Insights 
VT 
Key Points:
- Bitcoin gained 0.8% to $119,026; Ether rose 3.3%, XRP up 2.6%, and Solana climbed 2.7%.
- Fresh legislation on stablecoins and crypto classifications drives investor confidence.
Bitcoin opened the week on firmer footing, rising 0.8% to $119,026, according to CoinDesk. The lift follows easing global trade tensions and progress on long-awaited U.S. crypto regulation. Ether climbed 3.3% to $3,890, XRP gained 2.6% to $3.27, and Solana moved 2.7% higher to $192.21. Equity futures also showed modest strength, with S&P 500 and Nasdaq futures up 0.3% and 0.5%, respectively.
Bitcoin’s recent gains have been underpinned by improving sentiment around trade. President Donald Trump’s weekend announcement of a 15% baseline tariff on EU goods calmed investor nerves after weeks of speculation.
While the deal still imposes restrictions, markets interpreted the resolution as a stabilising force for risk assets, including crypto.
The rally was also fuelled by progress on regulation. The Genius Act, now signed into law, establishes a clear framework for stablecoins, recognising them as legitimate financial instruments pegged to fiat currencies.
More importantly, the Clarity Act passed by the House aims to resolve longstanding ambiguity around whether cryptocurrencies are commodities or securities. This measure is expected to unlock new inflows from institutional investors, who had been cautious amid the murky legal environment.
Technical Analysis
Bitcoin has entered a pullback phase after reaching a short-term peak at $119,800.64. Despite earlier strength, price action has since stalled, with candles now hovering just below the 10- and 30-period moving averages on the 15-minute chart.
Picture: BTC/USD retraces after testing $119,800 resistance, as seen on the VT Markets app
The crossover of the 5- and 10-MA beneath the 30-MA confirms a loss of upward momentum, while the MACD has flipped bearish—its line now below the signal, and the histogram increasingly negative. This suggests downside pressure is building.
Price is repeatedly testing support around $118,700, which has so far held, but any sustained break beneath this zone could invite further weakness toward $118,200. For bullish momentum to resume, BTC needs to reclaim $119,800 with volume, ideally supported by a fresh MACD crossover.
Cautious Forecast
If BTC holds above $118,700, it could re-test the $120,000 level in the short term. However, with MACD momentum cooling and moving averages flattening, the path higher may be gradual. Further upside may depend on the Senate’s stance on the Clarity Act when lawmakers return from recess.
