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.