Crypto Bulls Charge Forward as market Soars
The crypto world lit up on July 11 as Bitcoin and altcoins soared over 5%. bitcoin hit close to $120,000, sparking joy across the crypto community.
The total market value jumped to $3.6 trillion. The crypto Fear and Greed Index reached a “greedy” 65.Prices climbed as anticipation grew for good news in the upcoming crypto week.
Policymakers in Washington will debate three major bills. The GENIUS bill, set to regulate stablecoins, has already cleared the Senate. They’ll also look at the CLARITY Act, which clarifies the SEC and CFTC’s duties. Plus, there’s a proposal to forbid Central bank Digital Currencies in America.
Bitcoin and other cryptos rose as investors hope the Fed will cut interest rates in September, continuing until 2026. Some Fed members endorse early cuts.
Donald Trump’s desire for a 300 basis point cut may influence future nominations. Historically, cryptos thrive in low-interest periods.
Institutional interest on the rise shows crypto’s growing appeal. Bitcoin ETFs saw $51 billion influxes. Ethereum ETFs hit $5 billion.
premyslaw Kral, Zondacrypto’s CEO, notes rising ETF inflows bring significant changes to the crypto landscape.
there’s also buzz about China possibly legalizing cryptocurrencies. Legalization could spike demand among Chinese investors.
- Top altcoins to eye: Meme coins like Pepe (PEPE), Dogwifhat (WIF), and Fartcoin (FARTCOIN).
- Utilities like Ripple (XRP) and Solana (SOL).
Analysts such as Arthur Hayes predict an altcoin boom. Investor interest continues to climb amidst positive developments.
