Breaking: Bitcoin Blasts Through $122K in Historic Rally Ahead of ‘Crypto Week’ in the U.S.

Bitcoin Pushes Past $122K—And Keeps Climbing

Bitcoin smashed through another milestone, topping $122,500 on Coinbase during Monday’s early Asian trading session. That marks a fresh all-time high! The asset posted a 3.5% gain on the day, building on the momentum from July 11, when BTC entered new price discovery above $118,000.

This bullish run comes just as the U.S. gears up for a potentially transformative legislative push—Crypto Week—which analysts believe could fuel further upside.

U.S. “Crypto Week” Set to Begin

The U.S. House of Representatives has designated July 14–18 as Crypto Week, a five-day window in which lawmakers will review key legislation that could reshape digital asset regulation. Three high-impact bills are on the docket: the GENIUS Act, focused on stablecoins; the CLARITY Act, aimed at defining crypto market structure; and the Anti-CBDC Surveillance State Act, which seeks to block a federal digital dollar.

There’s also growing speculation about a possible announcement regarding a U.S. strategic Bitcoin reserve—a move that would add even more bullish fuel to the fire.

Meanwhile, Bitcoin’s market cap now sits at $2.4 trillion, officially making it larger than Amazon, as pointed out by analyst Joe Consorti. 

What to Expect This Week: Key Events & Timing

The House Rules Committee meets Monday at 4:00 p.m. ET to discuss the three crypto bills. Then on Tuesday at 3:00 p.m. ET, the Senate Agriculture Committee will hold a hearing on digital asset market structure. Voting on the bills begins that same day.

On Wednesday at 9:00 a.m. ET, the House Ways and Means Committee will hold a hearing on crypto taxation. If the GENIUS Act clears the House, a bill-signing could happen by Thursday, July 18.

This tight timeline could lead to a massive sentiment shift for crypto markets, particularly if all three bills pass.

What’s in the Bills?

The CLARITY Act is a bipartisan effort to clearly define the roles of the SEC and CFTC, addressing long-standing confusion about whether crypto assets are securities or commodities. It's meant to avoid future regulatory debacles like Ripple vs. SEC.

The GENIUS Act, which already passed the Senate in June, requires 1:1 cash reserves for stablecoin issuers and enforces AML/CTF compliance. It aims to create a safe regulatory path for stablecoin adoption and prevent another Terra-like collapse.

The Anti-CBDC Act would prohibit a government-issued digital dollar, citing privacy and surveillance concerns.

Crypto Week Could Trigger a New Bull Run

Despite opposition from House Democrats, who launched “Anti-Crypto Corruption Week” to block these bills, the broader sentiment remains bullish. Trump’s pro-crypto pivot and legislative momentum may give Bitcoin the regulatory clarity investors have been waiting for.

As DeFi TVL surges and ETFs continue pulling in fresh capital, this week could mark the start of a longer-term crypto uptrend.