Crypto market surges past $4 trillion following US Congress passes GENIUS Act regulating stablecoins

Key highlights

• On Friday, Bitcoin remained volatile while altcoins surged following a significant regulatory victory for the crypto industry in the U.S., coupled with reports that 401(k) plans may soon start allowing crypto investments.
• Cryptocurrency analysts expect the bills could provide some much-needed clarity to the digital asset industry.
• The U.S. Securities and Exchange Commission (SEC) is reportedly exploring the implementation of new regulatory exemption provisions to promote asset tokenization.
• XRP's market capitalization has exceeded $200 billion, with analysts now anticipating it could surpass $250 billion by the end of the year.
• TradingView reported today that Bitcoin dominance declined by 4.8 percentage points over a week to 61.67%. Meanwhile, the total crypto market cap grew by 4.43%, with the market cap excluding Bitcoin (TOTAL2) rising by 13.19%. Additionally, the market cap excluding both Bitcoin and Ethereum (TOTAL3) increased by 10%, indicating robust growth in other cryptocurrencies.

Technical analysis perspective

Bitcoin /US Dollar

• BTC penetrated May 22 high at 112,000 on July 10, 2025.
• Bitcoin recorded a new all-time high on July 14 at 123,231.07.
• Technically, a retest of the recent high at 112 k is possible before BTC continues the rally in the coming weeks to months.
• A break below 116K would provide an early signal that a dip to 112 K is on the way.
• In the meanwhile, a contracting range between 122k to 116 k is the name of the game. A breakout either side would lead the direction.

Ethereum /US Dollar

• ETH broke above a rectangle like consolidation pattern penetrated on July 10, 2025, at 2850.
• Prices moved higher in a parabolic fashion, posting 3677.40 high.
• ETH is challenging 3700 and 3750 obstacles on daily chart.
• As long as 3700/3750 contains rallies, a dip to 3280 – 3220 support is at hand.
• A sustained breakout above 3750 would pave the way for an additional rally to 4100 all-time high.

XRP/US Dollar

• XRP pushed above a falling trendline 1 obstacle on July 09.
• Prices are challenging a rising trendline 2 obstructing around 3.65 to 3.55 area.
• Below this resistance zone a gradual dip from 3.30 to 3.25 is likely.

Solana/US Dollar

• SOL is hovering close to 187 – 184 resistance regions.
• A dip to 174 with additional room to 162 is on the way below 187 – 184 obstacles.
• A sustained break above 187 would target 200 and 208 regions.

Word of wisdom

“Two things seem pretty clear to me: first, no one can consistently buy at the low or sell at the high (except liars, as Bernard Baruch said), and second, lowest average cost wins by Bill Miller.”