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If you’re diving into the world of crypto and bitcoin, this week could be a game-changer. The market is buzzing with momentum, and there are several key developments that could push prices higher and ignite the much-anticipated altcoin season. Let’s break down what to watch for and why this could be one of the most exciting weeks in crypto in quite some time.
Bitcoin Approaching a New All-Time High
Bitcoin is currently hovering around $119,000 — right on the edge of breaking into the $120,000 territory. This marks a crucial moment as we stand at the cusp of a new leg up, potentially pushing Bitcoin anywhere between $130,000 and $150,000. Multiple charts and metrics support this bullish outlook, indicating strong momentum is building.
The market feels electric right now, reminiscent of the January rally when Bitcoin first started its climb and altcoins began to heat up. This momentum is a key driver for optimism across the crypto space.
Legislative Moves: Crypto-Friendly Acts Could Spark a Rally
One of the major catalysts this week is the potential movement of three important crypto-related bills in the House. These include:
- The Clarity Act: A broad crypto legislation aimed at bringing more regulatory clarity to the space.
- The Genius Bill: Focused on stablecoins, this bill already passed the Senate with flying colors and could see smooth passage in the House.
- The Anti-Stablecoin or Anti-CBDC Act: While details are less clear, this bill appears to target central bank digital currencies (CBDCs), potentially outlawing them.
Any favorable rulings or progress on these bills could be hugely positive for crypto, signaling government support and clearer rules. The market has been anticipating this kind of regulatory clarity for a long time, and now the House is set to take it up after completing a major bill.
These legislative developments could provide a significant boost to investor confidence and market activity.
CPI Report: Inflation Data Could Make or Break the Week
Tuesday will bring the latest Consumer Price Index (CPI) report measuring inflation for June — a data point that could sway markets dramatically. Despite ongoing tariffs, inflation hasn’t spiked as many feared, and recent reports have come in at or below expectations.
If this trend continues and the CPI comes in at or below forecasts, it could “blow up” the markets in a positive way. Investors might see it as a sign that tariffs aren’t driving up prices as much as expected, which could ease fears about inflation and boost risk assets like crypto.
“Tariffs are bringing in annualized trillions per year if it keeps on going, and we haven’t really seen any price hikes with price of goods,” said Tom Lee recently on CNBC. “If this continues, this is a big win.”
However, if inflation surprises to the upside, it could dampen enthusiasm. So this week’s CPI report is a key event to watch closely.
ETF Inflows and Demand Pressure: Why Prices Keep Rising
Last week saw one of the biggest ETF inflow weeks ever — $2.7 billion poured into Bitcoin and Ethereum ETFs alone. There were back-to-back days with $1 billion inflows, showing Wall Street’s growing appetite for crypto exposure.
This massive demand is sucking up supply and pushing prices higher. Some ask how the price can move if investors keep buying over-the-counter (OTC), but the answer lies in supply constraints. When demand exceeds what’s available OTC, prices rise. This dynamic has been observed repeatedly and explains why Bitcoin keeps ticking upward.
Adding to this, companies continue buying billions of dollars worth of crypto weekly, further fueling demand and driving prices.
Is Altcoin Season Finally Here?
After a period of Bitcoin dominance, altcoins are starting to show signs of life. Bitcoin’s dominance has ticked down slightly, and many altcoins have made impressive gains recently, sparking speculation that altcoin season might be kicking off.
Some key narratives driving altcoin interest include:
- XRP: Filed for a bank charter, which would regulate its new stablecoin RLUSD and position it as a strong contender in the US market. This development, along with ongoing legal wins, has boosted XRP’s outlook.
- Soul: Despite recent underperformance, Soul is expected to see renewed interest soon. It recently generated over $500 million in revenue from decentralized apps (DAPs) in the last month, surpassing even Ethereum in some metrics. This strong fundamental performance suggests whales could flip the narrative and drive prices higher.
- Ethereum: Continues to lead the DeFi and stablecoin narrative, which is fueling its comeback and potentially setting the stage for altcoin season.
Other big-cap projects like Cardano, Avalanche, and Hedera have also rallied after being oversold, supported by strong narratives and renewed investor interest.
Altcoin season would be confirmed if we see money flowing out of stablecoins — currently sitting at record highs around $140–150 billion for Tether alone, and over $200 billion including other USD-pegged coins. A flow of retail money back into altcoins would push Bitcoin dominance lower and signal a broad market rally.
Looking Ahead: A Week Full of Potential
All signs point to a fantastic week ahead. Bitcoin continues to push higher with no signs of weakness, altcoins are holding their gains, and there are multiple major catalysts lined up. The combination of regulatory progress, inflation data, strong ETF demand, and early altcoin rallies could create a perfect storm for crypto gains.
It feels like the market momentum we haven’t seen in a while — reminiscent of the start of the year when both Bitcoin and altcoins surged. Keep an eye on the CPI report and legislative developments, as they could be the fuel that propels crypto into its next big move.
Stay tuned and stay informed — this could be the week that sets the tone for the months ahead in crypto and bitcoin.
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