Crypto Assets daily settlement of 176,880 traders! President Trump plans to sign 4 key encryption documents.

Bitcoin (BTC) retraced during the European early session today (18th), currently reported at around $118,900, having once returned to the $120,000 level during the Asian session. In the past 24 hours, Bitcoin and the Crypto Assets market liquidated 176,880 traders, mainly short positions. The global Crypto Assets market reached a new high on Friday, with market capitalization surpassing $4 trillion.

Previously, the U.S. House of Representatives passed the "GENIUS Act", "CLARITY Act", and "Anti-CBDC Act" related to Crypto Assets on Thursday, which boosted the optimistic sentiment in the digital asset market and enhanced investor confidence.

176,880 traders were liquidated, with a total value exceeding 800 million dollars

The general rise in prices of major Crypto Assets has triggered a wave of liquidations in the cryptocurrency market. According to the CoinGlass liquidation map, a total of 176,880 traders have been liquidated in the past 24 hours, with a total liquidation value exceeding 800 million USD, of which 63% were short positions.

(Source: Coinglass)

Data shows that the global Crypto Assets market reached a historic high of $4.02 trillion on Friday. Major Crypto Assets like Bitcoin hit a historic high of $123,218 on Monday, Ethereum (ETH) surpassed $3,600, and Ripple (XRP) reached a historic high of $3.66 on Friday.

Why is the Crypto Assets market rising?

The recent surge in the crypto assets market has been driven by various factors, including the growing demand from institutions and enterprises, regulatory clarity, and broader adoption.

According to SoSoValue's data, as of Thursday, Bitcoin spot exchange-traded funds (ETFs) have recorded a fund inflow of $2.02 billion so far this week. The total inflow for July was $5.41 billion, marking four consecutive months of inflows since April. The fund inflow for Ethereum has also surged, recording $1.78 billion this week, reaching the highest level since the launch of the spot ETFs.

(Source: SoSoValue)

The United States approved several cryptocurrency-related bills on Thursday, further supporting the rise in gold prices. The U.S. House of Representatives passed three pieces of cryptocurrency legislation, including the GENIUS Act, the CLARITY Act, and the Anti-CBDC Act. These three cryptocurrency bills have now been submitted to President Trump for final signature.

These three bills aim to establish a clear regulatory framework for digital assets in the United States, designed to enhance investor confidence, improve regulatory clarity, and promote wider adoption.

In addition, the Financial Times reported on Thursday that President Trump is preparing to sign an executive order to pave the way for 401(k) accounts to invest in Crypto Assets.

If approved, the order will allow for the inclusion of digital assets, gold and other precious metals, and private loans in retirement plans as alternatives to traditional stock and bond investment portfolios.