Bitcoin Holds Steady at $118K Amid Ongoing Crypto Week in U.S. House
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Bitcoin remained relatively stable at around $118,000 on July 16, 2025, as the cryptocurrency market entered the third day of the much-anticipated “Crypto Week” in the U.S. House of Representatives. Market sentiment has largely been driven by political developments, with lawmakers continuing to debate multiple bills that aim to clarify regulatory frameworks for digital assets. Investors are closely watching the GENIUS Act and other proposed legislation related to stablecoins, decentralized finance (DeFi), and the classification of crypto assets as securities or commodities.
Despite the intense legislative focus, Bitcoin managed to avoid major volatility. Traders appear to have priced in much of the short-term regulatory risk and are now looking at the potential for long-term benefits should clear, pro-innovation regulation emerge. Ethereum followed a similar path, trading above $3,100, while altcoins like Solana and Avalanche experienced modest gains. Analysts suggest that institutional participation is gradually increasing as large funds and asset managers reposition in anticipation of clearer compliance guidelines.
The resilience in Bitcoin’s price also reflects broader optimism in the digital asset space. With inflation in the U.S. trending lower and interest rate cuts hinted at by the Federal Reserve, risk-on assets such as cryptocurrencies are finding support. The current macroeconomic environment is providing a favorable backdrop for crypto adoption. Meanwhile, trading volumes on centralized exchanges rose by 7% over the last 24 hours, indicating healthy market activity even without a breakout in price.
Investor sentiment has also been buoyed by positive corporate developments. Publicly listed firms with crypto exposure, such as Coinbase and MicroStrategy, saw slight upticks in share prices. ETF products tied to digital assets also remained in demand, especially those with Bitcoin or Ethereum holdings. While regulatory uncertainty is still in play, there is a clear perception that this week could be a turning point for U.S. crypto policy.
As the week progresses, traders and policymakers alike remain cautious yet optimistic. Much depends on whether any bills move forward meaningfully by the end of the session. Until then, Bitcoin’s ability to maintain stability above the $115K support level will be key to sustaining bullish momentum. Any surprise outcomes in Washington could still inject volatility, but for now, the crypto market is holding its ground with confidence.
