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The interaction of affirmative Bitcoin-related legislative and regulatory advancement yet trickles down to BTC terms arsenic the apical cryptocurrency rallies supra $101,000.
Key takeaways:
Bitcoin rallies to $101,707 against a backdrop of beardown fundamentals successful the regulatory and accepted concern space.
Traders are assured that $100,000 volition clasp arsenic support.
Bitcoin (BTC) terms rallied supra $100,000 connected the heels of US President Donald Trump’s announcement of a “trade deal” with the UK, which could perchance see the removal of the broad 10% tariff connected each imports.
Frequent societal posts from President Trump and nationalist comments from White House furniture members person hinted astatine a fistful of commercialized deals successful dialog with assorted countries, and markets person responded positively to the messaging. In summation to the UK commercialized deal, the US is acceptable to conscionable with Chinese officials successful Switzerland connected May 10.
The Dow gained 500 points pursuing the White House announcement, portion the S&P 500 roseate 1.47%, and Bitcoin trades adjacent $101,600 astatine the clip of writing.
In a Truth Social post, Trump wrote:
“Many different deals, which are successful superior stages of negotiation, to follow!”The value of Bitcoin’s instrumentality to six-figure territory aft trading beneath the level since February was not mislaid connected investors:
In an X post, fashionable autarkic marketplace expert Macroscope said helium was “watching intimately now,” and stressed the value of BTC “holding” the $100,000 level arsenic a support, alternatively than a little popular supra the intelligence absorption level.
X / MacroScope While the archetypal surge done the $100,000 level appears to beryllium driven by $241 cardinal successful futures marketplace liquidations, the governmental and concern situation surrounding Bitcoin has seen immense improvements since the past clip BTC traded supra six figures.
In the past week, the governors of 2 US states person signed bills, which present marque it ineligible for the states to found strategical Bitcoin reserves. On May 8, the legislature successful the US authorities of Missouri sent Bill 594, a measure which would end each superior gains taxes, to the table of Governor Mike Kehoe.
Related: Strive to go Bitcoin treasury institution
On May 7, the US Office of the Comptroller of the Currency (OCC) confirmed that banks wrong its jurisdiction tin “responsibly” trade crypto connected behalf of their customers, and they tin besides “outsource” crypto and custodial activities to trusted 3rd parties.
🇺🇸 LATEST: The Office of the Comptroller of the Currency confirms that nationalist banks and national savings associations “may prosecute successful definite cryptocurrency activities.” pic.twitter.com/4EuJ6A7OUI
— Cointelegraph (@Cointelegraph) May 8, 2025In precocious March, the FDIC issued guidance giving banks the greenish airy to clasp crypto assets and connection assorted goods and services to clients. In summation to increasing legislative and regulatory enactment for Bitcoin and different cryptocurrencies, inflows to the spot Bitcoin ETFs person soared, alongside expanding buying and BTC treasury from US-based and planetary publically listed companies.
Spot Bitcoin ETF inflows (weekly). Source: SoSoValueThis nonfiction does not incorporate concern proposal oregon recommendations. Every concern and trading determination involves risk, and readers should behaviour their ain probe erstwhile making a decision.
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