empty
10.06.2025 10:12 AM
Bitcoin Resumes Growth — And There Are Reasons Behind It

Bitcoin has resumed its upward movement, pulling other cryptocurrency assets along with it. Today's rise during the Asian session clearly points to a breakout of several major technical resistance levels across a number of instruments, triggering a wave of liquidations and a strong rally in the cryptocurrency market.

This image is no longer relevant

Positive sentiment among traders and investors is also being driven by news that the U.S. Senate is preparing to vote on the GENIUS stablecoin bill, which could take place this Wednesday. This bill is expected to provide regulatory clarity for stablecoins — a critically important step for their broad adoption and integration into the financial system. Regulatory uncertainty has long hampered the stablecoin market, as institutional investors have been wary of unforeseen legal risks. If passed, the bill could open new opportunities for the use of stablecoins in areas ranging from international payments to decentralized finance. A regulated and stable environment would attract more users and capital to the stablecoin market, which in turn would benefit the broader crypto industry. Increased transparency and investor protection would also boost confidence in stablecoins as a reliable means of exchange and store of value.

Furthermore, the passage of the GENIUS bill could set a precedent for other countries seeking to establish a legal framework for cryptocurrency regulation. Clear and thoughtful regulation is essential for encouraging innovation and preventing abuse in the crypto market. Therefore, the U.S. Senate's decision is significant not only for the American crypto sector but for the global industry as well. Traders and investors are closely watching developments, hoping for a favorable outcome that could open new horizons for stablecoins and the broader crypto market.

According to media reports, Senate Majority Whip John Thune has laid the groundwork for a key procedural vote on the GENIUS Act this Wednesday. A post on X (formerly Twitter) from the Senate Republican office stated that on Monday, Thune filed a motion to close debate on the main bill — the U.S. Stablecoin Guidance and National Innovation Act — and its bipartisan amendment.

Last month, lawmakers voted 66-32 to end debate — a procedural step that cleared the way for further discussions on the bipartisan stablecoin bill. Crypto industry leaders hailed the vote as a historic victory that could help solidify the dominance of the U.S. dollar.

The upcoming vote requires at least 60 votes to advance the bill, potentially paving the way for its swift passage. If adopted, the bill would mandate that stablecoins be fully backed by U.S. dollars or similarly highly liquid assets. It would also require annual audits for issuers with a market capitalization exceeding $50 billion.

Trading Recommendations:

This image is no longer relevant

Bitcoin (BTC):Buyers are now aiming to reclaim the $109,800 level, which opens a direct path to $110,500, and from there it's a short distance to $111,100. The ultimate target is the $111,900 high; a breakout above it would confirm a strengthening bullish trend. In case of a pullback, buyers are expected around $109,100. A drop below this level could quickly push BTC down to the $108,400 zone, with the final target being around $107,700.

This image is no longer relevant

Ethereum (ETH):Clear consolidation above the $2,684 level opens the way toward $2,705. The ultimate target is the $2,731 high; a breakout above that level would signal the formation of a bullish trend. In the event of a decline, buyers are expected around $2,653. A drop below this support may quickly push ETH down to the $2,630 area, with a further downside target at $2,608.

Chart Indicators:

  • Red levels: Support and resistance zones where price may either stall or accelerate.
  • Green line: 50-day moving average.
  • Blue line: 100-day moving average.
  • Light green line: 200-day moving average.

Crossing or testing moving averages typically either halts market movement or triggers momentum in that direction.

Jakub Novak,
Analytical expert of InstaForex
© 2007-2025
Summary
Urgency
Analytic
Pavel Vlasov
Start trade
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST

Recommended Stories

Trading Recommendations for the Cryptocurrency Market on July 18

Bitcoin returned to the $121,000 mark today, but failed to hold above it. Ethereum broke through the $3,600 level. In addition to the fact that all necessary cryptocurrency-related bills passed

Miroslaw Bawulski 08:42 2025-07-18 UTC+2

Solana has the potential to continue its rally to the next resistance level on Friday, July 18, 2025.

Solana – Friday, July 18, 2025. With a Golden Cross condition between the EMA (50) and the EMA (200) as well as the RSI (14) in the neutral-bullish area, there

Arief Makmur 07:02 2025-07-18 UTC+2

Bitcoin Forecast for July 18, 2025

Yesterday, Bitcoin tested the support level of 117,730 with a long lower shadow on the daily candle and closed the day above the inner line of the green price channel

Laurie Bailey 04:46 2025-07-18 UTC+2

Trading Recommendations for the Cryptocurrency Market on July 17

Bitcoin attempted several times yesterday to break above the 120,000 level but failed to succeed. Ethereum, on the other hand, completed its task and easily jumped from 3,100 to 3,300

Miroslaw Bawulski 09:05 2025-07-17 UTC+2

Some market makers fix profits

Meanwhile, as Bitcoin rebounded to the $119,000 level, some major players in the cryptocurrency market were quick to take profits after recent large price movements. Investment firm Ark Invest

Jakub Novak 13:22 2025-07-16 UTC+2

Trading Recommendations for the Cryptocurrency Market on July 16

Yesterday, Bitcoin experienced a modest correction but overall remained above the $117,000 mark, clearly indicating that its bullish prospects remain intact — it just needs a catalyst. Ethereum climbed back

Miroslaw Bawulski 09:51 2025-07-16 UTC+2

Bitcoin in limbo

Bitcoin buyers appear to be somewhat confused, as the FOMO currently dominating the market could backfire on those trying to jump on the "last train", — which, in reality

Jakub Novak 15:34 2025-07-15 UTC+2

Crypto week

While Bitcoin and Ethereum are undergoing a correction and doing so rather effectively, lawmakers and cryptocurrency advocates in the United States are preparing for one of the most important weeks

Jakub Novak 11:19 2025-07-15 UTC+2

Trading Recommendations for the Cryptocurrency Market on July 15

Bitcoin has dropped from its all-time high of $123,000 and is currently trading at $117,000, which only increases its appeal. Ethereum has also fallen back below the 3,000-dollar level, after

Miroslaw Bawulski 09:31 2025-07-15 UTC+2

Bitcoin outpaces Amazon in terms of market cap

Bitcoin has reached a new all-time high near $122,000, surpassing Amazon in market capitalization. This event is undoubtedly a landmark moment in the history of cryptocurrencies and traditional finance

Jakub Novak 10:52 2025-07-14 UTC+2
Can't speak right now?
Ask your question in the chat.
Widget callback
 

Dear visitor,

Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.

If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.

Why does your IP address show your location as the USA?

  • - you are using a VPN provided by a hosting company based in the United States;
  • - your IP does not have proper WHOIS records;
  • - an error occurred in the WHOIS geolocation database.

Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaForex anyway.

We are sorry for any inconvenience caused by this message.