Bitcoin has surged to a new all-time high of $109,486, driven by significant inflows into spot exchange-traded funds and positive regulatory developments in the U.S. Analysts believe this rally is more sustainable than previous ones due to favorable market conditions and a lack of speculative enthusiasm.
Congressional legislation is required for the establishment of a Bitcoin reserve, emphasizing the necessity for regulatory clarity and support from lawmakers to facilitate the integration of Bitcoin into the financial system. The move aims to enhance the legitimacy of cryptocurrency assets within the economy.