Global crypto assets reach all time high as US Trump signs off on GENIUS Act
US President Donald Trump signed into law the GENIUS Act late on Friday, regulating stablecoins in the US. This marked a huge win for crypto supporters, who have for long lobbied for a regulatory framework to gain greater legitimacy for the industry.
The surge was driven largely by altcoins, which added an impressive $200 billion to their market capitalisation and saw their dominance relative to Bitcoin increase by 6 per cent. This shift has raised speculation that a new alt-season may be underway, as investor sentiment continues to strengthen beyond the traditional market leader.
Bitcoin, the world's biggest crypotcurrency, climbed about 1 per cent on Monday, though it remains more than 3 per cent away from its all-time high of $123,153 hit last week.
The price of Bitcoin rose in its last intraday trading, supported by the stability of the critical support at $116,500, data from economies.com showed, providing bullish momentum that assisted it to achieve limited gains, this positive trading amid the main bullish trend dominance on the short-term basis, with the continuation of its trading alongside a supportive bias line, besides the beginning of forming a positive overlapping signals on the (RSI), reinforcing the chances for the continuation of the rise on the near-term basis.
'Despite these bullish signals, the price remains facing technical pressures that come from its stability below EMA50, forming an obstacle against the quick recovery attempts, and weakens the ability to target higher resistance levels without breaching this level,' economies.com analysts wrote.
One of the most notable developments was the record-breaking inflows into Ethereum spot ETFs, which saw a total of $2.18 billion in institutional investments over the week. The single biggest day was Wednesday, which recorded $726.6 million in inflows – a clear indicator of intensifying institutional interest in the second-largest cryptoasset. Ether was last trading at $3,783.2, hovering near its highest level since December 2024, according to Reuters data.
Digital asset funds witnessed an all-time record inflow of $4.39 billion last week, according to data from crypto asset manager CoinShares.
'The passing of these bills could mark a turning point for crypto regulation and investor confidence, especially in altcoins with ties to the US market,' said Simon Peters, crypto market analyst at eToro. 'As Bitcoin dominance declines, investors are beginning to explore opportunities further along the risk curve.'
With legislative clarity improving and institutional interest rising, the crypto market appears to be entering a new phase of growth and diversification.
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