The global cryptocurrency market capitalisation surged to a record USD 3.92 trillion last week, following major regulatory developments in the United States. The House of Representatives passed three landmark crypto bills during what has been termed “Crypto Week,” signalling a turning point for the industry.
Late Friday, US President Donald Trump signed the GENIUS Act into law, establishing a formal regulatory framework for stablecoins. The legislation marks a significant milestone for crypto advocates seeking legitimacy and clarity in the sector.
Altcoins were the primary drivers of the surge, adding USD 200 billion to their market value and increasing their dominance over Bitcoin by 6%. This shift has renewed speculation around a potential alt-season, with investors showing growing interest in alternatives to the leading cryptocurrency.
Bitcoin rose 1% on Monday, trading at just over USD 119,400, but remains more than 3% below its record high of USD 123,153. According to economies.com, the coin’s stability above the USD 116,500 support level is helping sustain short-term bullish momentum. Positive signals on the Relative Strength Index (RSI) also suggest potential for further gains. However, analysts noted continued resistance at the 50-day EMA, which must be breached for stronger upward movement.
Ethereum also saw renewed interest, with spot ETFs attracting a record USD 2.18 billion in institutional inflows last week. Wednesday alone accounted for USD 726.6 million, indicating rising confidence in the second-largest cryptoasset. Ether was last trading at USD 3,783.2—its highest level since December 2024.
Digital asset funds overall recorded an all-time weekly high of USD 4.39 billion in inflows, according to CoinShares.
