<\/p>\n\n\n\n
Bitcoin extended its rally on Wednesday, inching closer to its all-time high after the U.S. Senate made key progress on the GENIUS Act, a landmark piece of legislation designed to establish a federal regulatory framework for stablecoins.<\/p>\n\n\n\n
The leading cryptocurrency rose 1.4% to $107,595.50 as of 01:42 ET (05:42 GMT), consolidating near a four-month high and within striking distance of its record peak of $109,288 reached in January.<\/p>\n\n\n\n
Regulatory Tailwinds Boost Crypto Sentiment<\/strong><\/p>\n\n\n\n Tuesday\u2019s Senate vote to advance the GENIUS Act was widely viewed as a watershed moment for the digital asset sector, signaling increasing bipartisan support and regulatory clarity. The bill, which had previously faced hurdles in Congress, is now headed for a full Senate floor vote, after which it could land on President Donald Trump\u2019s desk for final approval.<\/p>\n\n\n\n This legislative progress complements the Trump administration\u2019s earlier move in March to establish a Strategic Bitcoin Reserve\u2014an initiative aimed at bolstering U.S. leadership in the global digital asset space. Together, these steps are helping drive institutional adoption and confidence in the long-term viability of crypto markets.<\/p>\n\n\n\n Macro Risks Loom Over Crypto Rally<\/strong><\/p>\n\n\n\n Despite the positive regulatory developments, broader macroeconomic and geopolitical risks are tempering upside momentum.<\/p>\n\n\n\n Tensions between Washington and Beijing have resurfaced, with China slamming new U.S. export controls on AI chip technologies. Beijing has accused the U.S. of “bullying” and hinted at potential retaliation, a threat that could strain the fragile trade d\u00e9tente established earlier this year.<\/p>\n\n\n\n At the same time, Federal Reserve policymakers struck a cautious tone on Tuesday. Several officials warned that rising tariffs could reaccelerate inflation, making it difficult for the central bank to lower interest rates in the near term. This prospect of a \u201chigher-for-longer\u201d rate environment could cap risk-on sentiment and weigh on speculative assets like cryptocurrencies.<\/p>\n\n\n\n Still, Bitcoin\u2019s sustained strength underscores its growing appeal as a hedge against economic and geopolitical uncertainties, particularly amid ongoing concerns over U.S. fiscal health and global financial stability.<\/p>\n\n\n\n Altcoins Track Bitcoin Higher; $TRUMP Leads Meme Token Rally<\/strong><\/p>\n\n\n\n The broader cryptocurrency market mirrored Bitcoin\u2019s gains, with most major altcoins posting modest advances.<\/p>\n\n\n\n Meme tokens also participated in the rally. Dogecoin (DOGE)<\/strong> rose 2.8%, while $TRUMP<\/strong>\u2014a token tied to the former president\u2019s digital initiatives\u2014soared 12.1%, buoyed by his ongoing crypto-friendly stance and headline momentum.<\/p>\n\n\n\n As Bitcoin hovers near its all-time high, markets will be watching closely for developments on Capitol Hill and any signals from the Federal Reserve that could shift the crypto landscape in the weeks ahead.<\/p>\n","protected":false},"excerpt":{"rendered":" Bitcoin extended its rally on Wednesday, inching closer to its all-time high after the U.S. Senate made key progress on the GENIUS Act, a landmark piece of legislation designed to establish a federal regulatory framework for stablecoins. The leading cryptocurrency rose 1.4% to $107,595.50 as of 01:42 ET (05:42 GMT), consolidating near a four-month high …<\/p>\n","protected":false},"author":9,"featured_media":98301,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[40,6827,49,39,36],"tags":[],"class_list":["post-114688","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-cryptocurrencies","category-daily-economic-reports","category-economic-reports","category-global-stock-markets","category-market-updates"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/114688","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=114688"}],"version-history":[{"count":1,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/114688\/revisions"}],"predecessor-version":[{"id":114689,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/114688\/revisions\/114689"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/98301"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=114688"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=114688"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=114688"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}\n