This is the first time Bitcoin has surpassed $110,000. This brings Bitcoin's gains to 5.67% in the past seven days, 25.12% in the past month, and 56.10% in the past year.
Bitcoin's rally is due to a combination of favorable factors: easing of US-China trade tensions, slowing US inflation, Coinbase's inclusion in the S&P 500, and Moody's US
Bitcoin has suddenly emerged as a safe haven following the downgrade of the country's credit rating. As a result, the cumulative inflows into exchange-traded funds (ETFs) tracking the price of Bitcoin rose to 40 billion last week.
Bitcoin has been steadily flowing in since it broke the $100 billion mark and only had two days of outflow in May. It is likely to rise even further in the future. Recently, the US Senate passed a resolution to impose a 100% 100% rule on cryptocurrencies.
The U.S. is pushing for legislation that would create the first U.S. regulatory framework for stablecoins, a core sector of the cryptocurrency market. If passed, the bill would allow institutional investors to buy stablecoins.
It is expected to be widely adopted. This is expected to contribute greatly to the further rise of Bitcoin. Meanwhile, when Bitcoin rose, other coins also rose in unison.
Bitcoin (BTC) rose 1.44% to $2,561, while Ripple rose 1.94% to $2.40.
2025/05/22 10:32 KST
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