Bitcoin continued to rise on Wednesday, approaching its all-time high, after the U.S. Senate passed the GENIUS Act, an important bill for regulating stablecoins, overcoming previous legislative hurdles.
The largest cryptocurrency in the world rose by 1.4% to $107,595.50 at 08:42 AM Saudi time.
The currency appeared to be in a consolidation phase near its highest level in four months. It was on the verge of surpassing its record level of $109,288, which it reached in January.
Bitcoin near record level; trade fears and uncertainty about the Fed limit the rise.
This increase aligns with a broader rise in digital assets this month, driven by positive political shifts under President Donald Trump and a temporary improvement in trade relations between Washington and Beijing.