Bitcoin reached an unprecedented peak, surpassing $120,400 on Monday, as the much-anticipated Crypto Week 2025 begins.
This remarkable surge has resulted in the cryptocurrency doubling its valuation over the past year, fueled by renewed institutional engagement, favorable regulatory environments, and mounting excitement regarding forthcoming legislation in the United States.
At the last check, Bitcoin was priced at $120,492, reflecting a gain of over 14% in the past month.
Bitcoin just hit $119,000 for the first time. 10 years ago it was trading at $290. That’s a 410x increase (+83% annualized). $BTC https://t.co/l5IYmkeySJ pic.twitter.com/nz6NxZlY0k
— Charlie Bilello (@charliebilello) July 13, 2025
Over $276 Million Liquidated As Bitcoin Rally Surprises Traders
This latest price rally has sent tremors through the cryptocurrency market. Data from CoinGlass reveals that over $276 million in leveraged positions were liquidated within just 24 hours.
Of that total, $183 million was attributed to short sellers who were unprepared for Bitcoin’s rapid ascent. In terms of specific liquidations, Bitcoin accounted for $83.85 million, while Ethereum saw $49.54 million in liquidations. Various altcoins, including XRP, XLM, and Solana, also experienced significant sell-offs as market volatility escalated.
In just one day, almost 100,000 traders were affected, with the largest individual liquidation order recorded on Bybit for the BTC-USDT pair, totaling $2.86 million. Short sellers faced the brunt of these liquidations, with over 91% of the positions that were closed being in the negative.
Market Focus Shifts to US Crypto Regulation Discussions
As excitement builds for Crypto Week, which kicks off on July 14, investor sentiment has surged. In the US House of Representatives, three critical crypto proposals—the CLARITY Act, the GENIUS Act, and the Anti-CBDC Surveillance State Act—are set for discussion. The implications of these bills could fundamentally alter the legal landscape for digital assets in the world’s leading 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
— Ledn (@hodlwithLedn) July 13, 2025
Legislators from both political parties, alongside figures from the Trump administration, are advocating for explicit regulatory guidelines for cryptocurrency. Should these bills pass, they have the potential to significantly influence the regulation of digital assets in the US, affecting market dynamics and the country’s positioning in global finance.
While some lawmakers are opposing this movement through an “Anti-Crypto Corruption Week” initiative, the overall sentiment in the market remains optimistic.
Growing ETF Interest and Legislative Clarity Raise Hopes for a New Crypto Cycle
The current total market capitalization of cryptocurrencies has reached $3.86 trillion, bolstered by increasing ETF investments and Ethereum’s resurgence above $3,000. Other altcoins, including ADA and XRP, have also exhibited strong performance, contributing to heightened market confidence.
At the same time, decentralized finance (DeFi) is experiencing a new wave of growth. In the previous week, the total value locked in DeFi protocols surged by over $20 billion, bringing the sector’s TVL to around $176 billion. This growth signifies an increasing trust in blockchain-based financial solutions.
Traders are now closely monitoring essential macroeconomic and political updates. The resilience Bitcoin has displayed in response to new US tariffs has surprised many market analysts, indicating a maturation within the sector.
With rising interest in ETFs and the prospect of clearer regulations appearing on the horizon, there is a growing belief that this recent breakout could herald the beginning of a sustained upward trend.
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