$BTC Market Dynamics and Contributing Factors
The recent increase in the price of Bitcoin is attributed to several key factors:
Easing of Trade Tensions between the U.S. and China: A 90-day trade agreement between the United States and China, announced on May 12, temporarily reduced import tariffs, alleviating economic uncertainties and boosting investor confidence.
Regulatory Advances: The progress of the U.S. Senate on a bipartisan bill to regulate stablecoins has been positively perceived by the market, signaling a more structured approach to cryptocurrency regulation.
Institutional Adoption: The rise in interest and institutional investment in Bitcoin has provided an additional boost to its price increase.