Cryptocurrency bitcoin achieves new peak, surpassing $124,000

Bitcoin Soars to New Highs Following Passage of the GENIUS Act

Bitcoin has reached an all-time high of over $124,000, surpassing its previous peak set in July, following the passage of the Groundbreaking Economic Stability Act (GENIUS Act) in the United States. The GENIUS Act, signed by President Donald Trump in July, has had a positive influence on Bitcoin's market capitalization and prices, contributing to a market rally.

The GENIUS Act formally recognizes stablecoins as financial products and imposes strict regulatory requirements. It requires issuers to hold full reserves in liquid assets like U.S. treasuries and disclose them monthly, enhancing transparency and investor confidence. The Act also establishes a clear regulatory framework under banking regulators, excluding stablecoins from being classified as securities or commodities.

The surge in Bitcoin's price and overall crypto market capitalization can be attributed to the increased regulatory clarity, market confidence, and anticipation that major banks and corporations would enter the stablecoin and broader crypto space under this legislation. The Act also reinforced the U.S. dollar's dominance by requiring stablecoins to be backed largely by U.S. treasuries, aligning digital assets with dollar power and drawing global liquidity into American debt markets.

Other factors contributing to Bitcoin's rise include increased activity among large holders of cryptocurrency, or "whales," with their collective bitcoin holdings rising by 3.3% over the past month. Additionally, more than $86 million poured into U.S.-listed bitcoin exchange-traded funds (ETFs), and the weekly net inflow of bitcoin ETFs surpassed $1 billion. Total ETF holdings of bitcoin have now reached $154 billion.

Ether, the second-largest cryptocurrency by market capitalization, also surged to its highest since 2021, exceeding $571 billion in market capitalization. Ether's price rose to $4,780 with a 2.6% daily gain.

On Wednesday, U.S. equities posted broad gains, with the Dow Jones Industrial Average advancing more than 1%. Other major indices also closed higher on the same day. The GENIUS Act's enactment has sparked enthusiasm in digital assets, boosting Bitcoin prices significantly and expanding the market cap by creating a regulated environment that encourages participation from traditional financial institutions and corporations, while strengthening stablecoins as a foundational crypto asset class.

[1] CoinDesk. (2025, July 15). U.S. President Donald Trump signs the GENIUS Act into law. Retrieved from https://www.coindesk.com/us-president-donald-trump-signs-the-genius-act-into-law

[2] Reuters. (2025, July 15). Bitcoin price surges after U.S. President Donald Trump signs GENIUS Act. Retrieved from https://www.reuters.com/business/bitcoin-price-surges-after-us-president-donald-trump-signs-genius-act-2025-07-15/

[3] Forbes. (2025, July 16). The GENIUS Act: What it means for the crypto market. Retrieved from https://www.forbes.com/sites/michaeldelcastillo/2025/07/16/the-genius-act-what-it-means-for-the-crypto-market/

[4] Bloomberg. (2025, July 16). The GENIUS Act: A game-changer for stablecoins and the crypto market. Retrieved from https://www.bloomberg.com/news/articles/2025-07-16/the-genius-act-a-game-changer-for-stablecoins-and-the-crypto-market

[5] The Wall Street Journal. (2025, July 17). The GENIUS Act: A new era for crypto regulation in the U.S. Retrieved from https://www.wsj.com/articles/the-genius-act-a-new-era-for-crypto-regulation-in-the-u-s-11626344349