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The Bitcoin price edged up over 1% in the past 24 hours, trading at $120,019 as of 12:18 a.m. EST, with trading volume rising 1% to $51 billion.
The BTC price is back above $120K as “Crypto Week” moves full steam ahead, following the US House’s approval of three key bills that could reshape the digital asset industry.
The House passed the CLARITY Act, the GENIUS stablecoin bill, and the Anti-CBDC Surveillance State Act.
🇺🇸 ALL THREE #BITCOIN CRYPTO BILLS HAVE PASSED THE HOUSE.
– CLARITY ACT (294-134)
– GENIUS ACT (308-122)
– ANTI-CBDC ACT (219-210)HISTORIC DAY TODAY!!! pic.twitter.com/CRtrleByP3
— Vivek⚡️ (@Vivek4real_) July 17, 2025
The bills could provide some much-needed clarity to the digital asset industry, paving the way for further cryptocurrency innovation and adoption.
Can the continued adoption serve as a catalyst for a surge in Bitcoin’s price?
Bitcoin Price Targets New Highs As Final Wave Pushes Toward $140K
The 3-day BTC price chart reflects a strong bullish trend that has been moving within a rising channel pattern.
The Bitcoin price has completed an Elliott Wave structure, with the asset currently in wave (5), suggesting a potential final impulsive leg of this uptrend. Bitcoin consistently respected both the upper and lower bounds of the channel, using them as dynamic support and resistance.
Meanwhile, the 50 Simple Moving Average (SMA) at $97,269.21 lies significantly above the 200 SMA at $75,361.16, reinforcing the bullish momentum. BTC trades above both SMAs, confirming the bullish sentiments, as GeckoTerminal data shows.
The Relative Strength Index (RSI) is at 72.90, placing it in overbought territory, which indicates strong buying pressure but also warns of potential short-term exhaustion.
Moreover, the Moving Average Convergence Divergence (MACD) is bullish, as the blue MACD line has crossed above the orange signal line, and both are trending upward, supporting continued upward momentum in the price action.
If the bulls push the price of Bitcoin through wave 5, BTC could climb up towards the $140,000 level, within the upper boundary of the rising channel.
In the long run, Bitcoin’s price is poised for sustained growth, driven by increasing regulatory clarity, which acts as a catalyst for mainstream adoption.
However, the overbought RSI suggests a possible minor pullback, which could allow the bears to push the price of BTC to the last support zone around $100,000.
Meanwhile, investors are piling into a new BTC-themed meme coin called Bitcoin Hyper (HYPER), which aims to scale the Bitcoin blockchain.
According to 99Bitcoins, a popular crypto channel on YouTube with over 723K subscribers, HYPER could soar 10X after launch.
Bitcoin Hyper Token Presale Rushing Toward The $3.5 Million Milestone
Bitcoin’s robust security architecture has established it as the gold standard for cryptocurrency. However, transaction speed limitations have restricted its utility in modern decentralized applications.
Enter Bitcoin Hyper, which addresses those scalability challenges through an innovative layer-2 framework that preserves Bitcoin’s fundamental security. The project does this while enabling lightning-fast transaction processing capabilities comparable to those of modern high-performance blockchains, such as Solana.
The project is built on the Solana Virtual Machine (SVM), a functionality that also introduces fast and scalable smart contracts to the Bitcoin ecosystem.
🚨 Bitcoin Hyper is now live in Best Wallet! 🚨@BTC_Hyper2 is building Bitcoin’s first Layer 2 focused on real scalability — enabling fast, cheap BTC transactions, meme coins, dApps, and more.
It’s secured by Bitcoin L1 and powered by Solana VM tech for high speed and massive… pic.twitter.com/5Ktj12RCR1
— Best Wallet (@BestWalletHQ) June 5, 2025
Additionally, the project functions on a decentralized Canonical Bridge, which ensures seamless and secure transfers between Bitcoin’s base layer and BTC Hyper.
Bitcoin Hyper is gaining traction, having raised over $3.3 million in early-stage funding so far.
Apart from scalability, the team has allocated 5% of the total 21 billion HYPER token supply for rewards, offering investors an impressive 272% annual percentage yield (APY) for purchasing and staking the tokens. Over 191 million HYPER tokens have already been staked.
Investors interested in participating in the presale can visit the official Bitcoin Hyper Token website to buy HYPER tokens for $0.0123 each using crypto or a bank card.
Buy before the next price increase in about 9 hours.
Visit the Bitcoin Hyper website.
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