Bitcoin and most crypto tokens are rising today, potentially signaling the beginning of a new crypto bull run.

Bitcoin (BTC) surged above the key resistance level of $110,000 for the first time in nearly a month. Similarly, most altcoins jumped, with Fartcoin (FARTCOIN), Dogwifhat (WIF), and Celestia (TIA) among the top performers.

As a result, 24-hour trading volume across centralized and decentralized exchanges rose by over 30% to $133 billion, while the total market capitalization of all crypto assets increased by 3% to $3.4 trillion.

Big Beautiful Bill hopes

A likely catalyst for the rally is renewed optimism that the House of Representatives will pass Donald Trump’s Big Beautiful Bill. The Senate approved its version earlier this week, and the White House is reportedly negotiating with holdouts in the House.

The bill is seen as positive for Bitcoin, which has increasingly been viewed as a safe-haven asset. With the bill expected to significantly boost U.S. debt, many investors may turn to Bitcoin for protection, as predicted by BlackRock. 

In addition, the bill includes tax cuts, such as exemptions for tips and overtime pay. As seen during the COVID-19 pandemic, some of these savings could flow into the stock and crypto markets.

Potential Federal Reserve interest rate cuts

Bitcoin and altcoins are also rallying on expectations that the Federal Reserve will cut interest rates later this year. Goldman Sachs analysts forecast cuts in September, November, and December, while Morgan Stanley predicts seven rate cuts in 2026.

Crypto assets tend to perform well in falling rate environments. During the pandemic, Bitcoin and most altcoins soared to record highs as the Fed slashed rates to zero. Those gains were later erased in 2022 as interest rates rose sharply in response to inflation.

Increased institutional interest

Bitcoin and altcoins are gaining from growing institutional demand. Spot Bitcoin and Ethereum ETFs continue to attract inflows from U.S. investors. Bitcoin ETFs are nearing $50 billion in cumulative inflows, while Ethereum ETFs have surpassed $4.25 billion. 

Additionally, more companies are adding Bitcoin and other cryptocurrencies to their balance sheets. Strategy, Mara, and MetaPlanet are among the most notable. In a note to Coin Insider Daily, Dom Harz, co-founder of BOB, said:

“What’s particularly telling is the sustained institutional interest, especially from public companies purchasing Bitcoin as a treasury asset. For the third consecutive quarter, public companies have acquired more Bitcoin than ETFs have. This is a powerful signal of long-term conviction.”

Regulatory clarity

Finally, Bitcoin and altcoins are rallying amid growing regulatory clarity. The GENIUS Act is expected to become law in the United States, and the Securities and Exchange Commission has recently signaled a more supportive stance toward the decentralized finance sector. This shift could encourage more institutional and retail investors to enter the market.