- Bitcoin, Ethereum, and Dogecoin prices are rising due to the GENIUS Act’s progress in the U.S. Senate and increased dip-buying by spot investors.
- This surge has pushed the crypto market capitalization to $3.48 trillion, signaling growing confidence and potential for further gains.
Bitcoin, Ethereum, and Dogecoin are showing strong price action today, adding fresh energy to the crypto market. The total market capitalization has climbed to $3.48 trillion, up 1.3% in the past 24 hours. Two key factors are behind this bullish trend: renewed investor appetite for Bitcoin dips and the forward momentum of the GENIUS stablecoin legislation.
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GENIUS Act Vote Sparks Optimism Across Crypto
The Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act has cleared a critical hurdle in the U.S. Senate. The bill passed a procedural vote with a 66-32 margin, a strong indicator that it’s on its way to full Senate approval. For investors, this signals a step toward regulatory clarity, especially around stablecoins — a sector closely tied to market liquidity and institutional involvement.
This development appears to have ignited a wave of confidence, especially among institutional players who have historically waited for clear legislative signals before entering or expanding in the market.
Spot Bitcoin Investors Are Buying the Dip, Driving Market Momentum
Blockchain data suggests a second, equally influential factor behind the surge: spot investors — including both retail and major institutions — are buying Bitcoin during price dips. Unlike perpetual traders whose positions tend to be short-lived, spot investors show longer-term commitment.
Indicators from CoinGlass reveal that Spot Cumulative Volume Delta (CVD) is trending upward, while perpetual CVD is moving in the opposite direction. This divergence implies real-time accumulation by committed holders, reinforcing the recent price action.
Price Snapshot and What’s Ahead
- Bitcoin (BTC) is trading at $105,328, climbing from a local low of $104,480. Key resistance lies at $110K, $115K, and beyond.
- Ethereum (ETH) has seen a modest pullback to $2,542 but maintains bullish support levels.
- Dogecoin (DOGE) is trading at $0.224, down slightly from an intraday high of $0.230.
If Bitcoin revisits its $109K all-time high, it could trigger a wave of FOMO-driven retail interest and set the stage for a broader altcoin rally — potentially igniting the next altseason.
With investor behavior shifting and legislation turning favorable, the crypto market looks poised for further upside in the days ahead.
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