{"content":"Bitcoin Rebounds as Trump Reignites Crypto Legislation Momentum Bitcoin climbs to $119,000 on Wednesday after losing 1.74% the day before. During “Crypto Week,” US President Donald Trump declared that the House of Representatives would enact the GENIUS Act. US-listed spot Bitcoin ETFs saw over $400 million in inflow on Tuesday, maintaining their run from July 2. Bitcoin (BTC) rises modestly, trading at $119,000 on Wednesday after losing almost 2% the day before. After US President Donald Trump said early on Wednesday that the GENIUS Act would pass the House of Representatives during congressional "Crypto Week," crypto markets gained hope. Institutional demand continues to rise, as Bitcoin Exchange Traded Funds (ETFs) received over $400 million in inflows on Tuesday, extending the streak from July 2. Trump agrees to unblock House crypto legislation On Wednesday morning, President Trump declared on Truth Social that the House of Representatives would adopt the GENIUS Act during “Crypto Week.” Trump tweeted, “I am in the Oval Office with 11 of the 12 Congressmen/women necessary to pass the GENIUS Act and, after a short discussion, they have all agreed to vote tomorrow morning in favor of the Rule.” Speaker of the House Mike Johnson attended the meeting by phone and wants to vote soon. I appreciate Congressmen/women's prompt and enthusiastic response.” On Tuesday, parliamentarians failed to approve a procedural resolution to forward GENIUS, CLARITY, and Anti-CBDC for debate. The measure failed 196 to 223 when numerous Republicans and Democrats opposed it. This news helps Bitcoin's comeback, which trades over $119,000 in Europe on Wednesday. US senators will consider the GENIUS Act, CLARITY measure, and Anti-CBDC Surveillance State Act during "Crypto Week," raising hopes that crypto rules may reach President Trump before the August vacation. Bitcoin remains popular with institutional investors. SoSoValue statistics indicate spot Bitcoin ETFs inflow of $402.99 million on Tuesday, maintaining their nine-day run from July 2. #BTC $BTC ","images":["https://d2kdcqywr8ua22.cloudfront.net/uploadfile/article/blog/2025072025/07/16/f62b2e535e4134bb5160ed8d569e4788.png"],"tags":[],"tradingPairs":["BTC/USDT"],"quotearticleid":0}