Bitcoin soared past $118,000 this week, triggering over $1 billion in short position liquidations across major exchanges. As prices continued to surge, global headlines unfolded — including a Canadian woman’s $1.3 million loss in a SIM-swap scam, sparking a lawsuit against her telecom provider and trading platform.
In India, the government imposed an 18% Goods and Services Tax (GST) on crypto transactions. As a result, Bybit scaled back services in the country, highlighting growing regulatory pressure in the region.
Meanwhile, BitMine ($BMNR) stock skyrocketed 700% in just 24 hours following the appointment of Tom Lee as Chairman and the launch of an Ethereum treasury strategy reminiscent of MicroStrategy’s Bitcoin strategy.
On the institutional front, spot Bitcoin ETFs enjoyed five consecutive days of inflows totaling $218 million. Ether ETFs also hit record-breaking trading volume, confirming sustained interest from traditional finance.
From bullish breakouts to legal battles and regulatory crackdowns, this week’s developments reflect a rapidly maturing — and increasingly volatile — global crypto market.
Source: news.bitcoin.com
Published: 2025-07-13 15:48:00
