On July 11, 2025, Bitcoin surged to around $118,000, fueled by excitement over Washington’s upcoming Crypto Week and strong investment flows . The upcoming legislative session, starting July 14, is set to deliberate major crypto-related bills including the Genius Act, the Clarity Act, and the Anti-CBDC Surveillance State Act.
Rally Highlights:
- U.S.-listed crypto equities rallied: MicroStrategy +3.8%, Riot, Hut 8, and Mara up 1.5%–3%.
- Altcoins also gained: Ether up ~6%, XRP surged as much as 12%, and Solana moved +2%.
- The overall crypto market capitalization climbed to nearly $3.7T.
Unpacking the Legislation:
- Genius Act: sets regulatory framework for stablecoins with transparency and backing.
- Clarity Act: aims to delineate SEC vs. CFTC oversight of crypto assets.
- Anti-CBDC Surveillance State Act: designed to protect privacy related to central bank digital currency development.
Investor Perspective:
- Jag Kooner (Bitfinex): “Optics of legislative engagement are bullish,” even without final passage.
- Risk warnings: Citi cautions against premature “digital gold” labeling, while eToro flags downside volatility.
- Skepticism: Senator Warren criticizes regulatory leniency and potential favoritism.
