Bitcoin price today: gains to $104,500 as the US Senate advances stablecoin legislation
Bitcoin rose on Tuesday as the US Senate introduced a significant stablecoin regulation bill, signaling greater institutional support for the cryptocurrency sector, while investors awaited a crucial vote on proposed tax cuts by President Donald Trump.
The world's largest cryptocurrency rose 1.1% to $104,560 at 09:31 ET (13:31 GMT), remaining near the four-month high reached on Sunday.
Bitcoin surged over $107,000 on Sunday, with gains of about $2,500 in less than an hour during late Sunday trading, likely driven by low weekend liquidity and algorithmic buying at important technical levels.
"With Bitcoin trading at $105,000, we may have reached a maturity point where the confidence, security, and liquidity of the largest cryptocurrency have made it a sanctuary amid ongoing market uncertainty," said Petr Kozyakov, co-founder and CEO of global payment infrastructure provider Mercuryo, to Investing.com.
As BTC evolves into a "fully institutional asset, TradFi may now be seeking greater exposure to the emerging DeFi space, where new protocols and financing methods continue to emerge," he added.
