Bitcoin (BTC) surpassed the $106,000 mark, recording an increase of 0.81% over the past 24 hours, but faced resistance at the $107,000 level, leading to a decline in alternative coin prices.
Ethereum (ETH) supply on centralized exchanges has dropped to its lowest level in over a decade, indicating increased institutional buying.
BNB rose to $650, an increase of 2.15% over the past 24 hours.
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🏛️ Regulatory Developments
The "GENIUS" bill to regulate stablecoins has advanced in the US Senate, aiming to establish a legal framework for issuing stablecoins and ensuring transparency and consumer protection.
A stablecoin bill has advanced in the US Senate, receiving a procedural vote of 66-32, indicating broad support for regulating this type of digital currency.
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🏦 Institutional Movements
JPMorgan Chase announced it will allow clients to purchase Bitcoin, a surprising shift from CEO Jamie Dimon, who has been one of the cryptocurrency's harshest critics.
Kraken has expanded its derivatives trading in Europe, reflecting growing interest in European markets.
Bitwise plans to launch exchange-traded funds focused on income from digital currency options, including Bitcoin and Ethereum.
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⚠️ Notable Events
$HAWK coin scandal involving influencer Hallie Welch, who admitted to not understanding digital finance while promoting the coin, resulting in significant losses for investors and investigations by authorities.
Coinbase's listing on the S&P 500 is considered a significant step for the cryptocurrency industry, despite some regulatory concerns about the company's business model.
