Scott Bessent

Crypto Not a Threat to Dollar, Says Treasury Secretary Scott Bessent

June 19, 2025 •

Bessent says crypto isn’t a threat to the dollar—calls stablecoins a strength as Trump pushes GENIUS Act to the House floor.

The crypto market cap holds steady at $2.88T after a bullish structure shift, signaling a potential higher low formation ahead. Despite a recent 0.88% dip, the total crypto market cap stays above key fib levels, showing strength after April’s recovery. Sentiment remains bearish, but price structure and volume suggest the market is building a solid base between $2.7T and $3.0T. The total cryptocurrency market cap is showing signs of renewed strength after a major structural shift on the daily timeframe. The market currently sits at $2.88 trillion, down slightly by 0.88% on the day. However, despite the dip, recent price action has turned bullish. A clean break in structure has emerged following April’s recovery. Traders now eye a higher low as the next key development. A purple support zone just below current levels looks promising. If that fails, deeper Fibonacci levels may provide support. Structural Recovery Follows Steep Correction Since November 2024, the crypto market has moved through a well-defined cycle. The trend started near $2.1 trillion and quickly rallied. December brought explosive growth, pushing the market cap above $3.6 trillion, a 71% rise. Mid-December marked the first peak, followed by a minor consolidation. Source: CRG Momentum returned in January 2025, briefly lifting the market near $3.6 trillion again. However, February reversed the trend. A steep March correction dragged the market down 25%, dropping the cap from $3.1 trillion to $2.3 trillion. April marked a turning point. The market formed a rounded bottom near the $2.3 trillion level. Fibonacci retracement zones appeared, showing possible recovery targets. Price eventually rallied near $3 trillion before pulling back slightly. Bulls Watch for Base Before Breakout Current consolidation between $2.7 trillion and $3.0 trillion suggests a new base may be forming. This aligns with broader bullish sentiment despite recent bearish headlines. CRG from MacroCRG notes that sentiment remains near record lows. However, price structure tells a different story. The market now trades above key Fibonacci levels, with volume evenly split between buyers and sellers. This balance hints at an accumulation phase rather than distribution. The purple zone beneath current prices could form the ideal higher low. Moreover, technical traders view dips as opportunities rather than signals of collapse. With a bullish structure in place, a strong move higher seems increasingly likely. Price may need more time to build momentum, but the foundation appears solid.

Stablecoin Market Eyes $2T as Senate Advances GENIUS Act

June 12, 2025 •

The Senate advances the GENIUS Act with strong backing, aiming to boost stablecoin regulation and drive USD adoption toward a $2T market.

House Momentum Builds for GENIUS, CLARITY, and Anti-CBDC Bills

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