The Growth of Cryptocurrency Due to Favorable Macroeconomic Conditions

According to Odaily, market analyst Linh Tran from XS.com emphasized that the recent price increase of cryptocurrencies is partly due to favorable macroeconomic conditions and the growing interest from institutions. The weakening of the US dollar has also increased the appeal of Bitcoin as an alternative store of value. In terms of policy, Tran pointed out positive developments, such as the approval of a bill in Texas to establish a state-controlled Bitcoin reserve fund, indicating the increasing acceptance of Bitcoin as a long-term reserve asset by legislative bodies.$BTC