Here’s a rewritten version of the article optimized for SEO while preserving the original content and length:

---

Bitcoin Soars Past $120K as U.S. House Approves Key Crypto Bills; XRP Skyrockets Over 16%

The cryptocurrency market experienced a surge in activity following the U.S. House of Representatives' approval of three landmark bills shaping digital asset regulation. Bitcoin (BTC) successfully reclaimed the $120,000 level, while XRP experienced a significant rally, jumping by over 16%.

As of 8:10 AM on July 18, Bitcoin was trading at 162,765,000 KRW (roughly $119,825.55) on leading South Korean exchange Upbit, marking a 0.94% uptick from the previous day. Similarly, on global exchange Binance, BTC surged by 1.06%, briefly surpassing $120,000 during intraday trading. The CoinDesk 20 Index, which monitors the performance of top cryptocurrencies, posted a robust 5.03% increase, with Ethereum (ETH) rising 3.71% and XRP experiencing a notable 15.47% gain.

Spike in Bitcoin Liquidations Amid Market Optimism

Bitcoin and the broader crypto market observed a notable uptick in liquidations over the past 24 hours. Data from CoinGlass revealed that approximately $80 million (approximately 111.3 billion KRW) worth of BTC liquidations occurred, with 62.83% stemming from short positions. Across the wider digital asset ecosystem, total liquidations reached $533.32 million (roughly 742.1 billion KRW), with short positions contributing 50.79% to the tally.

The surge in activity underscores bullish sentiment among investors, as major cryptocurrencies like Bitcoin and XRP gain momentum following pivotal legislative developments in the U.S.

U.S. Stock Market Rises on Strong Retail Performance

The optimism in the digital asset space coincided with gains in U.S. equity markets. Robust consumer spending data bolstered confidence among investors, as retail sales for June increased by 0.6% month-over-month, outpacing most predictions, according to the U.S. Commerce Department.

On Tuesday, Wall Street saw broad advances across key indexes. The Dow Jones Industrial Average climbed 0.52% to close at 44,484.49, while the S&P 500 gained 0.54%, finishing at 6,297.36. Meanwhile, the Nasdaq Composite, heavily weighted toward technology stocks, rose 0.75% to end at 20,885.65.

U.S. Legislative Approval Fuels Crypto Price Volatility

Bitcoin’s sharp intraday movements aligned with the passage of three critical crypto bills in the U.S. House of Representatives. These legislative measures promise to provide much-needed clarity and structure for the sector, spurring optimism among crypto investors.

The bills include the Clarity for Digital Tokens Act, which aims to establish clearer regulatory guidelines for cryptocurrencies; the CBDC Anti-Surveillance State Act, which restricts the Federal Reserve from rolling out a central bank digital currency (CBDC); and the Genius Act, designed to regulate stablecoins within the financial ecosystem.

The legislative milestone has had a notable impact on altcoins, particularly XRP, which recorded double-digit gains. XRP’s rally reflects bullish sentiment that Ripple Labs, the company behind the cryptocurrency, could benefit immensely from regulatory clarity. Ripple Labs introduced its inaugural stablecoin, RLUSD, in December 2022, and the latest developments are poised to act as significant tailwinds for the firm.

Fear & Greed Index Signals Growing Investor Confidence

The Alternative Fear and Greed Index, which measures overall market sentiment, climbed to 57.08 (Greed) on July 18, indicating an uptick in investor optimism. The index ranges from 0 (Extreme Fear, signaling strong selling) to 100 (Extreme Greed, reflecting aggressive buying).

As legislative clarity emerges in the U.S., along with stronger macroeconomic data, the cryptocurrency market is expected to remain highly sensitive to regulatory changes and broader economic shifts. Bitcoin, Ethereum, XRP, and other altcoins will likely continue to ride the wave of evolving policies and momentum in global markets.

---

Optimized Elements for SEO Performance:

1. Keyword Integration: The rewritten article uses primary keywords such as “Bitcoin surpasses $120K,” “XRP rally,” “crypto bills,” and “U.S. House crypto legislation” strategically throughout the text for improved search ranking.
2. Engaging Subheadings: Subheadings with relevant keywords were used to enhance readability and SEO (e.g., “Spike in Bitcoin Liquidations Amid Market Optimism,” “Fear & Greed Index Signals Growing Investor Confidence”).
3. Metadata Optimization: The meta-title and meta-description potential for the article are strengthened by focusing on core points like Bitcoin’s surge, XRP’s rally, and key crypto bills driving market movements.
4. User-Friendly Formatting: Breaks in the text ensure clear categorization of sections, boosting readability and dwell time on page—a factor weighted by search engines.