The crypto market took a deep breath this Wednesday — and it’s all thanks to Donald Trump. The President announced that the long-awaited vote on two major cryptocurrency bills is expected to happen today, despite Republicans having blocked progress just a day earlier.
🔹 Bitcoin and Ethereum Bounce Back
After a turbulent Tuesday that saw Bitcoin’s price fluctuate heavily, the market has calmed. Bitcoin climbed back to nearly $119,115, a 2% increase. Ethereum gained even more — nearly 3% — now trading above $3,150.
Crypto-related stocks also responded positively. Coinbase and Circle recovered after Tuesday’s drop, while smaller players like BitMine, SharpLink, and Bit Digital posted double-digit gains.
🔹 Two Bills That Could Reshape the Market
At the heart of this optimism are two proposals — the GENIUS Act and the CLARITY Act. The GENIUS Act has already passed the Senate and focuses mainly on stablecoins, including a proposal to ban interest payouts to users. If passed, it would further strengthen Ethereum’s importance, as most stablecoin applications are built on its network.
The CLARITY Act deals with broader crypto market structure. It hasn't yet been voted on, but the market expects it to move forward today. Major players like Coinbase are pushing for both bills to be passed together.
🔹 Delay Caused Turbulence, But Hope Remains
According to analyst Owen Lau, investors overreacted negatively on Tuesday. He believes both pieces of legislation will eventually pass — even if separately. Passing them together, however, would speed up the process and give markets more certainty.
🔹 Fundamentals Lag Behind, But Capital Keeps Flowing
While prices are climbing, network activity doesn’t show the same enthusiasm. Blockchain metrics remain relatively flat, and fee revenues have seen little change. Still, investor appetite is strong — on Tuesday alone, over $400 million flowed into Bitcoin ETFs, with another $192 million going into Ethereum funds.
Earlier this week, over $360 million worth of leveraged long positions on Bitcoin were liquidated, briefly dragging the price down. But after Trump’s post, the market quickly rebounded.
#bitcoin , #Ethereum , #CryptoMarket , #Stablecoins , #CryptoInvesting
Stay one step ahead – follow our profile and stay informed about everything important in the world of cryptocurrencies!
Notice:
,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“
