The recent developments during the U.S. “Crypto Week” have proven to be a pivotal moment for the global crypto market. Initially, key legislation related to stablecoins and digital assets—such as the GENIUS Act—faced procedural delays due to opposition from some Republican hardliners in Congress. However, former President Donald Trump has reportedly stepped in to mediate, raising expectations that these bills will soon return to the floor for a vote.
In response to these regulatory developments, the market has turned sharply bullish. Bitcoin surged past the $120,000 mark for the first time on July 14 and is now trading steadily around $122K–$123K, marking a historic all-time high. This move appears to be driven by a combination of institutional inflows and optimism surrounding clearer U.S. crypto regulation.
Altcoins have followed suit. Ethereum and other majors are showing signs of an early-stage altseason. BONK jumped over 18% in recent days, reclaiming previous highs. TRON surpassed 320 million active accounts, signaling robust network activity. XRP attracted nearly $3.7 billion in institutional inflows and is now gaining momentum toward the $100 level. Meanwhile, sub-$1 tokens—commonly referred to as “penny coins”—are seeing renewed attention as speculative bets for the next explosive rally.
On the institutional front, Cantor Fitzgerald is reportedly preparing a $4 billion SPAC deal to acquire BTC from Blockstream’s Adam Back. At the same time, rumors of a U.S. strategic Bitcoin reserve policy are bolstering investor sentiment.
This confluence of political, institutional, and technical momentum suggests the market is entering a new phase—not just a price rally, but a structural shift in crypto’s mainstream integration.
