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The agency reports that the options market indicates traders anticipate an even higher rise in the cryptocurrency's value in the weeks ahead. Fadi Abualfa, the research leader at the crypto brokerage Copper, remarked that Bitcoin hitting $150,000 appears “more and more certain.”
The report revealed that the all-time high market capitalization of cryptocurrency happened with the US Congress passing its first federal legislation on stablecoins.
The legislation, backed by Republicans and advocated by President Donald Trump, suggests establishing federal or regional regulation of stablecoins tied to the dollar. The aim of the initiative is to regulate a $265 billion market, which, as per analysts at Citigroup Inc., may expand to $3.7 trillion by 2030.
Investors remained engaged in actively investing in American spot exchange-traded funds (ETFs). In July, the total influx of money into Bitcoin funds reached $5.5 billion, while Ethereum-ETF saw $2.9 billion, the agency noted.
source: bloomberg.com
The report revealed that the all-time high market capitalization of cryptocurrency happened with the US Congress passing its first federal legislation on stablecoins.
The legislation, backed by Republicans and advocated by President Donald Trump, suggests establishing federal or regional regulation of stablecoins tied to the dollar. The aim of the initiative is to regulate a $265 billion market, which, as per analysts at Citigroup Inc., may expand to $3.7 trillion by 2030.
Investors remained engaged in actively investing in American spot exchange-traded funds (ETFs). In July, the total influx of money into Bitcoin funds reached $5.5 billion, while Ethereum-ETF saw $2.9 billion, the agency noted.
source: bloomberg.com
