From Bitcoin’s all-time highs, ETH surge to political drama and institutional moves, this week was packed with pivotal shifts across the crypto and financial world. Here’s everything you need to know, broken down into simple language and clear categories.
Bitcoin Mania and Market Contrasts
Bitcoin continued its powerful rally, reaching an all-time high of $118,833. The surge sparked widespread discussion not only due to the price but also because of its divergence from the broader crypto market. Data showed that while Bitcoin was near its peak, almost no other cryptocurrency was trading within 5% of their 252-day highs. This contrasts with past rallies where a large portion of the market moved in sync. Historically, such divergence suggests Bitcoin might still have room to climb.
Adding to the momentum, over $540 million in shorts were liquidated in just one hour, suggesting aggressive bullish sentiment. Meanwhile, Bitcoin dominance (BTC.D) started to dip, raising the question of whether altseason is beginning. Ethereum also saw significant action, nearing the $3,000 mark, with strong institutional interest, including a massive $158 million investment from BlackRock, surpassing their Bitcoin holdings.
Institutional Moves and ETH’s Big Week
Ethereum took center stage this week. SharpLink bought 10,000 ETH directly from the Ethereum Foundation, showing long-term support. Meanwhile, a single wallet withdrew 72,050 ETH (~$200M) from Kraken, indicating massive accumulation. This aligned with a humorous callback to Eric Trump’s tweet from February claiming “it’s the best time to buy ETH”, a statement that was followed by months of price stagnation.
Altcoins also showed signs of life. Avalanche ($AVAX) posted a 200% surge in transactions over the past month, and Solana drew attention after a Solana founder commented on Arweave’s tech use cases, hinting at potential collaboration. Grayscale’s updated smart contract platform allocations also showed heavy weighting towards Ethereum and Solana.
Macro Tensions and Political Theater
Geopolitical tensions resurfaced with new conflict between Russia and Ukraine. Donald Trump voiced frustration at Putin’s “slow” peace process, promising a major announcement Monday. Uncertainty remains over whether this signals escalation or resolution. In such volatile environments, analysts advised maintaining high liquidity and reducing exposure to highly volatile assets like crypto.
Domestically, the US political scene remained turbulent. Trump and Elon Musk clashed publicly, with Musk launching the “America Party” and Trump pushing Congress to pass his “Big Beautiful Bill.” Trump also advocated for a dramatic 300 bps rate cut and threatened trade tariffs against a long list of countries. The US posted a rare $27B budget surplus in June, largely from a surge in tariffs (+301% YoY).
Interest Rates, Inflation, and Dollar Decline
The macroeconomic backdrop painted a mixed picture. The US dollar saw its worst start to a year since 1973. Meanwhile, gold and silver prices rose, treasury yields climbed, and deficit concerns persisted. Fed Governor Christopher Waller confirmed potential rate cuts as soon as July, aligning with Trump’s call and bolstering the S&P 500, which hit a record 6,280 points.
Yet under the surface, the deficit outlook remains grim. US national debt hit a record, with projections showing a $10 trillion increase by 2028. This scenario would double the debt since 2020, stoking fears of long-term insolvency.
Blockchain Networks and Ecosystem Activity
The blockchain space saw significant network-level developments:
- BNB Chain completed its 32nd quarterly burn, destroying 1.59 million BNB worth over $1 billion.
- Avalanche outperformed all blockchains in transaction growth.
- SUI outpaced Solana in stablecoin transfer volume over the past month.
- Aerodrome, the economic engine of Base, contributed $260M to its GDP, representing 44% of all activity.
Solana and Aptos both set new records for Real World Assets (RWA) tokenization. Solana’s users surged 631% in 30 days, while Aptos’s RWA Total Value Locked (TVL) grew by 56.28%, reaching $538M.
Corporate Activity and Adoption Trends
The week saw major corporate crypto purchases. Companies acquired over 159,000 BTC worth $17.4B in Q2 2025. Metaplanet Japan added another 2,205 BTC to its holdings. Ripple announced a new partnership with BNY Mellon, and their stablecoin $RLUSD reached a $500M market cap just six months after launch.
Hyperliquid, a decentralized trading platform, surpassed Ethereum, Solana, and Bitcoin in daily fees collected ($1.7M), reflecting growing DeFi momentum.
Regulatory Shifts and Policy Momentum
In the US, the House Financial Services Committee announced steps to support Trump’s goal of making the US “the crypto capital of the world.” While ambitious, the move signals growing political willingness to embrace the industry.
Death of the Weak Projects
According to CoinMarketCap, over 1,400 altcoins were deemed inactive due to delisting, volume collapse, or fraud. While grim on the surface, some interpreted it as market cleansing. Stronger projects continue to attract capital and attention as weak ones are discarded.
Final Notes: A Millionero Thought
The crypto market is as exciting as ever, but don’t let the noise fool you. Price pumps and political headlines are never a substitute for clear strategy. At Millionero, we always say: this isn’t financial advice, but it’s definitely advice to think.
Please DYOR (Do Your Own Research). Start at blog.millionero.com to dig deeper into the trends.
When you’re ready, and only when you’re ready, trade spot and perps confidently on Millionero.