Cryptocurrencies are showing an upward trend amidst investor optimism and anticipated legal changes. Bitcoin is close to hitting the $110,000 mark.
Bitcoin Approaches Record Highs
Bitcoin reached a three-week high of $109,600. This is not just a temporary spike; as a result, cryptocurrencies are starting to attract investor attention.
Altcoin Growth and Expectations
Altcoins like Dogecoin and Ethereum also saw significant increases. Dogecoin rose 8% in the last 24 hours, reaching $0.1743, while Ethereum increased by 6%, trading at $2,599.
Economic Context and Its Impact
Optimism in the markets is boosting hopes for a possible interest rate cut from the U.S. Fed. There are also reports of strong support from President Trump for a new trade deal with Vietnam.
Despite existing macroeconomic risks, the cryptocurrency market is striving for growth thanks to investor optimism and hopes for more accommodating monetary policy.
