Bitcoin, Ethereum Surge as Senate Moves Forward on Stablecoin Bill: Analysts Eye New All-Time Highs Amid Market Euphoria
May 20, 2025
The cryptocurrency market soared on Monday following a pivotal move in U.S. legislation, with Bitcoin (BTC), Ethereum (ETH), and Dogecoin (DOGE) all registering strong gains. The market’s rally aligns with the Senate’s advancement of the much-anticipated GENIUS Act, a bipartisan stablecoin regulation bill that could redefine digital asset oversight in the United States.
📈 Market Movers: BTC, ETH, DOGE Lead the Pack
At 10:30 p.m. ET on Monday, the crypto landscape showed a clear bullish trend:
- Bitcoin (BTC): Up 1.4%, trading at $106,510Ethereum (ETH): Surged 6.8% to $2,579
- Dogecoin (DOGE): Rose 2.1% to $0.2291
Bitcoin rebounded sharply after testing support near $102,000, regaining momentum and approaching its key resistance zone around $106,000. Ethereum, meanwhile, reversed weekend losses to reclaim mid-$2,500 territory, pushing its market dominance back above 9%.
🏛️ GENIUS Act Advances: A Turning Point for Crypto Regulation
The market optimism is widely attributed to progress on the Giving Every Nation a United and Independent Stablecoin (GENIUS) Act, which passed a procedural vote in the Senate. The bill, championed by Senators Cynthia Lummis (R-WY) and Kirsten Gillibrand (D-NY), aims to establish clear frameworks for stablecoin issuance, KYC protocols, and bank-like reserve requirements.
Anthony Scaramucci, founder of SkyBridge Capital, called the bill “a step toward regulatory clarity that the market has craved for years,” while Elizabeth Warren has raised objections, calling it “a crypto loophole dressed as a bill.”
📊 Derivatives & Liquidations: Big Moves Behind the Scenes
The past 24 hours saw $300 million in crypto liquidations, with long positions accounting for over half of that—roughly $150 million. Key market indicators reveal:
- Bitcoin Open Interest rose 5.92%, signaling heightened trading activity.
- Ethereum derivatives saw an 8%+ increase in locked funds.
- Binance trader data showed 57% of BTC positions were short, suggesting a short squeeze may have fueled the rally.
😈 Sentiment Check: Fear Turns to Greed
The Crypto Fear & Greed Index tipped into “Greed” territory, signaling bullish sentiment across retail and institutional segments. This reflects growing confidence among traders that BTC could retest or break its previous all-time high of $108,000 in the coming days.
“If we break above $106,000 with strong volume and the Coinbase premium intact, we could see Bitcoin touch $110,000 within the week,” said Arthur Azizov, founder of B2 Ventures, in a statement to Cheetah News.
🔝 Top Altcoin Gainers (24h)
| Token | Gain | Price |
| Aave (AAVE) | +19.4% | $265.34 |
| Curve (CRV) | +9.5% | $0.74 |
| Pendle (PENDLE) | +8.9% | $4.43 |
These altcoins outperformed amid renewed interest in DeFi, likely boosted by potential positive regulatory developments.
📈 Macro Markets Mirror Crypto Sentiment
Traditional markets also began the week in the green:
- Dow Jones: +137.33 points to 42,792.07
- S&P 500: Sixth consecutive daily gain, closing at 5,963.60
- Nasdaq Composite: +0.02% to 19,215.46
Meanwhile, U.S. Treasury yields jumped following Moody’s downgrade of U.S. long-term debt, with the 30-year yield hitting 5%—its highest since October 2023.
💬 Analyst Commentary: What’s Next for BTC?
Renowned trader Michaël van de Poppe noted that Bitcoin appears ready to test its previous all-time highs after consolidating above $105,000. He also expects altcoins to outperform BTC in the near term as capital rotates into mid- and low-cap tokens.
“Bitcoin is entering a zone where any breakout could trigger a wave of fresh institutional inflows, especially as U.S. demand returns,” he said.
🔮 Outlook: Is a New Crypto Bull Market Here?
With regulatory clarity on the horizon, and macroeconomic indicators aligning in crypto’s favor, many analysts believe a sustained bull run is plausible. A successful passage of the GENIUS Act could unlock a new wave of institutional participation, particularly in stablecoins and tokenized financial instruments.
For now, all eyes are on Bitcoin’s resistance around $108,000 and the $110,000 psychological barrier—a breakthrough here could reshape the market narrative for 2025.
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