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Bitcoin The rise in a new all-time high on Wednesday broke its January record.
According to the coin metric, the price of flagship cryptocurrencies lasted 2% to $108,955.10. Earlier, it rose as much as $109,500.
“Bitcoin’s new heights are made up of a series of favorable ingredients in the macro cauldron, namely, the softer inflation volume in the U.S., a decline in the U.S.-China trade war and a downgrade of the depressed U.S. sovereign debt has placed value stores such as Bitcoin in numerous stores,” Antev seev said.
Bitcoin sets a new record on Wednesday
"We entered an alternative universe, with global macro concerns peaking in early April, and Bitcoin fell to $74,000," he added. "As a broader agreement between the United States and China is defeated, it is possible to open a three-month window for risky assets."
Bitcoin’s price has steadily risen in May, with Bitcoin rising 16% so far. The cumulative tracking of cumulative inflows into ETFs exceeded $40 billion last week and had only two days outflows in May.
The data on the chain also shows lower sales pressures, as shown by increased liquidity in Bitcoin inflows and crypto markets, as measured by new records of the volume of stablecoin USDTAccording to crypto literacy, this is a series of crypto market liquidity, sitting on communication.
Steven Lubka, Swan Bitcoin’s private client and home office, said investors expect upcoming catalysts, including regulatory updates and corporate fiscal investments, to increase Bitcoin prices. According to the Bitcoin Treasury, the amount of Bitcoin held by listed companies has increased by 31% since the beginning of this year.
He added that given the current market conditions, it is the best risk-reward moment for Bitcoin in the past eight years.
Earlier this week, the Senate voted to advance legislation that would create the first regulatory framework in the U.S. for stablecoins, a key sector in the cryptocurrency market. President Donald Trump said he wanted to see cryptocurrency regulation on the table and was ready to sign in August before Congress recession.
Similarly, this month, Coinbase joined the S&P 500 benchmark stock index, and Wall Street praised the watershed in the cryptocurrency industry.