The cryptocurrency market has experienced significant volatility in the past week, with the total capitalization settling at around $2.5 trillion, up 3.5%. Bitcoin's price fluctuated between $55K and $58K, influenced by various factors including the US Bureau of Labor Statistics' release of June's Consumer Price Index and the sell-off of BTC by the German state.

Despite the volatility, the market outlook remains positive. The selling pressure from Germany is expected to decrease, which could lead to market recovery. Altcoins also experienced similar volatility, with XRP and BNB seeing increases of 9.1% and 8% respectively.

In other news, former US President Donald Trump is set to appear at a Bitcoin conference, and MicroStrategy, a major corporate holder of Bitcoin, announced a 10:1 stock split.

Market Cap: $2.46T | 24H Vol: $71B | BTC Dominance: 50.9%

BTC: $58,022 (+2.6%) | ETH: $3,125 (+4.6%) | BNB: $532 (+8%)

This week's notable headlines include the Illinois Court's confirmation that Bitcoin and Ethereum are commodities, Ethereum hitting new records with 47.36 million ETH staked in the ETH2 Beacon deposit contract, and the SEC dropping its investigation into Paxos for the BUSD stablecoin.

The market is expected to continue its recovery, promising exciting times ahead for the cryptocurrency industry.