Cryptocurrency Market Capitalization Surpasses $4 Trillion: Can $5 Billion in Bitcoin Options Spark Another Increase?

Around 41,500 Bitcoin options contracts, with a notional value of approximately $5 billion, are set to expire on Friday, July 18. Despite this being larger than the previous week's expiry, it's unlikely to influence the solidly performing spot markets. Simultaneously, the crypto market continues to rally, with the total capitalization reaching a new high of over $4 trillion, primarily driven by Bitcoin, Ethereum, and XRP.

Bitcoin has almost erased its weekly losses, returning to $120,700, while Ethereum has seen an 8% daily gain, reaching $3,600, its highest since early January. XRP also reached a new all-time high of $3.64 after a significant 20% surge. This market momentum comes as the US House passes the GENIUS and CLARITY Acts, boosting markets.