Recently, there have been several far-reaching events in the cryptocurrency world!

1. Bitcoin's price fluctuated sharply, breaking through $123,000 before a pullback

On July 15, Bitcoin's price historically broke through $123,000, reaching a new all-time high, with an increase of over 70% in three months. This surge was mainly driven by the halving cycle effect, increased institutional holdings (such as MicroStrategy's continuous accumulation), and favorable policy support.

However, on July 16, the market suddenly reversed, with Bitcoin's price dropping over 5% in one day, falling back to $116,300, leading to over 130,000 liquidations across the network, totaling $493 million.

Analysts believe that this pullback is related to internal disagreements within the Republican Party regarding the cryptocurrency legislation, as 13 Republican lawmakers opposed the bill supported by Trump during a procedural vote, raising market concerns about regulatory uncertainty.

Subsequently, after the signing of the 'Genius Act' on July 18, Bitcoin's price quickly rebounded to above $120,000, but on July 19, it experienced another technical adjustment, with the price falling back to around $117,000, a 24-hour drop of 1.85%. The market is currently in a stage of game between the realization of favorable policies and profit-taking pressure, which may exacerbate short-term volatility.

2. The Ethereum ecosystem remains active, with corporate accumulation and technological upgrades resonating

Ethereum performed strongly in July, with the price breaking through $3,600 on July 18, approaching this year's high.

This surge is closely related to the Pectra upgrade launched on May 7, which introduced core features such as account abstraction (EIP-7702), optimized validator experience (staking cap increased to 2048 ETH), and Layer 2 scaling (Blob throughput doubled), significantly enhancing network performance and developer friendliness.

Meanwhile, global companies are accelerating their accumulation of Ethereum. As of July, over 85 listed companies hold approximately 1.6 million ETH, accounting for 1.9% of the total circulating supply.

Among them, BitMine, with a holding of 300,700 ETH, has become the world's largest ETH reserve listed company, and companies like SharpLink Gaming and Bit Digital have also significantly increased their holdings through financing. This trend reflects institutional recognition of Ethereum as a 'digital reserve asset' and the attractiveness of staking rewards (annualized about 3-5%).

In addition, the Ethereum Foundation announced that it will hold a celebration for the 10th anniversary of the genesis block on July 30, with the global community organizing offline gatherings and on-chain activities, further boosting market sentiment. #Strategy增持比特币