Binance Records Bitcoin’s Historic $118K Peak Amid Divergent Currency Performance
Bitcoin has achieved a groundbreaking milestone by reaching an all-time high of $118,400 against the US dollar, as recorded on Binance. This surge, marking a 5.7% increase since late last week, underscores the cryptocurrency's continued bullish momentum in 2025. However, the celebration is tempered by its underperformance in euro and pound terms, where it remains shy of previous peaks. This divergence highlights the complex interplay between cryptocurrency valuations and global currency dynamics.
Bitcoin Hits New USD All-Time High but Lags in Euro and Pound Terms
Bitcoin surged to a record $118,400 against the US dollar this week, extending its 2025 bull run. The rally marks a 5.7% spike since late Thursday, with Binance recording a $115,244 daily close on July 10—well above March's previous peak.
Currency dynamics tell a divergent story. Despite dollar-denominated gains, BTC failed to eclipse prior highs in euros (€95,720, still 1.8% below March) or pounds (£82,148, narrowly missing April's record). A strengthening euro (+2.6% monthly) and resilient pound (+0.3%) diluted nominal returns for European investors.
The disparity stems from shifting forex tides. The DXY dollar index fell 1.5% over 30 days as softening US rate expectations pressured the greenback. Bitcoin's performance now hinges on which side of the Atlantic you measure it.
India’s FIU Probes Binance and WazirX Over Suspicious Crypto Transactions
India’s Financial Intelligence Unit (FIU) has launched an investigation into Binance and WazirX following reports of suspicious cryptocurrency transactions linked to Pakistan. Authorities are scrutinizing wallet transfers that may be connected to illegal activities, including potential terror financing in Jammu & Kashmir.
The probe focuses on cross-border crypto flows, particularly those involving private wallets not tied to any exchange. This opacity complicates tracing efforts, raising concerns about illicit financial networks. Binance and WazirX—both major conduits for international crypto transfers—are now under heightened regulatory scrutiny.
Recent intelligence suggests a surge in crypto transactions along the India-Pakistan border regions. The FIU is currently analyzing blockchain data from Binance to identify potentially compromised accounts. The investigation follows a 72-page court affidavit alleging WazirX wallet involvement in terror financing.
Bitcoin Price Reaches Pivotal Moment—Is $120K Next?
Bitcoin surged past $118,000 with 6.2% daily gains Friday morning, marking a new all-time high with over $81 billion in trading volume. The rally is driven by institutional confidence rather than retail traders, bringing long-term credibility to the crypto space.
Exchange flows hit a three-year low at $2.39 million, while analysts predict Bitcoin could reach $120,000 by month-end. Kushal Manupati, Binance's regional growth and operations lead in South Asia, noted the significance of institutional participation: "Institutions are showing confidence to enter the space at scale, bringing not just liquidity but long-term credibility."
Bhutan Transfers $23.7M in Bitcoin to Binance Amid Market Rally
The Royal Government of Bhutan has moved 213.5 BTC, worth $23.7 million, to Binance as bitcoin trades near all-time highs. The transaction, executed on July 10, follows a previous transfer of 137 BTC ($14.8 million) to the same exchange. Over ten days, Bhutan shifted 350.7 BTC ($38.5 million), signaling a strategic treasury maneuver.
Bitcoin's price surge to $112,000 underscores Bhutan's proactive management of crypto assets. The Himalayan kingdom appears to be treating Bitcoin as a Core component of national economic planning, mirroring institutional portfolio strategies.
Fact Check: Did Tom Lee Say “XRP Could Create Millionaires in the Next 90 Days”?
A viral claim attributing a bold XRP price prediction to Wall Street strategist Tom Lee has been debunked as misinformation. The statement, suggesting XRP could "create millionaires in the next 90 days," lacks any verified source or official record.
Binance's fact-checking team confirmed the quote is fabricated. While Lee is known for his bullish stance on crypto assets, no interviews, articles, or videos substantiate this specific claim about XRP. The false narrative appears to have resurfaced after first circulating four months ago.
Market participants should exercise caution with unverified social media hype, particularly around altcoins like XRP. The cryptocurrency community remains vulnerable to pump-and-dump schemes fueled by fabricated endorsements from prominent figures.
Binance BNB Token Surges Past $700 Amid Supply Burns and Network Upgrades
BNB, the native token of Binance, has broken through the $700 barrier after months of sideways movement. The rally follows Binance's 32nd quarterly token burn, which removed 1.59 million BNB—worth over $1 billion—from circulation. This systematic reduction aims to eventually cap total supply at 100 million tokens.
Whale accumulation has provided steady support between $670-$700, creating a foundation for new highs. The Maxwell network upgrade has further bolstered sentiment by enhancing transaction speeds and user activity on BNB Smart Chain.
With 265,000 BNB permanently destroyed to date, the token's scarcity premium continues growing. Market participants now speculate whether this momentum can sustain through 2025.
