The cryptocurrency market is demonstrating positive trends, with Bitcoin and other tokens on the rise. This may signal the start of a new bullish cycle.
Overall Trends in the Cryptocurrency Market
Today, Bitcoin ([BTC](https://crypto.news/price/bitcoin/)) surged above the key resistance level of $110,000 for the first time in nearly a month. Most altcoins also showed notable gains, including Fartcoin ([FARTCOIN](https://crypto.news/price/fartcoin/)), Dogwifhat ([WIF](https://crypto.news/price/dogwifhat/)), and Celestia ([TIA](https://crypto.news/price/celestia/)). As a result, the 24-hour trading volume across centralized and decentralized exchanges rose by over 30% to $133 billion, while the total market capitalization of all crypto assets increased by 3% to $3.4 trillion.
Optimism Due to New Legislation
A likely catalyst for the rally is the renewed optimism that the House of Representatives will pass Donald Trump's [Big Beautiful Bill](https://crypto.news/senator-lummis-pushes-for-crypto-friendly-amendments-in-trumps-big-beautiful-bill/). The Senate approved its version earlier this week. The bill is seen as positive for Bitcoin, viewed increasingly as a safe-haven asset. With the bill expected to significantly boost U.S. debt, many investors may turn to Bitcoin for protection.
Increased Institutional Investment and Regulatory Clarity
Cryptocurrencies are also benefiting from growing institutional demand. Bitcoin and Ethereum ETFs continue to attract inflows from U.S. investors. Bitcoin ETFs are nearing $50 billion in cumulative inflows, while Ethereum ETFs exceed $4.25 billion ([Source](https://sosovalue.com/assets/etf/us-eth-spot)). More companies are also adding Bitcoin and other cryptocurrencies to their balance sheets, which is another sign of escalating institutional support. Furthermore, the GENIUS Act is expected to become law in the United States, which may enhance interest from both institutional and retail investors.
Overall, current trends in the cryptocurrency market indicate a possible start of a new bullish phase. The increased interest from both institutional and retail investors, combined with anticipated legislative changes, creates a more positive outlook for the further growth of cryptocurrencies.
