Bitcoin and Ethereum Surge: Analyzing the Bullish Momentum in Crypto Markets

Bitcoin hit new record highs around the 123,000 level, but it's not alone in its rally.

Es exciting its believers by crossing the Rubicon, the 3000 level and getting into positive territory year to date.

Meanwhile, it's cryptoweek on Capitol Hill, though it was supposed to be smooth sailing House Republicans have encountered some drag.

With conservative lawmakers dragging votes out over concerns that the Genius Act could lead to the creation of a CBDC.

Well joining me to weigh in this morning is Ray Salman, head of markets for Coin Telegraph.

Ray, good morning.

Thank you so much for joining us.

So first and foremost, take us through the bullish price action that we're seeing across the crypto landscape.

Yeah, thanks for having me.

It's fantastic.

We're seeing clear signs of strong bullish momentum across the entire crypto market, not just in the price action, but also in the fundamentals.

So the Bitcoin and Ethereum ETFs are attracting billions of dollars in inflows and open interest actually on CME futures and options is soaring.

And at the same time you have public companies that are building these large Bitcoin.

Treasuries.

So in addition to that, there's also huge fundraising momentum.

There are Sacks targeting multibillion dollar bitcoin buys and within venture within venture capital, you see a lot of backing of like Bitcoin infrastructure and bitcoin mining.

So in our view, this is a broad-based institutional confidence that you can see throughout the entire market.

Yeah, and speaking of which, uh NYSCRA launched ProShares, a leverage the Lana as well as a ripple ETS.

So what does this mean and when are spot ETFs for altcoins coming?

When it's difficult to predict, it seems like given the support of the Trump administration for crypto, that it should be before the end of the year or by Q1 or Q2 of 2026.

But you know, the good thing about the leveraged crypto ETFs is that they give traders amplified exposure, a 2 X or a 3x without them. margin and they're popular among high frequency traders because they thrive off volatility.

I think that, you know, the prevalence of these products, it's a sign of a maturing market just like in traditional finance where there are leveraged ETFs like the S&P 500, there's SPX, there's, there's, there's many of them, so um. now has its own, and I think that this type of tooling over time can reduce market volatility because it does also give traders a way to hedge rather than panic sell when there is volatility.

So the good thing about them is that they're bringing more serious long term capital into the space.

And finally, Republicans have been having a hard time passing key crypto legislation.

The House setting a new record last night, spending almost 10 hours on a single vote as Republicans struggle to come together.

So what are you hearing when it comes to crypto week and what are your expectations here?

I think it's all going to pass, so President Trump has demonstrated this ability to, you know, use the big stick to convince people to legislate in his favor when it comes to cryptocurrency, so.

You know, the, the sausage making is messy, but I, I believe that all will pass.

You know, the Genius Act just passed this key procedural vote after a 10 hour long debate last night, and next is the Clarity Act and the anti-CBDC Surveillance Act.

So if Things are passed into law.

They should make it easier for banks to engage with stablecoins, and crypto payments should be able to flow more freely because it gives clear oversight and rules for issuers, and we believe that it could reshape how financial institutions handle digital assets in the United States.

Well, Ray, we will have to leave it there but thank you so much for joining us this morning and thank you so much for sharing all of your insights.

Thank you.