"Crypto Week" kicks off in the U.S. as lawmakers debate key bills that could reshape digital asset regulation. Here’s what the legislation means for Bitcoin, investors, and the future of crypto in America.

Furthermore, Ethereum’s (ETH) rising dominance gradually erodes Bitcoin’s market share, indicating a growing risk appetite among investors. Peter Brandt, a veteran analyst, points to a cup-and-handle pattern in the total crypto market capitalization, excluding Bitcoin, that could signal the start of the next altcoin season.

Bitcoin reached all-time high above $123,000 as lawmakers prepare crypto regulatory bills during "Crypto Week," following Trump's pledge to make the U.S. a "bitcoin superpower."

For example, Blockchain Center’s altcoin index has more than tripled since June 22. But it is still only 39% of the top 50 altcoins that have outperformed BTC during the last three-month period—far from the 75% needed for an official altcoin season.

The cryptocurrency market is relatively calm on Wednesday as Bitcoin (BTC) attempts to extend its recovery above $119,000, following a sell-off to $115,736 the previous day. Altcoins, including Ethereum (ETH) and Ripple (XRP), offer bullish cues, reflecting steady interest from both institutional and retail traders.

Firms like GameStop and Trump Media are following the Michael Saylor playbook and treating bitcoin as a strategic reserve.

Bullish tailwinds have boosted the world's largest cryptocurrency in the last week. The token's price broke above $120,000 for the first time on Monday.

The double-leveraged XXRP ETF rallied 55% over the last week ahead of the ProShares XRP ETF launch, matching Bitcoin ETFs. A high-profile ETF filing from the Trump Media & Technology Group has added to the buzz around crypto funds during the week.