As traders prepare for the weekend price surge, the main driver is linked to a new regulatory exaggeration from the U.S.
Immediately, the enactment of the GENIUS Act spurred the rise in cryptocurrency prices, and the assets continue to benefit from the gains derived from the increase. The House of Representatives' approval of the CLARITY Act and the State Anti-CBDC Surveillance Act contributed to the rise in cryptocurrency prices over the weekend.
Another reason behind the excellent performance of prices is the outlook for future rate cuts by the Federal Reserve following the release of new economic data. Federal Reserve Chair Mary Daly has advocated for two interest rate cuts, while Federal Reserve Chair Jerome Powell faces increased political pressure.
Institutional interest also influences the rise in cryptocurrency prices, with Bitcoin and Ethereum treasury firms absorbing assets. Other altcoin treasury firms are also ramping up their activity, while positive reports on XRP and Ethereum ETFs drive the price surge.