Cryptocurrencies Surge After Passage of Key U.S. Legislation; Bitcoin Nears Record High
The alignment of legislative, institutional, and retail support suggests we could be entering a new era of mainstream crypto adoption.
Quick overview
- Bitcoin started the week with a 0.3% gain, consolidating after its all-time high on July 14.
- Ethereum surged 2.4% to $3,819, marking a 24.9% weekly increase, driven by institutional interest and the BlackRock ETH ETF.
- The U.S. Congress passed the GENIUS Act, the first comprehensive legislation regulating stablecoins, with additional bills on the way.
- Market analysts suggest we may be entering a new era of mainstream crypto adoption due to increasing institutional support and regulatory clarity.
Bitcoin began the week on a positive note, posting a mild 0.3% gain over the past 24 hours, consolidating after a brief pullback that followed its all-time high reached on July 14.
Meanwhile, Ethereum (ETH) and leading altcoins extended their rallies, with some notching weekly gains of nearly 25%.
As of Monday morning, BTC trades at approximately $118,935, according to Binance. Ethereum rose 2.4% to $3,819, marking its highest level since mid-December 2024 and up 24.9% for the week.
Institutional Flows Favor Ethereum
Ethereum continues to attract institutional capital, largely driven by the BlackRock ETH ETF, which has seen consistent inflows. Analysts note a marked accumulation trend and growing confidence in ETH, particularly as stablecoin adoption rises—likely fueling demand for Ethereum’s network.
Altcoins also joined the rally:
- Ripple (XRP): +2.8% to $3.59 (+19.5% weekly)
- BNB: +4.1% daily to $775.90
- Solana (SOL): +6.0% daily and +14.8% for the week
Regulatory Breakthroughs in the U.S.
Last week, the U.S. Congress passed the GENIUS Act, becoming the first comprehensive legislation regulating stablecoins. Two additional bills—CLARITY and the Anti-CBDC Surveillance Act—are also on the horizon, both seen as pivotal for future crypto valuations.
The CLARITY Act aims to define legal frameworks for digital commodities, DeFi protocols, and token classification.
The Anti-CBDC Act seeks to block the Federal Reserve from issuing a central bank digital currency (CBDC), citing concerns over privacy and surveillance.
Trump Administration Backs Crypto Expansion
In his second term, President Donald Trump has emerged as an outspoken advocate for Bitcoin. Reports indicate he is preparing an executive order that would allow $9 billion from U.S. retirement savings to be invested in alternative assets, including crypto, gold, and private equity.
In addition, corporate giants like Walmart and Amazon are reportedly exploring the issuance of their own stablecoins, aiming to lower transaction costs and improve payment efficiency.
Outlook: A Defining Moment for Crypto?
Market strategists call this a potential “watershed moment” for the crypto industry. With growing institutional support, regulatory clarity on the horizon, and positive legislative momentum, investor confidence appears to be rebounding.
The alignment of legislative, institutional, and retail support suggests we could be entering a new era of mainstream crypto adoption.
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