Bitcoin briefly eclipses $123,000
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Bitcoin's surge to a record this week has reignited questions about the role institutional investors are playing in pushing it higher, with analysts suggesting their role is still in its infancy.
"Crypto Week" kicks off in the U.S. as lawmakers debate key bills that could reshape digital asset regulation. Here’s what the legislation means for Bitcoin, investors, and the future of crypto in America.
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The cryptocurrency market is relatively calm on Wednesday as Bitcoin (BTC) attempts to extend its recovery above $119,000, following a sell-off to $115,736 the previous day. Altcoins, including Ethereum (ETH) and Ripple (XRP), offer bullish cues, reflecting steady interest from both institutional and retail traders.
Firms like GameStop and Trump Media are following the Michael Saylor playbook and treating bitcoin as a strategic reserve.
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Bullish tailwinds have boosted the world's largest cryptocurrency in the last week. The token's price broke above $120,000 for the first time on Monday.
The double-leveraged XXRP ETF rallied 55% over the last week ahead of the ProShares XRP ETF launch, matching Bitcoin ETFs. A high-profile ETF filing from the Trump Media & Technology Group has added to the buzz around crypto funds during the week.
House lawmakers in Washington were due to convene on Thursday afternoon to consider passing the stablecoin bill and another that would develop a regulatory framework for cryptocurrencies more broadly.