Bitcoin Surpasses $120,000, Ethereum Hits $3,900
The market was dominated by institutional inflows and positive macroeconomic shifts, driving gains in major cryptocurrencies. Bitcoin reached new all-time highs, briefly surpassing $120,000, while Ethereum stabilized near $3,900 amid ETF hype and strong capital inflows.
Global Institutional Crypto Investments Hit Historic Record
Weekly inflows into crypto funds reached a record $4.39 billion. Ethereum saw particularly strong demand ($2.12 billion), signaling a shift in focus from Bitcoin to altcoins.
Regulatory Shift in the U.S.: GENIUS Act Passed
Donald Trump signed the first-ever federal stablecoin law (GENIUS Act), mandating 1:1 reserves, regular audits, and increased transparency. This move catalyzed institutional interest and strengthened the legitimacy of digital assets.
Banks & Exchanges: Strategic Alliances
PNC Bank, the seventh-largest U.S. bank, officially announced a partnership with Coinbase, granting institutional clients direct crypto access via the bank’s platform. This aligns with the strengthening U.S. regulatory framework.
Capital Rotation into Altcoins
Investors actively shifted funds from Bitcoin into altcoins. Ethereum, Solana, BNB, and Cardano, along with mid- and small-cap tokens (e.g., Hyperliquid, Sui, Pepe), outperformed. Solana rose nearly 9%, while Avalanche and Cardano each gained over 15%.
Tech Upgrades
Key network updates occurred on Hedera (HBAR) and Root Network, focusing on scaling and NFT infrastructure support.
Market Sentiment
- Optimism from Growth: Investors responded enthusiastically to rising institutional demand and new financial products (ETFs, bank-based crypto services).
- Profit-Taking & Fear: Sharp rallies led to increased profit-taking, especially in Bitcoin and major altcoins, but corrections remained limited due to strong fundamentals.
Tech & Partnership News
- New Alliances: Ripple partnered with Ctrl Alt (UAE) on custody solutions and asset tokenization, while Tether, MoonPay, and Bitget announced new global initiatives.
- Stablecoin Integration: USDG gained support from major European exchanges and banks.
Key Takeaways
- The crypto industry has entered a new phase: markets are becoming institutionalized, with the U.S. solidifying its regulatory leadership.
- Altcoins and DeFi are back in focus, with Ethereum and Solana leading the charge.
- While optimism prevails, risk management is crucial after rapid price surges.