,3 min
SwapSpace Weekly Recap: GENIUS Act, $4T milestone, and market moves
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SwapSpace Weekly Recap: BTC and ETH rally continues
The crypto market experienced a lively week, as Bitcoin reached a historic all-time high above $120,000, fueled by growing institutional interest and promising regulatory developments in Washington during the so-called “Crypto Week.” Meanwhile, Ethereum and several altcoins also saw notable gains amid heightened market activity. Read Swapspace's weekly recap to learn more.
Last week's highlights
- Bitcoin climbs to new all-time highs ($120,000+)
On July 14, Bitcoin surged past $120,000 for the first time, briefly touching $122,884, driven by renewed investor optimism and institutional demand. This milestone boosted Bitcoin’s market capitalization to over $2.4 trillion, putting it ahead of Amazon as one of the most valuable companies globally.
- Crypto Week legislative push in Washington
The US House of Representatives kicked off Crypto Week, focusing on three crucial bills aimed at clarifying crypto regulations: the GENIUS Act (stablecoin regulations), Digital Asset Market Clarity Act (defining crypto as securities or commodities), and Anti-CBDC Surveillance State Act (banning a Fed-issued digital dollar). These measures are expected to provide a clearer legal framework, attracting further institutional investments.
- Ethereum nears $3,900 on positive sentiment
Ethereum rose steadily throughout the week, reaching a five-month high of about $3,815. This gain was thanks to favorable regulatory expectations, increasing institutional demand, and macroeconomic factors like geopolitical tensions and a weaker US dollar.
- Token unlocks bring volatility risks
Between July 15 and 18, more than $1.1 billion worth of crypto tokens from projects such as TRUMP, ARB, SEI, and CONX became tradable. These unlocks increased market volatility risks as some holders might sell immediately, impacting short-term prices.
Last week’s stats
Top gainers
Top losers
Key pairs
What to watch this week?
- Potential legislative progress or amendments
The fate of the three major crypto bills remains under close watch, as Democratic lawmakers contemplate amendments. Market participants should monitor approval outcomes or delays impacting regulatory clarity.
- Bitcoin price action and retail demand signals
Experts expect Bitcoin to consolidate around current levels but don’t rule out new July highs if retail and institutional demand keeps rising. Coinbase's app store rankings suggest modest retail interest increase, but broader adoption is still debated.
- Impact of token unlock aftermath
The market will be closely observing whether unlocked tokens trigger wider sell-offs or if buyers absorb the supply, potentially stabilizing prices after a turbulent week.
The past week has been a pivotal one for cryptocurrencies, featuring record market performance, potential regulatory shifts, and fluctuations in token supply. Whether you're new to trading or looking to deepen your expertise, the SwapSpace Academy provides an opportunity to build your knowledge from the ground up or enhance your understanding of the complex crypto landscape.
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