The following are the main news updates in the cryptocurrency field as of the end of July 2025, summarized across key dimensions including market, regulation, technology, and institutional trends:

I. Market trends and fluctuations

1. Bitcoin and Ethereum divergence intensifies

- Bitcoin reaches an all-time high of $118,780, but institutional funds saw a net outflow in July (-$175 million), maintaining a market share of 51.2%.

- Ethereum performs remarkably, surging 60% to 67% in July, with prices breaking through $3,860. Institutions heavily buy through ETFs, with BlackRock and others holding 5.03 million ETH (accounting for 4.32% of total), driving the recovery of the DeFi and NFT markets.

2. Altcoins experience severe fluctuations

- XRP surges 18% in one day: stimulated by the passage of three major US crypto bills, price breaks through $3.60 USDT (new high since 2018), with market expectations for spot ETFs rising.

- Overall pullback risk: on July 23-24, the entire network saw liquidations of $956 million, with 85% being long positions. Tokens like PUMP and SUI saw daily declines of over 15%, while low liquidity tokens (like MANTRA Chain) faced selling pressure due to high FDV (fully diluted valuation).

II. Major breakthroughs in regulatory policies

1. Three key US bills enacted

- (CLARITY Act): clarifies the criteria for determining whether a token is a 'security/commodity', with decentralized assets under CFTC regulation, benefiting XRP, ETH, and others.

- (GENIUS Act): stablecoins included in federal regulation, requiring 100% reserves, establishing the status of 'payment tools', driving USDT and USDC trading volumes to new highs.

- (Anti-CBDC Monitoring Act): restricts the Federal Reserve from launching a digital dollar without authorization, reinforcing the position of private crypto assets.

2. Global compliance process accelerates

- Under the EU MiCA framework, XBIT exchange receives pre-certification, connecting with law enforcement agencies through the 'regulatory API gateway', improving suspicious asset freezing efficiency by 90%.

- UK's FCA introduces new stablecoin regulations, Japan's central bank maintains negative interest rate policy, and regulatory cooperation among multiple countries strengthens.

III. Changes in institutional behavior and market structure

1. Whale and institutional movements

- Satoshi era whales sold 80,000 BTC (worth $9 billion) through Galaxy Digital, with no significant market fluctuations observed, indicating improved liquidity depth.

- Bitget exchange reserve ratio exceeds 200% (industry average is 100%), user BTC holdings increase by 45% month-on-month, highlighting the trend of transparent custody.

2. Large-scale institutional capital inflow

- In July, institutional crypto product inflows reached $11.2 billion, with the Ethereum ETF leading at $3.57 billion, followed by Solana ($311 million) and XRP ($189 million).

- Bitcoin demand remains strong: institutional purchases exceed daily mining supply growth by 600%, with hedge fund Strategy Inc. buying $472 million in one transaction.

IV. Security and technological innovation

1. DEX security mechanism upgrades

- XBIT exchange launches three major innovations:

- AI dynamic circuit breaker: automatically reduces leverage when BTC volatility exceeds 5%, lowering the liquidation rate from 45% to 28%;

- KYC masking verification: reduces information leakage risk by 76%;

- Distributed cold storage: 95% of user assets are stored offline, successfully resisting hacker attacks.

2. Progress in cross-chain and scalability

- XBIT plans to launch 'Cross-Chain Aggregation Protocol 2.0' in Q3, supporting seamless trading of inter-chain assets such as Solana and Aptos.

- Ethereum Layer 2 transaction costs drop to 1/8 of traditional DEX, leveraging ZK-Rollups technology.

V. New trends in stablecoins and DeFi

1. Surge in demand for stablecoins as a safe haven

- Federal Reserve interest rate cut expectations rise (68% probability in September), stablecoin on-chain trading volume increases by 34% month-on-month. XBIT platform's daily stablecoin trading volume exceeds $63.2 million, reaching a three-month high.

- Ripple issues compliant stablecoin RLUSD, entering pilot programs in US and Japanese banking systems, with XRP becoming a hub in the payment ecosystem.

2. DeFi risks and opportunities coexist

- Ethereum staking unlockable amount reaches 519,000 ETH, posing short-term selling pressure risks.

- Low liquidity token predicament: $155 billion in tokens will be unlocked from 2024 to 2030, with XBIT suppressing market manipulation through 'emotional circuit breakers'.

Summary: The market is at a critical turning point

- Regulatory clarity: US and EU policy framework implemented, promoting compliant stablecoins and institutional entry.

- Institutional-led market: Ethereum ETF and large whale sell-offs smoothly absorbed, indicating increased market maturity.

- Retail strategy adjustment: high leverage risk exposure (e.g., PUMP private placement loss of $6 million), attention needed on stablecoin allocation and DEX security tools during the interest rate reduction cycle.

> The next phase of the market direction will depend on the September Federal Reserve interest rate decision and whether ETH can break through the critical resistance level of $4,000. Ordinary investors are advised to avoid chasing highs and use compliant platforms (such as XBIT, Bitget) to manage risks.$BTC $ETH $BNB