What to know:

By Omkar Godbole (All times ET unless indicated otherwise)

The crypto market is a sea of green with top coins extending near-vertical rallies that began over two weeks ago. Bitcoin (BTC) climbed above $122,000 for the first time on record, becoming the best-performing asset in 2025.

The rally has the crypto community identifying bitcoin price targets ranging from $140,000 to $200,000. Some observers, however, cautioned against getting carried away by the bull momentum.

"While some analysts project $130-140K targets, history teaches us that parabolic moves often invite sharp corrections," said Marcin Kazmierczak, a co-founder of blockchain oracle Redstone. "The industry’s maturation is real, institutional infrastructure, regulatory clarity, and use cases are all advancing. Yet this very maturation demands we approach these milestones with professional discipline rather than euphoria."

Kazmierczak noted that while the technical breakout is undeniable, the market hasn't seen a correction in over 47 days. "More than $276m in leveraged positions were liquidated in the last 24 hours alone, reminding us that volatility remains bitcoin’s constant companion," he added.

More caution shows in options market activity on Deribit, which suggests traders are in no rush to take bullish speculative bets. One-month risk reversals, measuring the pricing differential between bullish calls and bearish puts, are flat even as the spot price trades at record highs.

"By contrast, September and December risk reversals continue to show a firm bid for calls, which could indicate a preference to hedge against short-term volatility while maintaining a longer-term bullish outlook," Singapore-based QCP Capital said in a market update.

Looking ahead, Congress' so-called Crypto Week could see lawmakers discuss the CLARITY Act, the GENUIS Act and the Anti-CBDC Surveillance Act. Clarity on the regulatory front could bode well for top tokens, stablecoins and, especially, tokenization. As Kazmierczak said in his analysis, the real opportunity lies not in speculative trading, but in building the infrastructure for programmable money and asset tokenization.

Tuesday's U.S. inflation data is likely to show a renewed uptick in inflation in June. According to analysts, it may not matter much to crypto, which is being driven higher by factors other than Fed rate-cut odds. Nevertheless, potential dollar strength on the back of inflation data could affect the crypto market. Stay alert!

Crypto

• July 14, 10 p.m.: Singapore High Court hearing on WazirX’s Scheme of Arrangement, marking a critical step in the exchange's restructuring after the $234 million hack on July 18, 2024.
• July 15: Alchemist staking update launches, allowing token holders to stake ALCH for access to advanced features, premium benefits and ecosystem rewards, potentially boosting token utility and demand.
• July 15: Lynq is expected to debut its real-time, interest-bearing digital-asset settlement network for institutions. Built on Avalanche’s layer-1 blockchain and powered by Arca’s tokenized U.S. Treasury fund shares, Lynq enables instant settlement, continuous yield accrual and improved capital efficiency.
• July 15, 6 a.m.: Layer 1 blockchain Alephium (ALPH) activates the "Danube" hard fork upgrade on its mainnet, promising 8-second block times, 20,000+ TPS, groupless addresses, passkey login, chained transaction and enhanced developer tools.
• July 15, 1 p.m.: Caffeine, an AI-powered platform that lets anyone build Web3 decentralized apps (dapps) using natural language, launches publicly at the “Hello, Self-Writing Internet” event in San Francisco. Caffeine uses Internet Computer (ICP) technology to generate fully on-chain, production-ready apps. Livestream link.
• July 15, 3 p.m.: U.S. Senate Committee on Agriculture, Nutrition, and Forestry holds a market structure hearingtitled “Stakeholder Perspectives on Federal Oversight of Digital Commodities.” Livestream link.
• July 16, 9 a.m.: U.S. House Ways and Means Committee oversight hearing titled "Making America the Crypto Capital of the World: Ensuring Digital Asset Policy Built for the 21st Century."
• July 18: Lorenzo Protocol, a Cosmos-based blockchain with native token BANK, launches USD1+ OTF on BNB Chain mainnet. This institutional-grade on-chain traded fund lets users stake stablecoins to mint sUSD1+ tokens that earn stable, NAV-backed yield from real-world assets, CeFi quantitative strategies and DeFi protocols. All returns are settled in USD1 stablecoin, issued by World Liberty Financial, whose stablecoin infrastructure powers the product’s stable yield mechanism.

Macro

• July 14, 3 p.m.: Argentina’s National Institute of Statistics and Census releases June inflation data.
  • Inflation Rate MoM Prev. 1.5%
  • Inflation Rate YoY Prev. 43.5%
• July 15, 8:30 a.m.: Statistics Canada releases June consumer price inflation data.
  • Core Inflation Rate MoM Prev. 0.6%
  • Core Inflation Rate YoY Prev. 2.5%
  • Inflation Rate MoM Est. 0.2% vs. Prev. 0.6%
  • Inflation Rate YoY Prev. 1.7%
• July 15, 8:30 a.m.: The U.S. Bureau of Labor Statistics (BLS) releases June consumer price inflation data.
  • Core Inflation Rate MoM Est. 0.3% vs. Prev. 0.1%
  • Core Inflation Rate YoY Prev. 2.8%
  • Inflation Rate MoM Est. 0.3% vs. Prev. 0.1%
  • Inflation Rate YoY Est. 2.6% vs. Prev. 2.4%
• July 16, 2 a.m.: U.K.'s Office for National Statistics releases June consumer price inflation data.
  • Core Inflation Rate MoM Prev. 0.2%
  • Core Inflation Rate YoY Est. 3.5% vs. Prev. 3.5%
  • Inflation Rate MoM Est. Prev. 0.2%
  • Inflation Rate YoY Est. 3.4% vs. Prev. 3.4%
• July 16, 8:30 a.m.: The U.S. Bureau of Labor Statistics releases June producer price inflation data.
  • Core PPI MoM Est. 0.2% vs. Prev. 0.1%
  • Core PPI YoY Prev. 3%
  • PPI MoM Est. 0.2% vs. Prev. 0.1%
  • PPI YoY Prev. 2.6%
• July 16, 10 a.m.: Speech by Fed Governor Michael S. Barr on "Financial Regulation" at "Conversation with Governor Barr" in Washington. Livestream link.
• July 17, 10 a.m.: Speech by Fed Governor Adriana D. Kugler on "A View of the Housing Market and U.S. Economic Outlook" at the Housing Partnership Network Symposium in Washington. Livestream link.
• July 17, 6:30 p.m.: Speech by Fed Governor Christopher J. Waller on the economic outlook at an event hosted by the Money Marketeers of New York University.
• Aug. 1, 12:01 a.m.: New U.S. tariffs take effect on imports from trade partners that failed to reach agreements by the July 9 deadline. These increased duties could range from 10% to as high as 70%, impacting a wide range of goods.

Earnings (Estimates based on FactSet data)

• July 23: Tesla (TSLA), post-market
• July 29: PayPal Holdings (PYPL), pre-market
• July 30: Robinhood Markets (HOOD), post-market
• July 31: Coinbase Global (COIN), post-market
• July 31: Reddit (RDDT), post-market

Governance Votes & Calls

Unlocks

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