Crypto Market Climbs to $3.8 Trillion Backed by Strong Bitcoin Support

Crypto cap nears $3.8 trillion as Bitcoin holds steady near $119K amid U.S. House advances and global regulatory signals.

MAG212 News | July 17, 2025

Crypto investors experienced a wave of relief and cautious optimism on July 17, 2025. Total market capitalization climbed to $3.8 trillion, marking a 66% increase since last November. Bitcoin steadied around $118,800 after dodging a deeper decline, while Ethereum surged approximately 7% to $3,383, ensuring broader sector gains.

The catalyst behind the bullish sentiment? The U.S. House of Representatives cleared a key procedural vote to advance three pivotal crypto bills—including the GENIUS Act on stablecoins, the CLARITY Act, and a provision preventing a U.S. central bank digital currency—indicating a historic evolution in crypto regulation.

“Where the institutional money flows, innovation follows,” noted a TradingView analyst today, pointing out that 90 of the top 100 cryptocurrencies were trading higher, pushing the crypto fear-greed index deeper into “greed” territory.

Human interest stories are emerging from retail investors who rely on crypto assets for savings and remittance hedging. In developing nations, such users typically face sudden shifts during volatile market swings.

“Traders are cautiously optimistic—this feels different,” said a Reddit user in r/Bitcoin, “well the house just passed the BTC and crypto bills so I hope for a god candle Thursday”.

Globally, regulators are stepping in. The European Union’s MiCA framework is being implemented, while India’s Reserve Bank is actively monitoring global regulatory moves, both indicating a maturing environment .

On the U.S. front, experts describe the potential passage of these bills as historic for digital finance.

“This marks the first major wave of federal crypto legislation in the U.S.,” said CoinDesk, noting that the stablecoin bill will head to President Trump for signature as early as Friday.

Yet, not everyone is celebrating. Bank of England Governor Andrew Bailey recently warned of risks tied to privately issued stablecoins, highlighting systemic concerns.

What’s next?

• Final votes in the U.S. House are expected imminently, likely followed by Trump’s signature.
• Market stability hinges on the specifics of regulatory frameworks—especially around custody and compliance.
• Institutional flows continue to rise: “Bitcoin ETFs” and “stablecoins” are attracting more capital, with Ethereum breaking records in spot ETF inflows.