🚀 Bitcoin Smashes $117K, Ether Tops $3K, and XRP Jumps 5% in Crypto Market Frenzy

Crypto markets erupt as Bitcoin shatters records—again. Meanwhile, Ether flexes its muscle above $3,000, and XRP rides the wave with a 5% surge. Traders cheer; skeptics mutter about 'irrational exuberance.'

Bitcoin’s bull run leaves traditional assets in the dust. Gold? Bonds? Try 'digital scarcity' and decentralized apps. Even Wall Street’s old guard can’t ignore the math.

Ethereum’s price leap fuels DeFi’s engine. Smart contracts aren’t just code—they’re printing money. XRP’s rally? A reminder that even the courtroom-battered can bounce back.

Closing thought: If 2025’s gains feel unsustainable, just wait for the next 'correction'—bankers will call it karma. Crypto never sleeps.

Elon exits DOGE as Bitcoin spikes

On April 22nd, Elon Musk announced he was stepping down from the Department of Government Efficiency, also called DOGE. That announcement came just two days after the rally began, and the timing matched too perfectly to ignore. The market read it as a sign that the fiscal picture in Washington was even worse than expected.

Elon’s exit was quickly followed by an open fight between him and President Donald Trump, who returned to the White House after the 2024 election. But that clash wasn’t just personal. It was political, and it came as Trump pushed Congress to pass what he called the “Big Beautiful Bill” (OBBB). The bill is projected to add $5.5 trillion to the national debt if made permanent. As talk of the bill intensified, bitcoin climbed even faster.

The full timeline shows how closely Bitcoin tracked the bill’s progress. On June 22nd, Bitcoin briefly dipped into its $100,000 support. But by July 1st, as analysts increased the odds of the OBBB passing, the price started to rise again. On July 3rd, the House approved the bill. And by July 4th, TRUMP had signed it into law. That same week, Bitcoin passed $117,000, while the U.S. Dollar Index dropped to levels not seen since March 2022.

That’s not the only sign of trouble. In the first half of 2025, the dollar dropped 10.8%, its worst performance to start a year since 1973. Even during the inflation panic of 1986, the dollar didn’t fall this fast. And the drop is continuing despite Trump’s ongoing tariff campaign. The administration has been sending out “tariff letters” and escalating pressure on foreign trade partners. Normally, that kind of aggression should boost the dollar. But that’s not what’s happening.

Elon launched his new “America Party” a few days ago. When asked on X if the party WOULD support Bitcoin, Elon didn’t dodge. “Fiat is hopeless, so yes,” he said.

At the same time, the Federal Reserve has taken a hard line. The latest FOMC minutes show that several members see no rate cuts coming in 2025.

The official stance has been “wait and see” for months, meaning interest rates will likely stay higher for longer. That, too, should support the dollar. But the opposite is playing out. The greenback keeps sinking, and that has everything to do with the debt crisis.

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