#XXX ### Bitcoin Market Briefing (July 20, 2025)

**Current Price**: Bitcoin is at **$118,000**, a slight increase of 0.28% over the last 24 hours, but down about 4% from the historical high of $123,000 on July 14.

**Regulatory Dynamics**: Trump signed the "Genius Act" establishing a regulatory framework for stablecoins, requiring a 1:1 dollar reserve and prohibiting central bank digital currencies. This led to a short-term "profit-taking" sell-off in the market, causing nearly 140,000 people to liquidate over $400 million.

**Technical Trends**: If the 20-day moving average (at $113,500) holds, it may push towards $135,000; however, if it breaks below the support at $117,500, it could trigger large-scale long liquidations.

**Market Sentiment**: Fear and Greed Index at 37 (Fear Zone), institutions are optimistic about futures premiums, but JPMorgan warns that the bullish sentiment is already priced in, and caution is needed regarding stock market correlation risks.

> 💎 **Key Note**: Short-term volatility is dominated by policy implementation and technical gameplays. It is advisable to watch for rebound opportunities in competitive coins like ETH and signals from the Federal Reserve.