The biggest event in the cryptocurrency market from July 14 to July 20 was the 'Cryptocurrency Week', organized by the U.S. House of Representatives. The event has officially concluded, with the Senate approving three bills, one of which, the GENIUS Act, was enacted with the signature of U.S. President Donald Trump.
This resulted in Bitcoin's price reaching a new all-time high of $123,000, as investor sentiment turned bullish and whale activity peaked. The rest of the altcoins surged, fueling enthusiasm around altcoin season and more.
Recently, the cryptocurrency market capitalization reached $4 trillion, a significant milestone for investors. With the rise of Bitcoin, Ethereum, Solana, and other cryptocurrencies, the market flourished. Notably, cryptocurrency ETFs also felt the impact, with $2.39 billion flowing into BTC funds and $1.8 billion into ETH.
The ProShares XRP ETF, which offers daily exposure to double-leveraged XRP, was also launched on July 18. Over $1.5 billion in tokens were unlocked, dominated by 90 million TRUMP tokens, and much more. Overall, the market remained very favorable for investors this week. However, consolidation also followed the spike on July 19, but remained relatively stable.
