Bitcoin reached around USD 119,000 after a sharp pullback, influenced by a halt in U.S. legislative discussions regarding digital asset regulation. Strong inflation data and trade rhetoric contributed to caution in crypto markets. Expectations improved after Trump garnered support for the GENIUS Act aimed at stablecoins, potentially marking significant regulatory progress for the sector. Recent inflows into Bitcoin ETFs indicate a shift in sentiment. Future price movements may depend on Federal Reserve actions concerning inflation and the outcome of proposed legislation for greater legal clarity in crypto.
Bitcoin steadied around USD 119,000 after a pullback due to legislative setbacks in the U.S., with investor caution following inflation data and trade rhetoric.
Trump's support from Republican lawmakers may pave the way for significant regulatory advancements in digital assets, including stablecoin regulations and oversight bills.
The potential passage of the GENIUS Act and related legislation could significantly enhance institutional adoption and clarify legal status for digital assets.
Future of Bitcoin's rally may hinge on the Federal Reserve's actions regarding inflation, alongside potential legal clarity fostering institutional interest in crypto.
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