Bitcoin price today: Rise to $104.5K as stablecoin bill advances

Bitcoin rose on Tuesday as the U.S. Senate moved forward with a major bill to regulate stablecoins, indicating increased institutional support for the cryptocurrency sector, while investors await a critical vote on proposed tax cuts from President Donald Trump.

The largest cryptocurrency in the world increased by 1.1% to $104,560 at 09:31 Saudi time, remaining close to its four-month high reached on Sunday.