Bitcoin's ATH, XRP's Rollercoaster, and Altcoin Season Prep
Crypto Market Highlights: Bitcoin's Record, XRP's Recovery, and Altcoin Predictions
The cryptocurrency market witnessed significant activity this week, with Bitcoin reaching a new all-time high, XRP experiencing volatility, and increasing anticipation for an altcoin season led by Ethereum.
Institutional interest continues to fuel a bullish outlook across the crypto space. Here's a deeper dive into the key events:
Bitcoin's Ascent to a New All-Time High
Macroeconomic factors, combined with substantial ETF inflows, propelled Bitcoin to a new all-time high. A surprisingly optimistic US CPI report, following a weak jobs report earlier in the month, further boosted BTC's gains. Bitcoin's price briefly hit a record before retracing.
The record sparked renewed interest in Bitcoin. Increased institutional adoption continues to mark new milestones.
XRP's Price Fluctuations Following Escrow Unlock
XRP experienced a rollercoaster week after Ripple unlocked $3.28 billion in tokens from escrow. This fueled fears of a potential sell-off, triggering a social media panic and briefly impacting XRP's price. However, whale activity suggested strategic accumulation during the dip. XRP has since recovered much of its momentum.
Ripple also received a waiver from the SEC, potentially allowing the firm to sell securities to retail investors in the future.
Ethereum Primed to Lead Altcoin Rally
Experts are increasingly predicting an imminent altcoin season, potentially spearheaded by Ethereum. Analysts point to Ethereum's recent performance as a strong indicator.
“The inflow of institutional capital into Ethereum will extend the summer for altcoins — but the real question is, for how long and which coins will benefit. By the time crypto winter arrives, the ones that received this institutional backing are the most likely to hold their value. Speculative tokens with no real utility, no users, and no role in the growing Web3 economy will vanish for good,”
Coinbase also projects the next altcoin surge will likely unfold in Q3 2025.
UK Crypto Tax Policy Changes
UK-based crypto investors should be aware of upcoming changes to crypto tax policies by HMRC. Income earned through crypto-related activities, such as staking and mining, will be taxed as regular income. Compliance is crucial, as HMRC increases collaboration with exchanges and blockchain analysis.
These were some of the biggest stories this week. Stay tuned to Codeum for more crypto and blockchain updates.