The cryptocurrency market has been unusually calm lately, but this calm may not last much longer. A major event is on the horizon that could shake Bitcoin, Ethereum, and altcoins.
The US Congress is preparing for 'Crypto Week' from July 14 to 18, and the decisions made during this week could have a significant impact on the cryptocurrency market.
What's Happening in the Market Right Now?
Last week, the price of Bitcoin and altcoins barely moved. Bitcoin rose only 0.6%, Ethereum 2%, and most of the altcoin market remained stable. Some meme coins managed double-digit gains, but overall, it has been a slow and sideways market.
Historically, this type of price movement tends to happen before a major breakout, and all attention is now on what Congress will decide in the coming days.
Why Crypto Week is Important
During Crypto Week, US lawmakers will discuss and possibly pass several important bills related to cryptocurrency:
The Clarity Act: This bill will finally create clear rules on how cryptocurrency assets are traded, invested in, and regulated in the US.
The Stablecoin Act (Genius Act): Focused on regulating dollar-backed stablecoins, it has already passed the Senate and is expected to pass the House as well.
The Anti-CBDC Surveillance State Act: A bill aimed at blocking government-controlled digital currencies that could invade financial privacy.
While some bills, like the Stablecoin Act, are likely to move quickly, others like the Clarity Act, which deals with more complex areas such as DeFi, staking, and taxes on cryptocurrencies, may take longer to finalize.
Why This Could Trigger a Pump in the Market
Along with these bills, the US government recently approved a massive increase in the debt ceiling of $5 trillion. This measure means that more money can flood the financial system, which historically tends to benefit risk assets like cryptocurrencies.
Furthermore, cryptocurrency-friendly policies and clear rules can attract new institutional investors and bring fresh capital to Bitcoin, Ethereum, and altcoins.
The Great Moment for Ethereum is Coming
While Bitcoin has been rising for months, analysts say that Ethereum is about to have its turn. Big names like Bitwise predict that Ethereum ETFs and tokenized assets built on the Ethereum network could see massive growth in the second half of 2025.