Bitcoin has reclaimed above $105,000 due to strong institutional interest and positive legislative changes in the US.
Institutional Investments in Bitcoin
On June 17, Bitcoin marked its seventh consecutive day of inflows with a total of over $216 million into crypto products. SoSoValue data indicates that since June 9, BTC ETFs have seen significant inflows, with June 16 recording a peak day of over $412 million.
Passage of GENIUS Act in US Senate
On June 17, the US Senate voted 51-23 in favor of the GENIUS Act. This legislation represents the first major crypto-related law to clear the chamber and signals the restoration of US leadership in the crypto industry.
Optimism in the Crypto Industry
The upcoming FOMC meeting is an important event where interest rate decisions will be made, influencing Bitcoin's price trajectory. Optimism in the crypto industry continues to grow, fueled by strong support for innovation and increasing global user adoption.
The continued institutional investments in Bitcoin and positive legislative developments generate significant interest in the crypto industry and create positive expectations for the future.
