The cryptocurrency market remains dominated by bulls, elevating the market capitalization to the impressive figure of $3.82 trillion. Moreover, the fear and greed index stands at 64, indicating that the market is driven by greed. Additionally, digital assets are in the green, indicating a continued upward trend.
Regarding Bitcoin, it closed around $117.4 thousand on July 21 (the start of the week) and is currently at $118,000, representing a gain of just 0.5% during the week. However, there were also some spikes between July 22 and 23, where the price of BTC reached $120.2 thousand before falling below $115,000 on July 25.
In the case of Ethereum, it experienced a 9% upward trend during the week, with its price rising from $3,550 to $3,850. However, the net gain is only 5% due to the previous drop, and it is currently at $3,773. Interestingly, it reached a 7-month high of $3,850 on July 21, thanks to the continuous inflows of U.S. spot Ethereum ETFs and growing institutional interest.
XRP followed a significant upward trend the previous week, rising from $2.96 to $3.45. However, this week it has suffered a net drop of 6.7%, currently trading at $3.18. It is worth noting that it also reached a high of $3.53 before that, with a 45% increase during the month, which stabilized over time.
Interestingly, the week remains a resounding success among investors, as it marked new highs for many cryptocurrencies and also presented entry points after the market drop. Numerous critical events occurred, such as Galaxy Digital's Bitcoin liquidation, Trump's visit to the Fed, the start of the war between Thailand and Cambodia, among others, which affected the financial markets in general.
