1. Bitcoin reaches an all-time high

Price breakthrough: On July 14, 2025, Bitcoin first broke through the $123,000 mark, reaching a peak of $123,226, with an annual increase of over 108%.

Driving Factors

Policy dividend expectations: The U.S. House of Representatives will review multiple cryptocurrency regulatory bills this week, including the CLARITY Act and the GENIUS stablecoin framework, injecting confidence into the market.

Institutional funds are pouring in: The U.S. Bitcoin ETF had a net inflow of $2.7 billion in a single week (the fifth highest in history), with total assets under management reaching $151 billion.

📊 2. Overall Market Performance

Mainstream Currencies

Currency Current Price 7-Day Change Key Dynamics

Bitcoin (BTC) $122,199 +9.69% Dominance 64.45% (weekly decrease of 1.54%)

Ethereum (ETH) $3,062 +8.94% Futures trading volume $62.1 billion (first time surpassing Bitcoin)

Solana (SOL) $162.91 +1.3% supported by expectations of technological upgrades

Dogecoin (DOGE) $0.1682 +2.5% Retail interest rebounding

Note: The weekly volatility of SOL and DOGE was affected by short-term corrections, but the monthly trend remains upward.

Altcoins and Meme Coins

Widespread rally: Over 90% of the top 100 altcoins rose, such as MemeCore (+677%) and Pudgy Penguins (+93%).

Capital rotation signal: Bitcoin's dominance is decreasing as funds shift towards higher-risk assets (e.g., trading volume on Solana and Base chain DEX increased by 29.3% weekly).

🌐 3. Regulatory and Macroeconomic Impacts

U.S. policy progress: The Republican Party promotes a pro-cryptocurrency agenda, with the Trump administration supporting Bitcoin as a reserve asset, encouraging corporate holdings (e.g., publicly listed Murano Global purchased 21 BTC).

Global risk events

Trump's tariff threats (July 8) triggered a brief market correction, with the cryptocurrency market cap dropping by 3.8% in a single day.

- Dubai approved the first tokenized currency fund (QCDT), accelerating the integration of traditional finance and cryptocurrency.

💎 4. Industry Trends and Emerging Tracks

Real Asset Tokenization (RWA)

Ondo Finance's market cap surpassed $2.4 billion, with over $1 billion locked, dominating the Solana chain's RWA market (42% share).

NFT market recovery

Sales exceeded a months-long downward trend, with Bitcoin Ordinals series trading volume ranking in the top five.

Infrastructure innovation

BlockDAG testnet users surpassed 2 million, raising $339 million; Solana's upgrade SMID-0228 addresses inflation issues.

🔮 5. Market Outlook

Short-term: If U.S. regulatory bills pass, Bitcoin could surge to $130,000; indications of an altcoin season are emerging, with ETH and SOL likely to follow suit.

Risk Warning

Rising leverage (unsettled Bitcoin futures contracts reached $86.3 billion) may exacerbate volatility.

Geopolitical conflicts (e.g., trade wars) remain potential headwinds.

💎 The market has entered a strong cycle driven by institutional funds, favorable policies, and technological innovation, but high leverage and macro risks must be monitored. Pay attention to the progress of the ETH spot ETF, Solana's technological upgrades, and the explosive potential of the RWA track (e.g., Ondo).