\n\t\t\t\t\t\t\t\t\tSOL is among the top performers over the past week, alongside ZEC, RAIN, XMR, and a few others. HYPE charted a new ATH. \t\t\t\t\t\t\t\t<\/p>\n<\/p><\/div>\n
Bitcoin did something we hadn\u2019t seen in over three months in the past few days. But before we get there, let\u2019s take a quick look at what happened last week and how we arrived at this major bullish intersection.<\/p>\n
Recall that BTC and the rest of the market were essentially stagnant for weeks (and months) until last Wednesday, when one announcement<\/a> sent them all flying. Bitcoin soared from under $65,000 to almost $80,000 that Friday. After gaining $15,000 in 48 hours, the asset was due for a correction, which took place over the weekend when it dipped<\/a> to $75,500.<\/p>\n However, the bulls were more persistent. They returned at the start of the new business week and helped bitcoin recover the losses. Moreover, they pushed<\/a> it above $80,000 on Tuesday morning for the first time since mid-May. Another leg down followed that dragged the cryptocurrency to just under $78,000 before the landscape changed once again.<\/p>\n Bitcoin quickly reclaimed the coveted $80,000 level and aimed higher. This time, it jumped past $81,000 and touched $81,500 on most exchanges to mark a new 15-month peak. Nevertheless, sellers returned at this point, and the asset slipped to $78,500 minutes ago after the hawkish speech by the new Fed Chair Kevin Warsh at Jackson Hole.<\/p>\n It has managed to rebound and currently sits above $79,000, posting a notable 2.5% weekly increase. However, many alts, such as SOL, ZEC, RAIN, XMR, PUMP, and AAVE, have marked massive double-digit gains. Solana\u2019s token surged past $100 for the first time since late January. In contrast, ADA, XLM, and BCH are down by up to 5% weekly.<\/p>\n Market Cap: $2.870T | 24H Vol: $93B | BTC Dominance: 57.5%<\/p>\n BTC: $79,380 (+2.5%) | ETH: $2,510 (+4.7%) | XRP: $1.42 (+0.01%)<\/p>\n Why Did Bitcoin Explode Past $81K? 4 Macro Factors Behind the Rally<\/strong>. As mentioned above, BTC surged past $81,000 on a couple of occasions in the past week, even though each attempt was halted. Some of the reasons behind this major rally come<\/a> from outside the industry and are more macro-related, such as the US Treasury Department\u2019s announcement, rising US debt, and a weakening dollar.<\/p>\n Ripple (XRP) Makes Major Wall Street Push With New Institutional Trading Business<\/strong>. The company behind XRP announced another Wall Street move by launching<\/a> a new institutional trading business with Ripple Prime. It will allow hedge funds, asset managers, and other institutional clients to execute Total Return Swaps across US-listed equities, indices, and cryptocurrencies.<\/p>\n Revolut Launches First Euro Stablecoin EURR: Here\u2019s Where It\u2019s Available<\/strong>. Revolut launched<\/a> its first euro-denominated stablecoin to select customers in a few European countries, including Denmark, Poland, and Portugal, with a broader EEA rollout planned. Issued by Bridge, the new asset called EURR operates under the EU\u2019s MiCA framework, redeemable at \u20ac1.00 per token.<\/p>\n Circle Puts USDC on the Front of Chelsea\u2019s Shirts in Principal Partnership<\/strong>. In a major partnership announced<\/a> earlier today, Circle said it will feature USDC branding on Chelsea FC\u2019s shirts starting the 2026\/2027 season. The deal includes branding on men\u2019s, women\u2019s, and Academy kits, with Chelsea reportedly aiming for over $60 million annually.<\/p>\n Strategy Adds $1.9B to USD Reserve but Buys No Bitcoin as BTC Position Turns Green<\/strong>. The largest corporate holder of BTC continues rebuilding its USD reserve, adding<\/a> in total another $1.9 billion in the past week. At the same time, Strategy has not made a single bitcoin purchase for roughly two months, even though its position turned green<\/a> after the latest rally.<\/p>\n Arthur Hayes Predicts More Dollar Liquidity that Could Push Bitcoin\u2019s Rally Further<\/strong>. The BitMEX co-founder has turned bullish once again, indicating<\/a> that BTC has entered a new bull market as liquidity injections from US Treasury Secretary Scott Bessent are anticipated to support risk assets. Meanwhile, another popular market observer said<\/a> BTC\u2019s next rally could send ETH flying all the way up to $20,000.<\/p>\n This week, we have a chart analysis of Ethereum, Ripple, Cardano, Binance Coin, and Hyperliquid \u2013\u00a0click here for the complete price analysis<\/a>.<\/p>\nMarket Data<\/h2>\n
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