Crypto Weekly Report: Multiple Bullish Factors Ignite the Market as Bitcoin Surges Past $65,000 to Hit a New Local High

Crypto News Flash (July 13 – July 17): This week, the cryptocurrency market saw a powerful rebound catalyzed by both macro policy developments and positive data. Macro legislation enacted: The industry received a major boost this week as a new bill—focused on crypto market structure, consumer protection, and combating illicit finance—garnered broad support from multiple parties and enforcement agencies. If passed, this bill will provide the industry with a clear framework and directly attract traditional financial institutions to accelerate their entry. Enterprises and institutions increase holdings: MicroStrategy further strengthened its digital capital platform positioning this week and now holds over 840,000 BTC, reiterating its long-term holding strategy. Meanwhile, the US Bitcoin spot ETF recorded a net inflow of $107.7 million on July 15, ending an eight-week streak of outflows, with the Ethereum ETF also turning positive. Market-wide surge: Boosted by US June inflation data coming in weaker than expected and increased expectations for a Federal Reserve rate hold, July 15 saw the crypto market rally into a bullish frenzy. Bitcoin (BTC) maintained the key $62,000 support and broke strongly above the $65,000 mark during trading; Ethereum (ETH) showed even more impressive performance with a single-day surge of over 6%, soaring to $1,890 with clear signs of capital returning to Layer 2 and DeFi ecosystems. Overall, driven by regulatory compliance and institutional capital, market confidence was fully reignited this week, returning to an upward trajectory.