Crypto News Live: Bitcoin & Ethereum Rally—Key Drivers Behind Today’s Market Momentum

Surging trading volume and fresh legislative momentum are combining to push the digital-asset market back into the spotlight this week. Bitcoin (BTC) is battling to reclaim the US$108,000 level after a brief dip toward US$101,400 on Tuesday, while Ethereum’s ether (ETH) has jumped 6 % in 24 hours, outpacing the broader market and helping total crypto capitalization rise above US$4.1 trillion for the first time since early June. Fueling the rally is “Crypto Week” on Capitol Hill, a five-day stretch of hearings and floor debates that began Monday and is dedicated entirely to digital-asset policy. Lawmakers are fast-tracking three high-profile bills: a comprehensive market-structure framework, a stablecoin issuer licensing regime, and a tax-reporting safe-harbor amendment. House Financial Services Vice-Chair French Hill says the package will “lock in America’s Web3 leadership” if it passes a final vote scheduled for Friday. Investors are betting the legislation will clarify custody rules for banks and pave the way for new spot-based exchange-traded funds. The prospect of regulatory certainty has already attracted an estimated US$4.8 billion in net inflows to U.S. Bitcoin ETFs since the start of July, according to Bloomberg data, reversing outflows seen in May and June. Options markets show a surge in open interest for August BTC calls at US$120k and US$130k strikes, suggesting traders are positioning for a breakout once the bills leave the House. Ethereum, meanwhile, is benefiting from a separate catalyst: yesterday’s successful activation of the Pectra testnet, which bundled a long-awaited proto-danksharding upgrade with account abstraction tools designed to reduce gas costs for popular layer-2 rollups. Developers have penciled in early October for mainnet release, and analysts at Galaxy Digital argue the overhaul could push Ether’s fee-burn rate back above issuance, reviving the “ultrasound money” narrative that fueled the token’s 2021 run-up. Smaller-cap tokens are also catching a bid. Solana (SOL) has gained 9 % this week on news that payment processor Stripe will expand USDC settlements to the network, while privacy-focused Aleph Zero (AZERO) briefly broke the US$1 barrier after partnerships with IBM Consulting were announced. Retail traders on TikTok are touting sub-US$1 coins as the next front in the bull market, a meme that helped PepeCoin (PEPE) surge 33 % in the past two sessions. Still, pockets of stress remain. The latest TheMinerMag report shows that the four largest industrial miners now control nearly 20 % of monthly Bitcoin block rewards, double their share in early 2022, stoking fresh concerns about network centralization risks ahead of April’s halving. Separately, yield platform HyperEarn froze withdrawals on Wednesday after a flash-loan exploit drained US$38 million from its liquidity pools, reminding investors that DeFi smart-contract risk has not disappeared despite the market’s bullish tone. Market technicians say BTC must decisively close above US$110k on the weekly chart to confirm continuation of the uptrend that began with January’s ETF approvals, but sentiment indicators are flashing green. The Crypto Fear & Greed Index sits at 76—“Extreme Greed”—while TradingView’s blended oscillator for BTC/USD shows its first daily buy signal since mid-May. Key levels to watch for the remainder of “Crypto Week”: • Bitcoin resistance: US$110k, then the all-time high near US$114,800. • Bitcoin support: US$101k, followed by the 50-day EMA at US$96k. • Ethereum resistance: US$6,400 (April peak). • Total crypto-market cap resistance: US$4.25 trillion; a break could open room toward the previous cycle’s US$4.7 trillion record. With pivotal votes in Washington, a major Ethereum upgrade on deck and risk appetite returning, the next 72 hours could set the tone for the rest of 2025’s crypto narrative. Search interest for “Bitcoin price today,” “Crypto Week bills,” and “best altcoins under $1” has already spiked, underscoring how quickly retail attention is pouring back into the market.