Bitcoin ready for the third consecutive month of gains

Bitcoin was trading up about 3.5% in June, with a combination of optimism about U.S. monetary policy, trade progress, and bets on interest rate cuts helping to drive risk flows into the cryptocurrency. Bitcoin also hit a record earlier in the month.

The biggest support for Bitcoin was the progress of a stablecoin regulation bill in Congress, which highlighted President Donald Trump's commitment to implementing more cryptocurrency-friendly regulation.

Signs of government adoption continued with mortgage giants Freddie Mac (OTC: FMCC) and Fannie Mae (OTC: FNMA) signaling that they will consider using cryptocurrencies as collateral in real estate loans.

In addition to signs of institutional adoption, risk appetite was boosted last week by a ceasefire between Israel and Iran, which appeared to be holding.