{"id":12894,"date":"2025-07-21T20:23:00","date_gmt":"2025-07-22T01:23:00","guid":{"rendered":"https:\/\/networkstars.com\/bitcoin-price-today-hovers-at-119k-amid-legislative-boost-altcoins-extend-rally\/"},"modified":"2025-07-23T12:31:04","modified_gmt":"2025-07-23T17:31:04","slug":"bitcoin-price-today-hovers-at-119k-amid-legislative-boost-altcoins-extend-rally","status":"publish","type":"post","link":"https:\/\/networkstars.com\/en\/bitcoin-price-today-hovers-at-119k-amid-legislative-boost-altcoins-extend-rally\/","title":{"rendered":"Bitcoin price today: hovers at $119k amid legislative boost; altcoins extend rally"},"content":{"rendered":"\n

Bitcoin inched higher in Asian trade on Monday, climbing above $119,000, but investor sentiment remained cautious despite optimism following a series of U.S. legislative actions aimed at regulating the cryptocurrency sector.<\/p>\n\n

The world\u2019s largest cryptocurrency last traded 0.7% higher at $119,080 as of 09:55 ET (13:55 GMT).<\/p>\n\n

The token surged to record highs above $123,000 last week, but has since pulled back below $120,000 and is now trading in a consolidation phase near that level.<\/p>\n\n

Crypto legislation advances in U.S., but investors remain cautious<\/strong><\/h3>\n\n

Last week, President Donald Trump signed into law the U.S. GENIUS Act, establishing a federal regulatory framework for stablecoins.<\/p>\n\n

The law mandates stablecoin issuers to maintain reserves in liquid assets, including dollars or Treasuries, and to provide monthly disclosures.<\/p>\n\n

The move is seen as a major step toward legitimizing stablecoins, a sector currently valued at more than $260 billion, and integrating them more fully into the financial system.<\/p>\n\n

In addition to the GENIUS Act, the House of Representatives passed two other key bills.<\/p>\n\n

The CLARITY Act aims to define whether digital tokens fall under the jurisdiction of the Securities and Exchange Commission (SEC) or the Commodity Futures Trading Commission (CFTC).<\/p>\n\n

The second, the Anti-CBDC Surveillance State Act, prohibits the Federal Reserve from issuing a central bank digital currency without explicit approval from Congress.<\/p>\n\n

The three bills signaled a unified push during \u201ccrypto week\u201d to reshape U.S. crypto regulation.<\/p>\n\n

Despite the legislative momentum, investors remain cautious. The GENIUS Act requires extensive rule-making by the Treasury Department before it can be fully implemented, a process that could take many months. <\/p>\n\n

Additionally, the Senate has yet to take up the two House-passed bills, leaving the broader regulatory outlook uncertain.<\/p>\n\n

Crypto price today: altcoins extend gains, XRP near record highs<\/strong><\/h3>\n\n

Most altcoins extended gains on Monday, building on last week\u2019s rally fueled by broad optimism surrounding \u201ccrypto week\u201d and U.S. legislative momentum.<\/p>\n\n

World no.2 crypto Ether rose 2% to $3,817.42, its highest level in more than seven months.<\/p>\n\n

World no. 3 crypto XRP gained 1.4% to $3.56. It reached a record high of $3.67 last week. <\/p>\n\n

Solana jumped 5.5%, and Cardano added 7.2%, while Polygon jumped 3.8%.<\/p>\n\n

Among meme tokens, Dogecoin surged 8%, while $TRUMP soared nearly 10%.<\/p>\n\n

Source: Investing.com<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

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