When Bitcoin makes headlines, the entire crypto market is closely following. But behind Bitcoin's brilliance lies a familiar recurring story to seasoned investors: Ethereum will eventually take the spotlight—and when it does, other altcoin markets often follow.
Now, this story is playing out again.
1. Data doesn’t lie.
In the past month, the price of Ethereum has surpassed $4700—its highest level since the end of 2021. It has increased by more than 30% in the past seven days, outperforming Bitcoin, demonstrating new strength.
More importantly, Ethereum recently broke through the resistance level of $4000, a price that had limited its value for several months. This is not a tentative breakout — but a decisive move supported by a surge in trading volume and institutional participation. Technical analysts are now discussing target price levels in the range of $6000 to $8000.

Bitcoin surged strongly early this morning, briefly breaking through $124,400 to set a new high, exceeding the previous record high of $123,205.12 set on July 14. The crypto assets market is generally rising, with Ethereum continuing to strengthen, having already reached its highest level since November 2021.
At the same time, the US stock market's Nasdaq and S&P 500 indexes continue to set new closing historical highs. The "new star of the coin circle" Bullish made its debut with a surge of nearly 200%, which was later significantly reduced to an increase of 89%.
What are the driving factors behind this round of Bitcoin and Crypto Assets market rise, and how much have we seen in this wave of market?
1. What factors are driving this round of market rise?
1. The rising expectations of interest rate cuts by the Federal Reserve are driving up Bitcoin and other risk assets.
The latest CPI inflation figures from the U.S. this week met expectations, reinforcing the market's bets on the Federal Reserve's interest rate cut in September. U.S. Treasury Secretary Basant said in

This week will become the "busiest data week of the year" in the United States. What major events are worth following in the next three days? How will the future trend of the crypto market be?
1. Major events to follow in the next three days
1. Federal Reserve Meeting
At 2:00 AM Beijing time on July 31, the Federal Reserve will announce the latest interest rate decision, and Powell will hold a monetary policy press conference.
On July 28, local time, Trump stated that the Federal Reserve must cut interest rates. Trump said, "Even without cutting rates, America is doing well, but after cutting rates, America will do even better." The term of Federal Reserve Chairman Powell ends in May 2026. The Federal Reserve led by Powell is unwilling to lower the benchmark interest rate from the current target range of 4.25% to 4.50% to 1% as Trump requested, in order to reduce the federal government's borrowing costs. Trump is dissatisfied with this and has repeatedly threatened to make Powell "go away."
"Federal Reserve Mouthpiece" Nick

In the first half of 2025, the Crypto market was significantly impacted by various macro factors, among which the three most critical aspects were: Trump's administration's tariff policy, the Fed's interest rate policy, and the geopolitical conflicts in the Russia-Ukraine and Middle East regions.
Looking ahead to the second half of the year, the Crypto market will continue to navigate in a complex and ever-changing macro environment, with the following major macro factors continuing to play an important role:
1. The derivative effect of Trump's tariff policy is inflation expectations.
Tariffs are an important policy tool for Trump's administration. The Trump administration hopes to achieve a series of economic goals through tariff negotiations: first, to expand U.S. exports and reduce trade barriers of other countries; second, to retain a base tariff of 10%+ to increase U.S. fiscal revenue; third, to enhance the domestic competitiveness of specific industries and stimulate the return of high-end manufacturing.
As of July 25, the tariff negotiations between the United States and the world's major economies have made progress.

With the compliance stablecoin leader Circle going public, it has created a benchmark effect, and domestically there has been a growing follow on stablecoins.
Various stablecoin payment conferences are emerging one after another, and companies are organizing learning sessions. Naturally, the cryptocurrency community is also actively discussing, with scholars engaging in debates.
Behind the hustle and bustle, who is actually making money right now?
In fact, according to the overall process, the development of stablecoins can be divided into three stages, and these three stages have different roles that can make money.
The first stage is to apply for a license.
Compliance first, currently everyone is applying for licenses in Hong Kong.
The biggest problem with regulation in Hong Kong is that it is too strict, with many requirements, and many companies do not know how to meet the regulatory demands.
At this time, law firms stepped in to provide legal consulting services to the companies applying for licenses, helping them submit materials and communicate with regulators.
So at this stage, the law firm has made money first.
Phase Two

Introduction
Cryptocurrencies such as Bitcoin are increasingly entering the global mainstream financial system. In mainland China, cryptocurrency trading has been strictly restricted or even banned since 2017. However, internationally, multiple regions including the United States, Canada, Europe, and Hong Kong are actively launching compliant investment products like Bitcoin exchange-traded funds (ETFs) to meet investor demand and view Bitcoin as a strategic asset. In contrast, the current comprehensive ban on cryptocurrencies in mainland China may maintain financial order in the short term, but could lead to significant missed opportunities in the long run.
This article will argue that China should quickly legalize Bitcoin ETFs in the mainland, allowing residents to invest in and hold cryptocurrencies through compliant financial products. This would not only leverage private capital to indirectly reserve strategic assets for the country, meet the genuine market demand, and prevent the risks of underground gray trading, but also utilize Hong Kong's regulatory advantages to achieve national goals.

On July 14th, BTC broke through 123,000 USD, reaching a new high. Taking advantage of the new high of Bitcoin, an ancient Whale who built a position in 2011 and once held 80,000 BTC (with a cost price between 0.78 USD and 3.37 USD) began to move towards Galaxy.

The fall without reason is frustrating, but the rise without reason is also concerning.
In the past two days, the cryptocurrency market has sensed the flavor of a "bull". Not only has Bitcoin continued to rise, breaking through $118,000 and constantly setting new historical highs, but ETH has also been revitalized, rising all the way to over $3,000, becoming the leader in the cryptocurrency market. Overall, the cryptocurrency market is showing a trend of rising across the board, with the total market capitalization having reached $3.7 trillion, up more than 1% in the last 24 hours.
The market is enjoying the sweet rain of a rise, but is also puzzled by the reason for the rise, after all, no one wants to be lured by false prosperity to stand guard on a high mountain. But the question seems to lie here, what exactly is the logic behind this wave of rise?
Where is the benefit?
In fact, finding the real reason for a rise is as absurd as proving "your mom is your mom"; attribution is essentially a false correlation, but where there is effect, there must be cause, which is a more habitual operation of the market.

This morning, ETH briefly surpassed the $3000 mark for the first time since early February this year. In recent days, the ETH market has changed its previous downward trend, rising from around $2500 to $3000. As of the time of writing, the seven-day rise is 16.2%.
According to 8marketcap data, the market capitalization of Ethereum has risen to $361.68 billion, surpassing SAP, and ranking 35th in global asset market capitalization. Although the rise of ETH has a correlation with BTC, what other factors are affecting ETH's market? What do industry insiders say? Is Ethereum leading the altcoin season?
1. What factors are driving the ETH market pump?
1. Stablecoin ecosystem drive
On the Ethereum network, the issuance of stablecoins has always remained active, serving as the on-chain cash engine that drives the continuous demand for ETH block space, ensuring the liquidity of the Ethereum on-chain ecosystem. On June 26, the basis

The Shanghai State-owned Assets Supervision and Administration Commission held a study meeting to discuss the development of Crypto Assets and stablecoins, sparking heated discussions in the market regarding policy signals. Bitcoin prices have risen significantly, and related stocks in Hong Kong and A-shares, such as Guotai Junan International, have also climbed. Companies like Ant International and JD.com are actively positioning themselves in the stablecoin market, reflecting the market's response under policy promotion. However, the core ban on Crypto Assets trading in mainland China remains unchanged.

Trump launched a massive tax cut, money printing, and military spending combination on the eve of Independence Day, signaling a depreciation of the dollar, which has a positive impact on Bitcoin. The market expects Bitcoin to experience a Rebound, with capital inflow into the crypto market accelerating; at the same time, talent from Silicon Valley is shifting towards Web3. Investors are advised to buy low Bitcoin and follow American concept chains, being cautious not to miss the bull run opportunity.

8 dormant Bitcoin addresses that had been inactive for 14 years suddenly activated, causing market panic. The market speculates that this may be related to independent miners from 2011, whose holdings cost is extremely low. Some analysts believe the activation is a test of whale strategies, with limited short-term impact on the market. At the same time, new U.S. legislation and banking system policies may drive U.S. stocks and Bitcoin to continue to rise, with a bullish outlook for the future.