Boom Boom Bitcoin: Skyrockets to New All-Time High
- Jul 15
- 3 min read
Tuesday, 15th of July
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What's Moving The Market
Bitcoin Breaks Records: All-Time High Amid Crypto Week Momentum
On Monday, July 14, Bitcoin soared to a new all-time high of $123,153, driven by strong institutional demand and renewed optimism surrounding crypto legislation in the U.S. Congress.
Fueling the rally are spot Bitcoin ETFs, which have seen $2–3 billion in net inflows in just a few days—highlighting the growing appetite from institutional investors.
“Crypto Week” Momentum
Bitcoin has surged over 30% year-to-date, and an eye-popping 42,000% over the past decade, reaching a market cap of $2.4 trillion—making it the fifth most valuable asset in the world.
Fueling the rally is political tailwind from the U.S., where the Trump administration declared the week of 14 July as “Crypto Week”. Congress is set to vote on three key bills aimed at making the U.S. a global crypto hub:
Genius Act – Establishes a legal framework for stablecoins, requiring full USD or Treasury backing. The Trump family’s own stablecoin, USD1, is already in circulation.
Clarity Act – Would classify digital assets and shift regulatory power from the SEC to the more crypto-friendly CFTC.
Anti-CBDC Act – Bans the launch of a U.S. central bank digital currency (CBDC).
Together, these developments signal strong institutional support and regulatory momentum for crypto in the U.S.
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Last week
Markets saw mixed performance last week, with the S&P 500 slipping 0.3%, despite staying close to all-time highs. While the broader index paused, several key sectors and assets are powering ahead.
AI leaders like NVIDIA, bank stocks, the Chinese equity market, and copper have all seen strong upside momentum.
Q2 Earnings Season: Low Expectations, High Surprise Potential
Expectations for Q2 earnings are modest: analysts forecast just 4% earnings growth for the S&P 500 versus the same quarter last year – down from 12% in Q1 and 15% in Q4 2024. The drag is largely due to shrinking profit margins, driven in part by tariff-related cost pressures.
But as seen in past quarters, analysts may be underestimating corporate resilience. Historically, actual earnings growth (dark blue in accompanying chart) has regularly exceeded initial forecasts.
Outlook:
While headline news is sparse, strong momentum in AI, financials, China, and crypto is reshaping the market narrative. With the bar for Q2 results set low, upside surprises could drive the next leg higher.
Analysts View: Upgrades and Downgrades
Upgrades and Downgrades moved to a new site. Find all Analyst Ratings here.
What's Coming Up This Week
Tuesday, July 15
Key economic data due: U.S. inflation (CPI), producer prices (PPI), and retail sales expected — critical for Fed policy direction
Bank earnings season kicks in: JPMorgan, Wells Fargo, Citigroup, and BlackRock
China Q2 GDP report likely to influence global sentiment .
Ongoing Crypto Week legislative votes begin
Crypto Week: House begins full debate and procedural votes
Wednesday, July 16
Crypto Week:
House Ways & Means Committee holds a crypto taxation hearing
CLARITY Act floor vote expected in afternoon
Earnings: Netflix, Johnson & Johnson, Novartis, ASML, Goldman Sachs report
Thursday, July 17
Crypto Week: GENIUS Act may receive floor vote
Earnings:TSMC, American Airlines, PepsiCo, Abbott Laboratories, GE Aerospace, Travelers
Friday, July 18
Final crunch in Congress: Vote on GENIUS Act
Earnings: Blackstone, Schlumberger, 3M, American Express, Charles Schwab
Bitcoin watch: Volatility expected as crypto legislation wraps up
Why This Week Matters
Crypto Legislation: Progress on stablecoin, asset classification, and CBDC bills could reshape regulatory certainty and fuel investor interest
Earnings Focus: Bank results and tech/industrial reports will be key for gauging economic resilience and Q2 performance.
Bitcoin Momentum: Institutional inflows + ETF activity + legislative tailwinds = heightened crypto attention.
Disclaimer: This content is for informational and educational purposes only and does not constitute financial advice. It does not consider your personal objectives, financial situation, or needs. You should consider whether the information is appropriate for your circumstances and seek professional advice before making any investment decisions. Investing in stocks carries inherent risks, and the application of any strategy may not eliminate the risk of loss. Market conditions, volatility, and unforeseen events can impact outcomes, and past performance is not indicative of future results.
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