🚀 Bitcoin Smashes $120K Barrier: New ATH Ignites Crypto Frenzy Ahead of Bull Week

Digital gold just got heavier—Bitcoin's relentless rally carves a fresh peak at $120K as institutional FOMO goes into overdrive.

### The Domino Effect: How One ATH Resets the Entire Market

Miners are stacking sats, traders are liquidating weak hands, and Wall Street's latecomers are suddenly 'blockchain experts'—classic bull market behavior. Meanwhile, Ethereum and altcoins ride the coattails of BTC's gravity-defying act.

### The Cynic's Corner

Banks now scrambling to offer BTC ETFs after years of calling it a scam? How… predictable. The real volatility isn't in the charts—it's in traditional finance's flip-flopping narratives.

This isn't just a price spike—it's a full-system stress test for the legacy financial ecosystem. Buckle up.

Over $276M Liquidated as Bitcoin Rally Catches Shorts Off Guard

The latest surge sent shockwaves across the crypto market. According to CoinGlass data, more than $276m in Leveraged positions were liquidated in the last 24 hours alone.

Of that, $183m came from short traders caught off guard by Bitcoin’s sharp climb. Liquidations in Bitcoin totaled $83.85m, followed by $49.54m in Ethereum. Several altcoins, including XRP, XLM and Solana, also faced heavy liquidations as price swings intensified across the market.

In the past day, nearly 100,000 traders were wiped out, with the largest single liquidation order taking place on Bybit for the BTC-USDT pair, worth $2.86m. Overall, short sellers bore the brunt, with more than 91% of all liquidated positions skewed to the downside.

Markets Watch Closely as US Debates Crypto Regulation at Pivotal Moment

Investor Optimism has grown in anticipation of Crypto Week, set to begin July 14. Lawmakers in the US House of Representatives will review three major crypto bills — the CLARITY Act, the GENIUS Act and the Anti-CBDC Surveillance State Act. The outcome could reshape the legal foundation of digital assets in the world’s largest economy.

Bitcoin Economic Calendar for the week of July 14th ("Crypto Week"):

Monday: Start of the Tornado Cash Trial, U.S. House of Representatives meetings to review the "Anti-CBDC Surveillance State" Act, the "Digital Asset Market Clarity" Act of 2025, and the "GENIUS" Act

Tuesday:… pic.twitter.com/SARipkbi80

Lawmakers on both sides of the aisle, along with the Trump administration, are backing the push for clearer crypto rules. If the bills pass, they could reshape how digital assets are regulated in the US, with Ripple effects on markets, big investors and the country’s role in global finance.

Despite some lawmakers pushing back through an “Anti-Crypto Corruption Week” campaign, broader sentiment remains bullish.

Rising ETF Interest and Policy Clarity Spark Talk of a New Crypto Cycle

The total crypto market capitalization now stands at $3.86 trillion, supported by ETF inflows and Ethereum’s move back above $3,000. Altcoins like ADA and XRP have also shown strength, lifting market confidence.

Meanwhile, decentralized finance is gaining fresh momentum. Last week, the total value locked across DeFi protocols jumped by more than $20b. As a result, the sector’s TVL now stands at roughly $176b. This surge reflects growing trust in on-chain financial solutions.

Traders are now watching key macro and political developments. Bitcoin’s resilience in the face of new US tariffs has surprised many analysts, who point to a maturing market.

With ETF demand rising and legislative clarity in sight, some believe this breakout may mark the start of a longer-term uptrend.