Technical analyst Rekt Capital stated, “Bitcoin’s downtrend is over,” and suggested that the next target could be $120,000 or higher. During this rally, $529 million in liquidations occurred—$465 million of which came from short positions, providing a strong signal for investors. 

Bitcoin futures volume surged by 45% to over $60 billion, while open interest climbed 7.4% to reach $79 billion. These figures indicate a bullish sentiment among investors.  Meanwhile, interest in spot Bitcoin ETFs is also surging. According to Farside Investors, there was a $10 billion net inflow on Wednesday alone, with total assets under management exceeding $50 billion, marking a new record. 

CLARITY Act and Fed Rate Cut Expectations Drive Market Sentiment 

The CLARITY Act, set to take effect on July 14, will provide clear regulatory frameworks for crypto assets in the U.S., aiming to create a secure environment for both retail and institutional investors. The U.S. has declared July 14–19 as Crypto Week, with several key legislative proposals on the agenda. 

Ripple CEO Brad Garlinghouse posted on X: 

“Every Senator acknowledged that crypto is here to stay and deserves clear rules… That alone is a HUGE step toward the U.S. regaining lost ground.” 

Coinbase CEO Brian Armstrong also expressed optimism: 

“America is ready for crypto… The CLARITY Act must pass. We need POTUS to sign it into law.” 

At the same time, U.S. President Donald Trump signed the “Big Beautiful Bill” last week and is now pushing for a 300 basis point Fed rate cut. If enacted, this would be the largest rate cut in U.S. history—three times the emergency 100 bps cut during COVID-19. 

Is Altcoin Season Underway? 

Ethereum (ETH) surged nearly 7% to approach $2,800, while XRP exceeded $2.41, its highest in seven weeks. Solana (SOL), Dogecoin (DOGE), and Cardano (ADA) also posted gains of around 5%. Altcoin trading volumes increased between 60% and 100%. 

The Altcoin Season Index signals that recovery is underway, potentially setting the stage for a new alt season. Institutional adoption through projects like GameSquare and SharpLink Gaming is accelerating, creating a strong catalyst for major altcoins like Ethereum. 

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The post Bitcoin Hits Record: CLARITY & Fed Cut Ahead! appeared first on Coin Engineer.

You May Be Interested: Ripple Faces $2 Billion SEC Fine Despite XRP Not Being Security

Metaco’s CEO Treccani highlights that the cooperation with HSBC was not a quickly developing process after Ripple purchased the company. It turns out Metaco has been in contact with HSBC for over 18 months. While Treccani admits to an indirect correlation between the Ripple protocols and Metaco’s banking customers, he notes that the success of both companies affects each other. Metaco and HCBC Partnership is going on very well.

Treccani says, “Adoption of Ripple and Metaco encourages the adoption of the XRPL protocol. Ripple’s successes mean success for the XRP Ledger.” He adds that the service provided to HSBC involves not only infrastructure but also support in areas of tokenization lifecycle, payment methods, and liquidity management.

However, after the sale of Metaco, it was reported that some banking customers were worried and wanted to move their services to other banks. This concern is due to Ripple’s dispute with the U.S. Securities and Exchange Commission (SEC).

While Treccani notes that some of the speculation is “ too crazy,” he emphasizes this development will not bring any changes for customers. He points out that large banks like HSBC are searching for robust digital asset storage technology in the world of tokenization. Treccani predicts the adoption of cryptocurrencies is a process and many banks will embrace these currencies over time.

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The post Metaco and HCBC Partnership Excites XRP Community! appeared first on Coin Engineer.

In the evening, the cryptocurrency markets witnessed one of the most substantial movements in recent history. A noteworthy breakthrough emerged in the ongoing legal battle between Ripple and SEC, favoring XRP. The court judge declared that the sale of XRP cannot be considered an investment contract offering and that the XRP sold to the public may not be classified as a security.

You might like it: Why XRP Price Increased?

Following these significant developments, the crypto markets particularly XRP, underwent a notable upward surge. The price of the coin soared by over 80%, propelling it to the position of the fourth-largest cryptocurrency by market capitalization.

Following the unexpected surge in XRP, Uphold, facilitating it purchases in the USA, experienced a significant outage. Access to the platform and stock market remained inaccessible for an extended period.

Meanwhile, between these unfolding events, an additional piece of news emerged from the Gemini stock market. Gemini revealed that it is actively exploring the possibility of listing it for both spot trading and derivatives transactions, conducting a thorough investigation into the matter.

Statement from SEC

After the judge made a decision, people started paying attention to the SEC. The SEC said:

“We are happy that the court has decided that XRP tokens, when offered and sold by Ripple as investment contracts in certain situations, break securities laws. We will keep reviewing the decision.”

The reason behind the SEC’s statement is that the court considered Ripple’s corporate sales of XRP as an unlawful offering of securities that were not properly registered.

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