Here’s a breakdown of the crypto market from last week:
Bitcoin Knocked on $90K’s Door, But Got No Entry Access
Bitcoin made another attempt at $90,000 this week. It looked like it might actually stick, especially after the BTC price went above $94,000 at some point. But then, momentum faded, and the market reminded everyone that wanting something badly has never made a coin rally.
Ethereum followed its usual script, falling back to the $2.8K–$2.9K range, and other top altcoins mirrored its move. In summary, for a brief period, it seemed the market was ready to move strongly again. But that window closed quickly.
The macro backdrop explains a lot of this behaviour.
By the time markets got moving last week, most of the “good news” had already been digested. U.S. inflation cooled to 2.7%. Unemployment rose to 4.6%, the highest since 2021. The Bank of England cut rates by 0.25%. On paper, that’s supportive. In practice, it changed very little. Traders sold into strength and took profits instead of chasing, because none of this came as a surprise.
Japan tried to make things interesting midweek. The Bank of Japan raised rates to 0.75%, its highest level in decades. Markets treated the hike as cautious and overdue, not threatening. There’s little belief that Japan can tighten, given its debt load and position in global markets. Again, no surprise, no drama.
Crypto basically followed the same script. The bull case isn’t broken, though. It just looks like it’s not in a hurry. And the market is reminding everyone once again that coin prices don’t just move because we want them to. Sometimes it goes sideways. Sometimes it pulls back.
The game is the game!
Ripple’s USD (RLUSD) Now Among the Top 5 Stablecoins
Ripple’s USD-backed stablecoin RLUSD has quietly climbed in the stablecoin market, crossing a $1 billion+ market capitalisation and becoming one of the top five USD-pegged stablecoins globally just one year after its launch.
Originally launched in late 2024 as a regulated, fiat-backed token designed for institutional and enterprise use, RLUSD is pegged 1:1 to the U.S. dollar and fully backed by reserves held in high-quality assets such as cash and short-term government instruments.
The milestone of hitting a roughly $1.26 billion market cap reflects steady adoption, particularly in institutional cash flow, payments infrastructure, and compliance-focused applications.
Support for RLUSD has also spread across major platforms and trading venues, enhancing liquidity and accessibility as adoption broadens. Is this a major challenger for Tether’s USDT and USDC?
Disclaimer: This content may cause extreme FOMO (Fear of Missing Out). Side effects of investing include sudden wealth (or, you know, the opposite 😢). Please do your own research (DYOR) or speak to your financial advisor before making any decisions.
