The crypto market is undergoing a major momentum shift. Bitcoin has reached new all-time highs, surging past the $118,000 mark, while altcoins are breaking above key resistance levels after months of consolidation. This wave of renewed optimism comes at a critical time for the industry, not just in terms of price action, but also regulation.
Next week marks “Crypto Week” in the US House of Representatives, where the Financial Services Committee will review and debate three pivotal bills that could shape the future of digital assets. Lawmakers will consider three major pieces of legislation: the CLARITY Act, the Anti-CBDC Surveillance State Act, and the GENIUS Act. These proposals are expected to bring much-needed clarity to the crypto space and could have wide-reaching implications for the industry.
The crypto market is entering a new bullish phase, powered by more than just rising prices. Legal clarity and growing institutional support in the United States are reinforcing investor confidence. After months of uncertainty, bulls are now celebrating a decisive momentum shift. US President Donald Trump’s administration recently passed a long-anticipated pro-crypto bill just ahead of the self-imposed July 4 deadline. Dubbed the “big, beautiful” bill by Trump, the legislation is widely expected to create a favorable environment for digital assets.
Together, these developments suggest that crypto is maturing. With strong technical setups, supportive macro tailwinds, and a historic week of US legislative progress ahead, digital assets are entering what could be the most pivotal phase of their adoption cycle to date.
The total crypto market cap has surged to $3.62 trillion, posting an 8.75% weekly gain and breaking out from a multi-week consolidation range. This latest candle reflects strong bullish momentum, closing well above the previous rejection area around $3.3 trillion. The breakout is supported by a significant spike in trading volume, suggesting renewed investor interest and broader participation across the crypto space.
From a technical standpoint, the chart confirms a series of higher lows since the start of 2024, marking a healthy uptrend. The 50-week and 100-week moving averages (at $2.84T and $2.33T, respectively) are both sloping upward and well below the current price, reinforcing long-term strength. Importantly, the total market cap has now come within striking distance of its historical all-time high of $3.8 trillion.
If this momentum sustains, a full retest and potential breakout above the ATH would mark a new phase of the bull cycle. Altcoins are showing signs of awakening, and Bitcoin dominance may begin to wane as capital rotates into higher-beta assets. The macro environment—with easing inflation fears and growing regulatory clarity—adds further fuel to this rally. A weekly close above $3.65T would confirm this bullish shift.
Featured image from Dall-E, chart from TradingView
