000, calling it “a more stable foundation” for the next leg of the rally. On Myriad, a blockchain-based prediction platform, over 90 per cent of users polled do not expect Bitcoin to close above $122,000 by week’s end. Still, the market’s upward momentum shows few signs of slowing. Forecasts from Bernstein suggest Bitcoin could hit $200,000 by year-end if ETF flows and regulatory clarity continue at this pace. As regulatory frameworks begin to take shape in the US and institutional adoption deepens, digital assets appear to be entering a new era of legitimacy.

The rally followed the US House of Representatives’ passage of the GENIUS Act, the first federal legislation governing stablecoins, which are cryptocurrencies pegged to the US dollar and widely used for on-chain payments and trading.

Crypto market surpasses $4 trillion milestone amid US regulatory breakthrough

Bitcoin saw a sharp decline on July 15, falling below the $117,000 mark after a procedural vote to advance key cryptocurrency bills was blocked in the House of Representatives. The price of Bitcoin dropped 2.8 per cent to $116,516, reversing earlier gains and marking a pullback from the day’s high of $120,481.86, according to Coin Metrics.The sharp decline came after a pivotal procedural vote, where 13 Republican lawmakers joined Democrats to block the motion, voting 196-223 against advancing the legislation. The bills, which had been anticipated to bring much-needed regulatory clarity to the crypto industry, were viewed as a potential catalyst for the continued rise in institutional investments, particularly in Bitcoin exchange-traded funds (ETFs).Stocks linked to the cryptocurrency sector also saw declines. Riot Platforms and Mara Holdings, both major Bitcoin miners, closed down 3.3 per cent and 2.3 per cent, respectively. Similarly, Coinbase, a major cryptocurrency exchange, slid 1.5 per cent in late trading hours. These declines followed the failed procedural vote, which delayed the progress of crucial crypto-related legislation.<h2>Trump seeks to revive crypto bills after setback</h2>However, the fate of the legislation took a sudden turn later on July 15 evening when former President Donald Trump intervened. In a post on Truth Social, Trump announced that a group of 11 Republican lawmakers who had originally voted to block the bills had changed their stance following a meeting at the White House. According to Trump, the lawmakers agreed to vote in favour of advancing the crypto bills in a vote scheduled for July 16.“I am in the Oval Office with 11 of the 12 congressmen/women necessary to pass the GENIUS Act, and, after a short discussion, they have all agreed to vote tomorrow morning in favour of the rule,” Trump wrote.The bills in question include the GENIUS Act, which seeks to regulate stablecoins, and the CLARITY Act, which would clarify whether digital assets should be classified as securities or commodities. A third bill aims to block the Federal Reserve from creating a central bank digital currency.House Speaker Mike Johnson expressed hope that the legislation could still move forward after additional discussions with members. “We are continuing to work on this issue and plan to vote on it again shortly,” he said after the vote.<h2>Crypto bill blockade undermines optimism</h2>The procedural block in the House was a major setback for the crypto industry, which had viewed Crypto Week as a key opportunity for Congress to pass legislation providing much-needed clarity and legitimacy. The failure of the vote marked an unexpected challenge for the crypto bills, which had previously seemed poised for swift passage. It also highlighted a rare instance where House Republicans resisted Trump’s influence, at least temporarily.The defeat was especially significant because it took place during a week when optimism had been building in the market, spurred by expectations that Congress might soon pass crypto-related legislation. Institutional investors had been piling into Bitcoin, pushing its price to all-time highs. Many saw the legislation as a potential catalyst for further growth in the digital asset space.<h2>Bitcoin bounces back after initial losses</h2>Despite the setback in Washington, Bitcoin and other cryptocurrencies showed signs of recovery early Wednesday. Bitcoin rebounded more than 1 per cent over the past 24 hours to $118,809, according to CoinDesk data, after briefly dropping following the procedural vote.This recovery came after Trump’s statement that the legislation, which includes the GENIUS Act and other crypto regulatory measures, could be passed as soon as July 16. The quick reversal in Bitcoin’s price underscores the market’s sensitivity to developments in US cryptocurrency policy and investor confidence in future regulatory clarity.&nbsp;&nbsp;(With inputs from agencies)

The sharp decline came after a pivotal procedural vote, where 13 Republican lawmakers joined Democrats to block the motion, voting 196-223 against advancing the legislation. 

Bitcoin saw a sharp decline on July 15, falling below the $117,000 mark after a procedural vote to advance key cryptocurrency bills was blocked in the House of Representatives. The price of Bitcoin dropped 2.8 per cent to $116,516, reversing earlier gains and marking a pullback from the day’s high of $120,481.86, according to Coin Metrics. The sharp decline came after a pivotal procedural vote, where 13 Republican lawmakers joined Democrats to block the motion, voting 196-223 against advancing the legislation. The bills, which had been anticipated to bring much-needed regulatory clarity to the crypto industry, were viewed as a potential catalyst for the continued rise in institutional investments, particularly in Bitcoin exchange-traded funds (ETFs). Stocks linked to the cryptocurrency sector also saw declines. Riot Platforms and Mara Holdings, both major Bitcoin miners, closed down 3.3 per cent and 2.3 per cent, respectively. Similarly, Coinbase, a major cryptocurrency exchange, slid 1.5 per cent in late trading hours. These declines followed the failed procedural vote, which delayed the progress of crucial crypto-related legislation. Trump seeks to revive crypto bills after setback However, the fate of the legislation took a sudden turn later on July 15 evening when former President Donald Trump intervened. In a post on Truth Social, Trump announced that a group of 11 Republican lawmakers who had originally voted to block the bills had changed their stance following a meeting at the White House. According to Trump, the lawmakers agreed to vote in favour of advancing the crypto bills in a vote scheduled for July 16. “I am in the Oval Office with 11 of the 12 congressmen/women necessary to pass the GENIUS Act, and, after a short discussion, they have all agreed to vote tomorrow morning in favour of the rule,” Trump wrote. The bills in question include the GENIUS Act, which seeks to regulate stablecoins, and the CLARITY Act, which would clarify whether digital assets should be classified as securities or commodities. A third bill aims to block the Federal Reserve from creating a central bank digital currency. House Speaker Mike Johnson expressed hope that the legislation could still move forward after additional discussions with members. “We are continuing to work on this issue and plan to vote on it again shortly,” he said after the vote. Crypto bill blockade undermines optimism The procedural block in the House was a major setback for the crypto industry, which had viewed Crypto Week as a key opportunity for Congress to pass legislation providing much-needed clarity and legitimacy. The failure of the vote marked an unexpected challenge for the crypto bills, which had previously seemed poised for swift passage. It also highlighted a rare instance where House Republicans resisted Trump’s influence, at least temporarily. The defeat was especially significant because it took place during a week when optimism had been building in the market, spurred by expectations that Congress might soon pass crypto-related legislation. Institutional investors had been piling into Bitcoin, pushing its price to all-time highs. Many saw the legislation as a potential catalyst for further growth in the digital asset space. Bitcoin bounces back after initial losses Despite the setback in Washington, Bitcoin and other cryptocurrencies showed signs of recovery early Wednesday. Bitcoin rebounded more than 1 per cent over the past 24 hours to $118,809, according to CoinDesk data, after briefly dropping following the procedural vote. This recovery came after Trump’s statement that the legislation, which includes the GENIUS Act and other crypto regulatory measures, could be passed as soon as July 16. The quick reversal in Bitcoin’s price underscores the market’s sensitivity to developments in US cryptocurrency policy and investor confidence in future regulatory clarity. (With inputs from agencies)

The sharp decline came after a pivotal procedural vote, where 13 Republican lawmakers joined Democrats to block the motion, voting 196-223 against advancing the legislation.&nbsp;

Crypto bill setback in House of Representatives delays legislation, sends Bitcoin price tumbling

Bitcoin (BTC) surged to a record-breaking high of $123,153.22 on July 14, continuing its meteoric rise and propelling the broader cryptocurrency market into new territory. The world’s largest digital asset has now surpassed $120,000 for the first time, marking a significant milestone in a year that has already seen impressive gains for Bitcoin. As the cryptocurrency set a new record, other digital tokens followed suit, with Ether reaching a five-month high of $3,048.2, further fuelling excitement across the crypto sector.&nbsp;This latest surge in Bitcoin’s price, up 27 per cent year-to-date, has sparked a ripple effect across the broader crypto market, with the total value of all cryptocurrencies now surpassing $3.8 trillion, according to CoinMarketCap. Crypto stocks and exchange-traded funds (ETFs) have also seen impressive gains, with Coinbase’s shares up 1.8 per cent and crypto ETFs drawing strong investor interest. Investors are increasingly looking to digital assets as a hedge against inflation and currency devaluation, with Bitcoin remaining a top choice for institutional buyers and retail investors alike.<h2>What is fuelling the Bitcoin rally?</h2>Several key factors have contributed to Bitcoin’s recent surge. One of the most significant drivers is institutional buying, with companies like Strategy leading the charge. Strategy announced last week that it had acquired an additional 4,225 Bitcoin, bringing its total holdings to an eye-popping 601,550 Bitcoin. Such large institutional purchases contribute to a bullish sentiment in the market, driving prices higher as demand for Bitcoin continues to outpace supply.Another important catalyst for Bitcoin’s rally is the optimism surrounding the “Crypto Week” in the US. The week of July 14 has been dubbed Crypto Week by US Republicans, during which the US House of Representatives is set to debate and vote on three crucial pieces of cryptocurrency legislation. These bills, if passed, could provide much-needed regulatory clarity for the industry, reducing uncertainty that has often held back crypto companies and institutional investors from fully committing to the space.The most significant of these bills is the GENIUS Act, which aims to provide a regulatory framework for stablecoins and other digital assets, offering clear guidelines on their classification. The Clarity Act seeks to limit the ability of federal agencies to regulate cryptocurrencies through court rulings, ensuring that Congress, not the courts, defines how digital assets are governed. Finally, the Anti-CBDC Surveillance State Act is a bill designed to block the Federal Reserve from issuing a Central Bank Digital Currency (CBDC), arguing that such a move would enable the government to monitor citizens’ financial activities and infringe upon personal privacy.With these bills likely to provide a clearer path for crypto businesses to operate and attract institutional investment, investors are optimistic that the legislation will continue to support the current rally in Bitcoin and other cryptocurrencies.<h2>Crypto Week and what’s at stake for the industry</h2>The events of this week, dubbed Crypto Week, could prove pivotal in shaping the future of cryptocurrency in the US. The three proposed bills are expected to address several critical issues, including how digital assets are classified, the regulatory framework for stablecoins, and the potential dangers posed by central bank digital currencies.The passage of the GENIUS Act, which would clarify how digital assets like crypto tokens are classified, could be a game-changer for the industry. By providing clearer guidelines for startups and businesses, it would eliminate much of the legal uncertainty that has previously surrounded crypto projects, making it easier for companies to issue their own digital tokens and raise capital.In addition to the regulatory clarity provided by the GENIUS Act and Clarity Act, the Anti-CBDC Surveillance State Act would ensure that cryptocurrencies remain outside of the scope of government surveillance. With privacy concerns on the rise, especially around the potential for central bank digital currencies to track individuals’ financial transactions, this bill is seen as a vital safeguard for protecting users’ privacy in the crypto space.However, not all lawmakers are on board with the proposed legislation. Democrats, particularly those aligned with the Biden administration, have raised concerns that the bills would be too favourable to the crypto industry, potentially undermining securities laws and allowing for more volatility in the market. Critics argue that the bills could enable public officials, including Trump, to profit from crypto tokens and weaken financial oversight in the industry.<h2>Bitcoin’s impressive gains since Trump’s re-election</h2>Since US President Donald Trump was re-elected in November 2024, Bitcoin has experienced a remarkable 75 per cent surge, climbing from about $69,539 on Election Day to its current record level. The rise of Bitcoin coincides with Trump’s push for a more crypto-friendly regulatory environment. Under his administration, the cryptocurrency market has seen a wave of support, with Trump himself positioning himself as the “crypto president.” His administration has made efforts to ease regulations, provide clarity for digital asset companies, and promote the widespread adoption of crypto assets.Bitcoin’s resilience has been particularly notable in the face of geopolitical uncertainty. The cryptocurrency has managed to maintain its upward trajectory, even in times of heightened economic instability, including the global fallout from Trump’s unpredictable tariff policies. Bitcoin’s ability to rebound quickly from market disruptions and its ongoing correlation with riskier assets like tech stocks have made it an attractive investment during periods of volatility. As central banks around the world take increasingly accommodative fiscal measures, such as low interest rates and massive government spending, Bitcoin has become a safe haven for investors looking to hedge against potential inflationary pressures.One of the major factors behind Bitcoin’s recent rise is the declining value of the US dollar. As the dollar weakens against other currencies, Bitcoin has become a more appealing store of value, particularly for international investors looking for a hedge against the dollar’s decreasing purchasing power. The ongoing inflation concerns, coupled with the dollar's decline, have created an environment where Bitcoin is seen as a reliable alternative asset.As Bitcoin continues to break records, its rise highlights a broader trend in the financial landscape: the increasing acceptance and integration of digital assets into traditional financial markets. With Bitcoin now valued higher than companies like Amazon and closing in on Apple, it is becoming clear that the digital currency is no longer a fringe asset but a mainstream financial instrument in its own right.

This latest surge in Bitcoin’s price, up 27 per cent year-to-date, has sparked a ripple effect across the broader crypto market, with the total value of all cryptocurrencies now surpassing $3.8 trillion.

Bitcoin (BTC) surged to a record-breaking high of $123,153.22 on July 14, continuing its meteoric rise and propelling the broader cryptocurrency market into new territory. The world’s largest digital asset has now surpassed $120,000 for the first time, marking a significant milestone in a year that has already seen impressive gains for Bitcoin. As the cryptocurrency set a new record, other digital tokens followed suit, with Ether reaching a five-month high of $3,048.2, further fuelling excitement across the crypto sector. This latest surge in Bitcoin’s price, up 27 per cent year-to-date, has sparked a ripple effect across the broader crypto market, with the total value of all cryptocurrencies now surpassing $3.8 trillion, according to CoinMarketCap. Crypto stocks and exchange-traded funds (ETFs) have also seen impressive gains, with Coinbase’s shares up 1.8 per cent and crypto ETFs drawing strong investor interest. Investors are increasingly looking to digital assets as a hedge against inflation and currency devaluation, with Bitcoin remaining a top choice for institutional buyers and retail investors alike. What is fuelling the Bitcoin rally? Several key factors have contributed to Bitcoin’s recent surge. One of the most significant drivers is institutional buying, with companies like Strategy leading the charge. Strategy announced last week that it had acquired an additional 4,225 Bitcoin, bringing its total holdings to an eye-popping 601,550 Bitcoin. Such large institutional purchases contribute to a bullish sentiment in the market, driving prices higher as demand for Bitcoin continues to outpace supply. Another important catalyst for Bitcoin’s rally is the optimism surrounding the “Crypto Week” in the US. The week of July 14 has been dubbed Crypto Week by US Republicans, during which the US House of Representatives is set to debate and vote on three crucial pieces of cryptocurrency legislation. These bills, if passed, could provide much-needed regulatory clarity for the industry, reducing uncertainty that has often held back crypto companies and institutional investors from fully committing to the space. The most significant of these bills is the GENIUS Act, which aims to provide a regulatory framework for stablecoins and other digital assets, offering clear guidelines on their classification. The Clarity Act seeks to limit the ability of federal agencies to regulate cryptocurrencies through court rulings, ensuring that Congress, not the courts, defines how digital assets are governed. Finally, the Anti-CBDC Surveillance State Act is a bill designed to block the Federal Reserve from issuing a Central Bank Digital Currency (CBDC), arguing that such a move would enable the government to monitor citizens’ financial activities and infringe upon personal privacy. With these bills likely to provide a clearer path for crypto businesses to operate and attract institutional investment, investors are optimistic that the legislation will continue to support the current rally in Bitcoin and other cryptocurrencies. Crypto Week and what’s at stake for the industry The events of this week, dubbed Crypto Week, could prove pivotal in shaping the future of cryptocurrency in the US. The three proposed bills are expected to address several critical issues, including how digital assets are classified, the regulatory framework for stablecoins, and the potential dangers posed by central bank digital currencies. The passage of the GENIUS Act, which would clarify how digital assets like crypto tokens are classified, could be a game-changer for the industry. By providing clearer guidelines for startups and businesses, it would eliminate much of the legal uncertainty that has previously surrounded crypto projects, making it easier for companies to issue their own digital tokens and raise capital. In addition to the regulatory clarity provided by the GENIUS Act and Clarity Act, the Anti-CBDC Surveillance State Act would ensure that cryptocurrencies remain outside of the scope of government surveillance. With privacy concerns on the rise, especially around the potential for central bank digital currencies to track individuals’ financial transactions, this bill is seen as a vital safeguard for protecting users’ privacy in the crypto space. However, not all lawmakers are on board with the proposed legislation. Democrats, particularly those aligned with the Biden administration, have raised concerns that the bills would be too favourable to the crypto industry, potentially undermining securities laws and allowing for more volatility in the market. Critics argue that the bills could enable public officials, including Trump, to profit from crypto tokens and weaken financial oversight in the industry. Bitcoin’s impressive gains since Trump’s re-election Since US President Donald Trump was re-elected in November 2024, Bitcoin has experienced a remarkable 75 per cent surge, climbing from about $69,539 on Election Day to its current record level. The rise of Bitcoin coincides with Trump’s push for a more crypto-friendly regulatory environment. Under his administration, the cryptocurrency market has seen a wave of support, with Trump himself positioning himself as the “crypto president.” His administration has made efforts to ease regulations, provide clarity for digital asset companies, and promote the widespread adoption of crypto assets. Bitcoin’s resilience has been particularly notable in the face of geopolitical uncertainty. The cryptocurrency has managed to maintain its upward trajectory, even in times of heightened economic instability, including the global fallout from Trump’s unpredictable tariff policies. Bitcoin’s ability to rebound quickly from market disruptions and its ongoing correlation with riskier assets like tech stocks have made it an attractive investment during periods of volatility. As central banks around the world take increasingly accommodative fiscal measures, such as low interest rates and massive government spending, Bitcoin has become a safe haven for investors looking to hedge against potential inflationary pressures. One of the major factors behind Bitcoin’s recent rise is the declining value of the US dollar. As the dollar weakens against other currencies, Bitcoin has become a more appealing store of value, particularly for international investors looking for a hedge against the dollar’s decreasing purchasing power. The ongoing inflation concerns, coupled with the dollar's decline, have created an environment where Bitcoin is seen as a reliable alternative asset. As Bitcoin continues to break records, its rise highlights a broader trend in the financial landscape: the increasing acceptance and integration of digital assets into traditional financial markets. With Bitcoin now valued higher than companies like Amazon and closing in on Apple, it is becoming clear that the digital currency is no longer a fringe asset but a mainstream financial instrument in its own right.

This latest surge in Bitcoin’s price, up 27 per cent year-to-date, has sparked a ripple effect across the broader crypto market, with the total value of all cryptocurrencies now surpassing $3.8 trillion.

Bitcoin surges to record highs again, but why?

Bitcoin has surged to historic new heights, smashing through the $120,000 level for the first time ever, as traders across the world bet big on looming policy changes out of Washington. According to Reuters, Bitcoin touched a record of $122,571 on Monday before trading slightly below that peak. The move capped weeks of mounting optimism among investors who see the US finally moving to deliver clear regulatory rules for digital assets.&nbsp;Market watchers say the breakout isn’t just technical hype, but the result of a confluence of bullish drivers, from President Donald Trump’s vocal embrace of crypto to heavy institutional buying and growing demand from Asia.<h2>Betting on US clarity: Crypto Week begins</h2>Much of the enthusiasm centres on what’s happening this week in Washington. The US House of Representatives has declared it “Crypto Week”—a high-profile push to debate and potentially pass legislation that could define the future of the industry. According to Reuters, the legislative calendar includes several bills that crypto advocates have been lobbying for over years. Among the most anticipated is the so-called Genius Act, which would finally establish federal rules for stablecoins, a key requirement for integrating crypto with the traditional financial system.&nbsp;Other proposals on the table include the Clarity Act, aiming to set clearer guardrails for how tokens are classified, and the Anti-CBDC Surveillance State Act, which seeks to limit government overreach via central bank digital currencies. Bloomberg reports that crypto industry leaders see the week as a make-or-break moment: either US lawmakers deliver the regulatory certainty the sector craves, or risk seeing innovation move offshore.<h2>Trump’s role in the rally</h2>Bitcoin’s rally has also been powered by President Trump’s unexpected embrace of the sector. Having once called crypto a threat, Trump now brands himself the “crypto president” and has been urging Congress to deliver the legal framework the industry wants.&nbsp;Reuters quotes IG market analyst Tony Sycamore as saying Trump’s pro-crypto pivot is one of the “tailwinds” pushing Bitcoin higher, alongside strong institutional demand and positive momentum across global markets. “It’s been a very strong move over the past week,” Sycamore noted. “It’s hard to see where it stops now.”&nbsp;Meanwhile, Bloomberg highlights that Bitcoin’s resurgence coincides with a broader “risk-on” mood, with stocks also hitting record highs. This environment has helped Bitcoin reassert itself as not just a speculative punt but a potential hedge against broader economic uncertainty.<h2>Not just Bitcoin: crypto market booms</h2>The bullish sentiment isn’t limited to Bitcoin. Reuters reports that Ether, the world’s second-largest cryptocurrency, has climbed to over $3,050, its highest in more than five months. Other tokens like XRP and Solana also saw gains of around 3 per cent each. The entire crypto sector’s market value has swollen to roughly $3.81 trillion, according to CoinMarketCap data.&nbsp;In Asia, demand is also booming. Bloomberg reports that spot Bitcoin ETFs in Hong Kong, launched by China AMC and Bosera, hit record highs on Monday. Meanwhile, Ether ETFs in the city jumped more than 2 per cent, highlighting the global reach of this rally.<h2>A shift in perception</h2>What’s striking to many analysts is how Bitcoin’s image is evolving. Once dismissed as purely speculative, it is increasingly seen as a legitimate store of value, even by some institutional and sovereign players. As OKX’s Singapore CEO Gracie Lin told Reuters, “We’re seeing increasing participation from Asia-based family offices and wealth managers.” She added that this reflects a “structural shift” in how Bitcoin is perceived globally.&nbsp;Bloomberg also quotes George Mandres of XBTO Trading describing the move as a sign of Bitcoin’s maturation into a “macro hedge and a structurally scarce store of value,” boosted by significant flows into spot Bitcoin and Ethereum ETFs.<h2>Is this sustainable?</h2>Not everyone is convinced this rally is built to last. Bloomberg notes that some analysts see it as an “isolated event,” driven more by short-term positioning than deep fundamental changes. Yet even sceptics acknowledge that the combination of Trump’s backing, US policy momentum, and rising demand from Asia could sustain prices at elevated levels, at least for now.&nbsp;For Bitcoin, breaking $120,000 is undeniably a landmark. But as Crypto Week unfolds in Washington, the real test will be whether lawmakers can finally deliver the clear, investor-friendly framework that the industry says it needs to keep growing. &nbsp;

Trump crypto pivot and rising demand from Asia fuel Bitcoin record-breaking rally, with spot ETFs hitting highs in Hong Kong. Bitcoin breakout lifts entire crypto market to $3.81T, with Ether, Solana, and XRP gaining amid bullish sentiment and record ETF inflows.

Bitcoin has surged to historic new heights, smashing through the $120,000 level for the first time ever, as traders across the world bet big on looming policy changes out of Washington. According to Reuters, Bitcoin touched a record of $122,571 on Monday before trading slightly below that peak. The move capped weeks of mounting optimism among investors who see the US finally moving to deliver clear regulatory rules for digital assets. Market watchers say the breakout isn’t just technical hype, but the result of a confluence of bullish drivers, from President Donald Trump’s vocal embrace of crypto to heavy institutional buying and growing demand from Asia. Betting on US clarity: Crypto Week begins Much of the enthusiasm centres on what’s happening this week in Washington. The US House of Representatives has declared it “Crypto Week”—a high-profile push to debate and potentially pass legislation that could define the future of the industry. According to Reuters, the legislative calendar includes several bills that crypto advocates have been lobbying for over years. Among the most anticipated is the so-called Genius Act, which would finally establish federal rules for stablecoins, a key requirement for integrating crypto with the traditional financial system. Other proposals on the table include the Clarity Act, aiming to set clearer guardrails for how tokens are classified, and the Anti-CBDC Surveillance State Act, which seeks to limit government overreach via central bank digital currencies. Bloomberg reports that crypto industry leaders see the week as a make-or-break moment: either US lawmakers deliver the regulatory certainty the sector craves, or risk seeing innovation move offshore. Trump’s role in the rally Bitcoin’s rally has also been powered by President Trump’s unexpected embrace of the sector. Having once called crypto a threat, Trump now brands himself the “crypto president” and has been urging Congress to deliver the legal framework the industry wants. Reuters quotes IG market analyst Tony Sycamore as saying Trump’s pro-crypto pivot is one of the “tailwinds” pushing Bitcoin higher, alongside strong institutional demand and positive momentum across global markets. “It’s been a very strong move over the past week,” Sycamore noted. “It’s hard to see where it stops now.” Meanwhile, Bloomberg highlights that Bitcoin’s resurgence coincides with a broader “risk-on” mood, with stocks also hitting record highs. This environment has helped Bitcoin reassert itself as not just a speculative punt but a potential hedge against broader economic uncertainty. Not just Bitcoin: crypto market booms The bullish sentiment isn’t limited to Bitcoin. Reuters reports that Ether, the world’s second-largest cryptocurrency, has climbed to over $3,050, its highest in more than five months. Other tokens like XRP and Solana also saw gains of around 3 per cent each. The entire crypto sector’s market value has swollen to roughly $3.81 trillion, according to CoinMarketCap data. In Asia, demand is also booming. Bloomberg reports that spot Bitcoin ETFs in Hong Kong, launched by China AMC and Bosera, hit record highs on Monday. Meanwhile, Ether ETFs in the city jumped more than 2 per cent, highlighting the global reach of this rally. A shift in perception What’s striking to many analysts is how Bitcoin’s image is evolving. Once dismissed as purely speculative, it is increasingly seen as a legitimate store of value, even by some institutional and sovereign players. As OKX’s Singapore CEO Gracie Lin told Reuters, “We’re seeing increasing participation from Asia-based family offices and wealth managers.” She added that this reflects a “structural shift” in how Bitcoin is perceived globally. Bloomberg also quotes George Mandres of XBTO Trading describing the move as a sign of Bitcoin’s maturation into a “macro hedge and a structurally scarce store of value,” boosted by significant flows into spot Bitcoin and Ethereum ETFs. Is this sustainable? Not everyone is convinced this rally is built to last. Bloomberg notes that some analysts see it as an “isolated event,” driven more by short-term positioning than deep fundamental changes. Yet even sceptics acknowledge that the combination of Trump’s backing, US policy momentum, and rising demand from Asia could sustain prices at elevated levels, at least for now. For Bitcoin, breaking $120,000 is undeniably a landmark. But as Crypto Week unfolds in Washington, the real test will be whether lawmakers can finally deliver the clear, investor-friendly framework that the industry says it needs to keep growing.

Bitcoin hits a record high of $122,571 as investors rally behind US regulatory clarity, Trump’s crypto pivot, and booming global demand.

Bitcoin breaks $120,000 barrier as US launches ‘Crypto Week’

Crypto investors are gearing up for a pivotal week in Washington, with the US Congress poised to debate and potentially pass new rules for the digital asset sector, a policy shift that has already helped propel bitcoin to record highs. Bitcoin climbed 3.3 per cent on Friday to trade at $117,333.32, extending its gains for the year to 26 per cent. The rally was broad-based across the crypto market, boosting tokens such as ether, XRP, and solana, and driving strong inflows into crypto-linked exchange-traded funds.&nbsp;&nbsp;The total market value of cryptocurrencies has now swelled to around $3.67 trillion, according to CoinMarketCap data. As per Reuters, traders see this surge as a bet on what some are calling “crypto week” in Washington, an ambitious effort by lawmakers to give the industry long-sought regulatory clarity.<h2>A long-awaited policy framework</h2>Starting Monday, the US House of Representatives will debate a series of crypto-related bills, most notably the Genius Act and the Clarity Act. The most significant is the Genius Act, which would create the first comprehensive federal rules for stablecoins, cryptocurrencies designed to maintain a constant value, typically pegged 1:1 to the US dollar.&nbsp;Stablecoins are widely used by traders to move funds between tokens, and their use has soared in recent years. Supporters argue that clear rules will help legitimise stablecoins, making them more acceptable for banks, retailers, and consumers to use for payments.&nbsp;Under the proposed law, stablecoin issuers would have to back their tokens with liquid assets such as US dollars or short-term Treasury bills. They would also be required to publicly disclose the composition of their reserves every month. The Genius Act has already secured bipartisan support in the Senate, with several Democrats joining Republicans. It is expected to pass the House next week before going to US President Donald Trump, who has pledged to sign it into law.<h2>Expanding regulatory oversight</h2>The House is also set to consider the Clarity Act, which seeks to develop a broader regulatory framework for cryptocurrencies and expand the Commodity Futures Trading Commission’s (CFTC) oversight of the sector. The bill aims to settle a longstanding dispute over whether crypto tokens should be classified as securities (which would fall under the Securities and Exchange Commission’s remit) or commodities (regulated by the CFTC).&nbsp;Crypto companies have long argued most tokens should be treated as commodities, a stance that would make it easier for exchanges and platforms to list them. This debate intensified during the Biden administration, with industry players criticising what they saw as aggressive SEC enforcement. If passed in the House, the Clarity Act would head to the Senate, where it still requires approval before reaching Trump’s desk.<h2>Trump’s pro-crypto stance</h2>President Trump has embraced the crypto industry as part of his 2025 campaign messaging, calling himself the “crypto president” and promising to overhaul regulation to favour the sector.&nbsp;Trump himself has ties to several crypto ventures, including World Liberty Financial, a platform run by his sons Eric and Don Jr. This connection has drawn scrutiny from political opponents and ethics experts who warn of potential conflicts of interest. The White House has dismissed these concerns, stating that Trump’s assets are held in a trust managed by his children.<h2>Bullish momentum and sceptics’ warnings</h2>Industry players are watching “crypto week” with high hopes. Even if final passage of the bills stalls, analysts say the mere optics of bipartisan legislative engagement could support prices further. “Investors are racing to take positions ahead of the extra publicity this event could attract,” said Dan Coatsworth, investment analyst at AJ Bell, as quoted by Reuters.&nbsp;Bitcoin’s sharp rally has triggered buying interest across smaller tokens too. Ether was up over 5 per cent, while XRP jumped nearly 10 per cent on Friday. Yet not everyone is convinced the optimism is justified. Some analysts warn that the sector’s rapid integration with traditional finance could create new risks, and that the hype may be running ahead of real-world utility.&nbsp;“The regulatory backdrop has supported prices, and attention has turned to bitcoin’s role in portfolios, with some likening the crypto-asset to ‘digital gold.’ This moniker is likely premature,” said Dirk Willer, global head of macro strategy at Citi. Critics in Congress, such as Democratic Senator Elizabeth Warren, have also raised red flags, arguing the Republican-led effort risks handing the crypto lobby its entire wish list at the expense of consumer protection.<h2>What’s next?</h2>If the bills pass the House next week as expected, the Genius Act would move to President Trump’s desk for final approval, almost certainly becoming law given his support. The Clarity Act would still need to clear the Senate, where negotiations could prove more difficult. For now, crypto markets are cheering what they see as a historic moment: a chance to finally secure the clear, favourable regulatory framework the industry has demanded for years.&nbsp;As Washington prepares for a crucial vote, investors are watching closely to see if “crypto week” delivers on its promise and if the sector’s newly minted gains can hold.&nbsp;

Bitcoin hits record highs ahead of US House votes on the Genius and Clarity Acts, signaling long-awaited regulatory clarity as Trump backs crypto-friendly reforms and markets brace for a pivotal policy shift.

Crypto investors are gearing up for a pivotal week in Washington, with the US Congress poised to debate and potentially pass new rules for the digital asset sector, a policy shift that has already helped propel bitcoin to record highs. Bitcoin climbed 3.3 per cent on Friday to trade at $117,333.32, extending its gains for the year to 26 per cent. The rally was broad-based across the crypto market, boosting tokens such as ether, XRP, and solana, and driving strong inflows into crypto-linked exchange-traded funds. The total market value of cryptocurrencies has now swelled to around $3.67 trillion, according to CoinMarketCap data. As per Reuters, traders see this surge as a bet on what some are calling “crypto week” in Washington, an ambitious effort by lawmakers to give the industry long-sought regulatory clarity. A long-awaited policy framework Starting Monday, the US House of Representatives will debate a series of crypto-related bills, most notably the Genius Act and the Clarity Act. The most significant is the Genius Act, which would create the first comprehensive federal rules for stablecoins, cryptocurrencies designed to maintain a constant value, typically pegged 1:1 to the US dollar. Stablecoins are widely used by traders to move funds between tokens, and their use has soared in recent years. Supporters argue that clear rules will help legitimise stablecoins, making them more acceptable for banks, retailers, and consumers to use for payments. Under the proposed law, stablecoin issuers would have to back their tokens with liquid assets such as US dollars or short-term Treasury bills. They would also be required to publicly disclose the composition of their reserves every month. The Genius Act has already secured bipartisan support in the Senate, with several Democrats joining Republicans. It is expected to pass the House next week before going to US President Donald Trump, who has pledged to sign it into law. Expanding regulatory oversight The House is also set to consider the Clarity Act, which seeks to develop a broader regulatory framework for cryptocurrencies and expand the Commodity Futures Trading Commission’s (CFTC) oversight of the sector. The bill aims to settle a longstanding dispute over whether crypto tokens should be classified as securities (which would fall under the Securities and Exchange Commission’s remit) or commodities (regulated by the CFTC). Crypto companies have long argued most tokens should be treated as commodities, a stance that would make it easier for exchanges and platforms to list them. This debate intensified during the Biden administration, with industry players criticising what they saw as aggressive SEC enforcement. If passed in the House, the Clarity Act would head to the Senate, where it still requires approval before reaching Trump’s desk. Trump’s pro-crypto stance President Trump has embraced the crypto industry as part of his 2025 campaign messaging, calling himself the “crypto president” and promising to overhaul regulation to favour the sector. Trump himself has ties to several crypto ventures, including World Liberty Financial, a platform run by his sons Eric and Don Jr. This connection has drawn scrutiny from political opponents and ethics experts who warn of potential conflicts of interest. The White House has dismissed these concerns, stating that Trump’s assets are held in a trust managed by his children. Bullish momentum and sceptics’ warnings Industry players are watching “crypto week” with high hopes. Even if final passage of the bills stalls, analysts say the mere optics of bipartisan legislative engagement could support prices further. “Investors are racing to take positions ahead of the extra publicity this event could attract,” said Dan Coatsworth, investment analyst at AJ Bell, as quoted by Reuters. Bitcoin’s sharp rally has triggered buying interest across smaller tokens too. Ether was up over 5 per cent, while XRP jumped nearly 10 per cent on Friday. Yet not everyone is convinced the optimism is justified. Some analysts warn that the sector’s rapid integration with traditional finance could create new risks, and that the hype may be running ahead of real-world utility. “The regulatory backdrop has supported prices, and attention has turned to bitcoin’s role in portfolios, with some likening the crypto-asset to ‘digital gold.’ This moniker is likely premature,” said Dirk Willer, global head of macro strategy at Citi. Critics in Congress, such as Democratic Senator Elizabeth Warren, have also raised red flags, arguing the Republican-led effort risks handing the crypto lobby its entire wish list at the expense of consumer protection. What’s next? If the bills pass the House next week as expected, the Genius Act would move to President Trump’s desk for final approval, almost certainly becoming law given his support. The Clarity Act would still need to clear the Senate, where negotiations could prove more difficult. For now, crypto markets are cheering what they see as a historic moment: a chance to finally secure the clear, favourable regulatory framework the industry has demanded for years. As Washington prepares for a crucial vote, investors are watching closely to see if “crypto week” delivers on its promise and if the sector’s newly minted gains can hold.

Crypto markets rally as US Congress prepares for ‘crypto week,’ with key bills poised to reshape regulation and boost investor confidence.

Bitcoin hits record as US Congress prepares for major crypto policy push

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