Crypto Week Unleashes a BTC Blitz & Sparks the Altcoin Catch-UpBitcoin FuturesCME:BTC1!mintdotfinanceTotal crypto market capitalization has reached a new record high, driven by Bitcoin’s stunning rally. Other major coins, notably Solana and Ethereum, remain below their previous peaks. These price records coincide with what President Trump has dubbed “Crypto Week.” Market insiders are preparing for an altcoin season as the BTC Fear & Greed Index moves into the greedy zone. As we’ll note in this paper, things are different this time around, with certain digital assets better positioned to lead. It examines the outlook for Bitcoin, Ethereum, Solana and XRP in light of the crypto bills under consideration in the US. It also explains how inter-asset spreads, which capture relative value between digital assets, can help investors position with reduced risk. Crypto Week Triggers Surge. Will Sentiment Wane Now? The week of July 14, 2025 was dubbed “Crypto Week” in Washington, D.C., featuring a string of pro-crypto legislative milestones. The U.S. House of Representatives advanced three major bills – the CLARITY Act (defining crypto market structure and exchange regulations), the GENIUS Act (establishing federal rules for stablecoins), and an anti-CBDC measure – aiming to provide the clear regulatory framework the industry has long sought for. President Trump, who embraced the moniker of “crypto president,” backed these efforts and swiftly signed the stablecoin GENIUS Act bill into law. This legislative push signalled a historic shift in attitudes, positioning the U.S. to “make America the crypto capital of the world,” as lawmakers claimed. Crucially, the stablecoin law (the GENIUS Act) could unlock new liquidity for digital assets. It creates a legal framework for U.S. dollar–pegged stablecoins, allowing banks, nonbanks and credit unions to issue their own dollar-backed coins under clear guardrails. Stablecoins – the lifeblood for trading and DeFi – already play a major role by enabling instant crypto transactions, and their use has grown rapidly despite past regulatory uncertainty. With regulatory certainty, fresh stablecoin supply from traditional institutions may enter the market, increasing on-ramps for investors and flow of capital into crypto. In theory this is a bullish development, as expanding the fiat-backed liquidity pool can support higher valuations across assets. However, it’s important to note that these U.S. laws are not yet in effect – the stablecoin act will take time to implement even after signing, and the other bills still require Senate approval or further progress. The optimism of “Crypto Week” has been rapidly priced in by the market, but the practical impacts (e.g. banks actually launching stablecoins or increased U.S. stablecoin adoption) will materialize only gradually over coming months. In the meantime, traders should temper excitement with patience, as regulatory change tends to influence markets with a lag. At the same time, the recent surge in stablecoin supply is undeniable and has come on the back of additional flows to the asset class all year through broader institutional adoption. BTC and XRP at ATH; SOL and ETH Lag Bitcoin rallied through Q2 2025 to crest a new peak of $123,000, driven by institutional demand—including record spot ETF inflows totalling $19 billion (YTD) and positive regulatory signals. XRP echoed this strength, surging past $3.60 to reclaim its 2018 peak after major asset managers filed for XRP based ETFs amid clearer legal status post CLARITY Act. By contrast, Ethereum and Solana, despite gains of +35% and +24% respectively in Q2, remain roughly 20–30% below their all time highs (ETH ~$4,800; SOL ~$260). SOL’s rebound owes much to network growth and memecoin activity, and but its institutional narrative remains secondary. ETH’s rally has been supported by rising staking participation and DeFi activity, yet it lacks the concrete ETF catalyst that buoyed BTC and XRP, until now. Source: Mint Finance Analysis Net ETF flows this year have been dominated by strong inflows into BTC ETFs, with only a few brief outflow periods. Notably, over the past few weeks, ETH ETF inflows have also accelerated. Might this signal a shift in momentum, with previously lagging assets poised to rally? It’s possible; however, in a broader market downturn, these same assets could suffer disproportionately. How can investors strategically navigate this environment and position themselves around underperformers? Relative Value Spreads Using CME Micro Futures Relative value spreads allow traders to express a view on one asset relative to another while remaining neutral to directional moves in either. This strategy is particularly useful when price direction is uncertain but some assets are clearly outperforming others. Using CME’s Micro Crypto suite, investors can deploy these spreads on major digital assets with deep liquidity and lower margin requirements than outright positions. Recent inter-asset spread performance shows most altcoins outperformed Bitcoin during “Crypto Week” The BTC / XRP ratio declined 30 percent as XRP rallied more strongly than Bitcoin. The BTC / ETH ratio fell 30 percent, while the BTC / SOL ratio fell 22 percent—the smallest decline among the three pairs. Over the longer term, declines in the BTC / ETH and BTC / SOL ratios reflect nearly a year of altcoin underperformance. As altcoins catch up, the strong momentum in BTC / ETH makes it a viable spread for investors, especially given accelerating inflows into ETH ETFs. The following hypothetical spread consisting of a long position in 32 x CME micro ETH futures (August) and short position in 1 x CME micro BTC futures (August). CME offers margin offset of 40% for this spread as of 22/July. XRP-based spreads have been heavily influenced by the US election and regulatory developments. Investors seeking to express an outperformance view backed by recent legislative progress can consider the XRP / SOL spread, which has shown strong momentum over the past week The following hypothetical spread consists of long 1 x CME micro XRP futures (August) and short 2 x CME micro-SOL futures (August). CME offers a 15% margin offset for this spread as of 22/July. MARKET DATA CME Real-time Market Data helps identify trading set-ups and express market views better. If you have futures in your trading portfolio, you can check out on CME Group data plans available that suit your trading needs tradingview.com/cme. DISCLAIMER This case study is for educational purposes only and does not constitute investment recommendations or advice. Nor are they used to promote any specific products, or services. Trading or investment ideas cited here are for illustration only, as an integral part of a case study to demonstrate the fundamental concepts in risk management or trading under the market scenarios being discussed. Please read the FULL DISCLAIMER the link to which is provided in our profile description.