$BTC sets a new peak at $118K🔥🔥🔥🔥
Bitcoin has just set a new all-time high, surpassing the $118,000 mark – the highest price so far this year, increasing about 26% in 2025, mainly thanks to the influx of capital into cryptocurrency ETFs and significant short squeeze pressure.
Summary of news
* BJMining has just launched a cloud mining contract supporting $XRP , aiming to capitalize on the increasing demand for XRP amid market volatility.
* Large investment funds are applying the 'Bitcoin playbook' to invest in Ethereum – particularly companies like BitMine Immersion are shifting their focus to ETH and attracting new capital.
* Next week (starting July 14), the U.S. Congress will convene on proposals such as the GENIUS Act, legislation clarifying stablecoins, SEC/CFTC regulations, and CBDCs – considered Crypto Week.
* SharpLink Gaming has acquired 10,000 $ETH from the Ethereum Foundation at an average price of $2,572/ETH.
• Tesla currently has an unrealized profit of over $756M from its investment in Bitcoin.
• The hacker from the GMX exploit has returned all the stolen funds, receiving a 10% bounty reward.
• The Shanghai regulatory agency is reviewing policies related to stablecoins and crypto – a significant shift in digital financial regulation.
• Tether will cease support for USD₮ on older chains including: Omni, Bitcoin Cash SLP, Kusama, EOS, and Algorand starting from September 1, 2025, as part of a strategic infrastructure review.
📈 Overview & Forecast
* Investment flows into Bitcoin ETFs continue to remain strong, paving the way up to $125K – $140K if the trend remains unchanged.
• The total market capitalization of crypto has increased by about $300 billion over the past week, opening positive prospects for both Bitcoin and altcoins by the end of the week.
