BTC Hits New ATH, ETH Pushes Higher as Trump-Putin Meeting Grabs Spotlight: Your Weekly Crypto Recap

It was another historic week for the cryptocurrency market as bitcoin, as well as a few altcoins, managed to chart fresh peaks.

But let’s begin with the largest digital asset. Just last week, its price struggled to maintain above $117,000 and even dipped below that level on a couple of occasions. However, it had a solid weekend in which it added a few grand and jumped toward $119,000.

The beginning of the current business week was a lot more promising. On Monday alone, the cryptocurrency spiked above $122,000 to mark a multi-week peak before the bears returned and pushed it south by over three grand.

However, the culmination was yet to occur as the bulls initiated a spectacular leg up on Wednesday and Thursday morning, driving bitcoin above its July 2025 all-time high of $123,200 to a new one. This time, the asset peaked at $124,500.

Following this explosive price jump, though, came the almost inevitable correction. BTC quickly dropped back down to $122,000 and $121,000, but that was just the start. The hot PPI data for July came out, with numbers surging to a three-year high, which had an immediate impact on bitcoin’s price.

Within minutes, the asset dumped to under $118,000, taking the rest of the market with it, which resulted in nearly $1 billion worth of liquidations.

Although it has recovered some ground since then, BTC is still below $119,000. More volatility is expected later today as Donald Trump is set to meet with Vladimir Putin to discuss a possible peace deal between Russia and Ukraine.

Ethereum also had a big week, surging to its highest level since 2021 of over $4,700. However, it couldn’t push further to break its all-time high of almost $4,900, unlike BNB, which set a new record at $865. Other notable weekly gainers include SOL, HYPE, LINK, and ADA.

Market Data

Market Cap: $4.110T | 24H Vol: $236B | BTC Dominance: 57.5%

BTC: $118,665 (+1.5%) | ETH: $4,640 (+18%) | XRP: $3.12 (-6.5%)

This Week’s Crypto Headlines You Can’t Miss

A Modest One: Saylor’s Strategy Buys 155 BTC for $18 Million. The week began with a few modest bitcoin purchases from some of the well-known names. Strategy accumulated 155 BTC for $18 million, while Metaplanet outshone it with a 518 BTC addition, purchased for over $61 million.

Bitcoin Dominance Drops Below 60% as Altseason Signals Flash. The metric comparing BTC’s market share against all other cryptocurrencies has dropped significantly in the past month or so, going from 62% to under 58%. According to analysts, this hints at the start of the long-anticipated altseason.

Terraform’s Do Kwon Pleads Guilty to Its Collapse. Terraform Labs’ CEO, Do Kwon, who repeatedly claimed he was not responsible for the multi-billion-dollar collapse, has finally pleaded guilty. He will forfeit $19 million in proceeds while he awaits the sentencing in December 2025.

Is the Bull Cycle Nearing Its Top? Here’s What Bitcoin NUPL Metric Says. As BTC registered another all-time high week above $124,000 and crashed shortly after, analysts were quick to speculate whether this bull cycle has run its course or there are more gains ahead. Here’s what the bitcoin NUPL metric had to say about this.

Coinbase Closes Deribit Deal as Crypto Derivatives Skyrocket. After a few months of speculations, Coinbase announced the official acquisition of the world’s largest crypto options exchange – Deribit. Coinbase’s President and COO described it as the “biggest deal in crypto history.”

Ethereum Exit Queue Heating up Again: 808,880 ETH Worth $3.7B Held Up. Validators rushing to exit or enter the staking part of Ethereum’s ecosystem have clogged the network as the queue has rocketed to over 800,000 ETH, valued at $3.7 billion at today’s prices.

Charts

This week, we have a chart analysis of Ethereum, Ripple, Cardano, Solana, and Hyperliquid – click here for the complete price analysis.