More green candles as XRP and others continue to surge, while landmark crypto regulation moves ahead
📈 Crypto markets continue to rally - with Bitcoin up 1.7% and XRP soaring 12% overnight.
🚀 XRP among best performers - gaining 38% over the past week and 60% in the last 30 days.
🏛️ The GENIUS stablecoin bill passes Congress - awaiting President Trump’s signature to become US law.
😬 Fear and Greed Index hits 71 - raising questions about whether the market is overheated or still has room to run.
The broader crypto market is back in the green as digital assets continue to ride the wave of optimism that has swept through markets over the past two weeks. After a brief pause, Bitcoin is also moving upward again, delivering gains of around 1.7% over the last 24 hours. XRP continues its impressive performance, adding another 12% overnight, bringing its seven-day gains to 38% and more than 60% over the past 30 days. Cardano (ADA), Uniswap (UNI), and Lido (LDO) are also standout performers this morning, each soaring by more than 10% overnight.
After a week of debate in the House of Representatives, the GENIUS stablecoin bill is set to become the first of the three key crypto bills on its way to becoming law in the US. This could have significant implications for crypto regulation globally, as other countries often look to the US for direction. The bill has now been sent to President Donald Trump, who is expected to sign it into law soon.
As markets continue to rise, the Fear and Greed Index has climbed to 71, well into Greed territory. Does this signal an overheating market primed for a pullback, or is there more upside to come?
In the markets…
🌍 Total crypto market cap ↗️
The global crypto market cap is approximately $3.93 trillion, up 3.76% over the past 24 hours.
🟠 Bitcoin (BTC) ↗️
Price: $119,865 up 1.09% in the last 24 h
Daily high: $120,689
Daily low: $117,715
📈 S&P 500 ↗️
SPY is currently up about 0.54% since yesterday’s close.
🥳 Fear & Greed Index
The Crypto Fear & Greed Index stands at 71/100, indicating Greed among investors.
📊 Bitcoin Relative Strength Index (RSI) (14)
The 14-day RSI for BTC is approximately 53, in neutral territory.
Data is accurate as at 07:48 GMT, 18 July.
Cautionary Notes
It's definitely tempting to get swept up in the excitement, but please heed these words of caution: Do your own research, only invest what you can afford, and make good decisions. The indicators contained in this article will hopefully help in this. Remember though, the content of this article is for information purposes only and is not investment advice or any form of recommendation or invitation. The Digital Commonwealth always advises you to obtain your own independent financial advice before investing or trading in cryptocurrency.
