Crypto Market Highlights – July 12

1. Bitcoin hits new ATH at \$118K

Fueled by strong ETF inflows, bullish sentiment, and a weak USD. Trading volumes are surging across the board.

2. BTC joins top 10 global currencies

Bitcoin now surpasses the Brazilian Real by market cap — a major milestone for a decentralized asset.

3. MEXC under fire

Multiple users report account freezes & withdrawal blocks (30–365 days) after profitable trades. Reason cited: "abnormal activity."

4. $1.1B liquidated in 24H

Mainly short sellers as BTC’s rally triggered a massive short squeeze. BTC & ETH lead the wipeout.

5. ETH futures flip BTC

Ethereum futures volume (\$62.1B) surpasses Bitcoin (\$61.7B) for the first time — eyes now on ETH momentum.

6. Big short on ETH

A whale opened a \$3.74M short (15x leverage) on HyperLiquid — betting on ETH downside.

7. Tether ends USDT on 5 blockchains

Support removed from Omni, EOS, Algorand, BCH-SLP & Kusama due to low activity.

8. Jerome Powell resignation rumors

Reports suggest Fed Chair Powell may resign under political pressure. No official confirmation yet.

Stay sharp, fam. Markets are moving fast.