Ethereum has reached a new yearly high, and Bitcoin is holding steady above $118,000—what a Thursday!

Bitcoin: U.S. Regulation & the Retail Question

The U.S. is picking up the pace. After nearly ten hours of debate in the House of Representatives, it looks like the crypto-focused bills—GENIUS and Clarity—are heading for a vote. One noteworthy addition: a clause that would limit the use of CBDCs. There’s a real chance these frameworks could move forward as early as next week.

The market is reacting with calm interest. Bitcoin is holding just above $118,000—nearly $20,000 higher than the weekly low. According to Glassnode, over 196,000 BTC (worth around $23 billion) were bought during the recent dip between $116K and $118K. Wallets holding 1 to 100 BTC continue to accumulate faster than miners can produce.Is retail back? That’s still up for debate. The Coinbase app recently jumped 249 spots to rank 137 in the U.S. App Store—a pattern seen in previous bull markets. However, Google search trends remain relatively quiet. Analysts like Dragosch point to institutional investors as the primary force behind the rally, though some see early signs of retail returning.

Meanwhile, cycle discussions are heating up. K33 Research suggests the classic four-year halving cycle may be over, arguing that macroeconomic factors are now more influential. Institutional access, geopolitical tensions, and inflation concerns have turned Bitcoin into more of a reactive store of value—and less of a momentum-driven, speculative asset.