Market commentary
After months of consolidation around the psychologically important USD 100,000 mark, Bitcoin has broken out to new all-time highs in recent weeks. Massive inflows into spot ETFs and purchases by Bitcoin treasury companies pushed the price above USD 120,000. Additional momentum comes from the prospect of monetary easing in the US.
Ethereum begins to catch up
In a key step for US crypto regulation, Congress passed the GENIUS Act last week, which codifies stablecoin rules, mandates full reserves, and exempts compliant issuers from SEC/CFTC oversight. At the same time, the House of Representatives developed legislative proposals to promote crypto market structure (CLARITY Act) and to ban a CBDC issued by the US Federal Reserve. President Trump is also preparing an executive order to allow cryptocurrencies in 401(k) retirement plans.
These developments primarily benefit alternative digital assets ("altcoins") that serve as the infrastructure for a wide range of new blockchain applications such as stablecoins, real-world assets (RWAs), and decentralized finance (DeFi). Accordingly, Ethereum (ETH), the largest institutional blockchain platform, has gained +50.6% since the beginning of the month.
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Strong month for altcoins
During historical bull cycles, all-time highs in Bitcoin have often been followed by a catch-up phase among altcoins. Following this latest breakout, alternative digital assets also posted strong returns. Over the past 30 days, all altcoins showed gains – many in the double-digit percentage range. This week, however, a brief consolidation phase followed with price movements ranging between +5% and -10%.
Disclaimer
All information in this publication is provided for general information purposes only. The information provided in this publication does not constitute investment advice and is not intended as such. This publication does not constitute, and is not intended to constitute, an offer, recommendation or solicitation to invest in any financial instrument, including cryptocurrencies and the like. The content contained in the publication represents the personal opinion of the respective authors and is not suitable or intended as a basis for decision-making.
Risk notice
Investments and investments, especially in cryptocurrencies, are generally associated with risk. The total loss of the invested capital can not be excluded. Cryptocurrencies are very volatile and can therefore be exposed to extreme price fluctuations in a short time.
