After the relationship between Elon Musk and President Donald Trump last week, the price of Bitcoin (BTC) rebounded after harassing more modifications. Flagship Coin has reached the highest level of $ 110,260, with less than 2 % of the best on Monday, June 9 in North American sessions over the last 24 hours.
The larger Altcoin Market led by Ethereum (ETH) was followed. As a result, the total encryption interest (OI) left more than $ 154 billion at more than 6 % at the time of this article. In addition, more than $ 430 million has been cleared in Crypto-Leveraged Market, which is led by Bitcoin’s $ 170 million.
The main factor that affects the bitcoin rally today
Favorable regulatory environment
As reported by Coinpedia, Paul Atkins, chairman of the US Securities and Exchange Commission (SEC), has repeated the importance of self -search of Crypto assets and the importance of a clear regulatory framework for Defi protocols.
The advantageous regulatory framework in the United States has a ripple effect in other countries, enabling the adoption of institutional investors.
High demand for institutional investors
Bitcoin’s overall supply on the centralized exchange has declined exponentially due to the high demand of institutional investors over the past few years. Strategy Inc. has led dozens of companies to implement the Bitcoin financial management plan.
Bitcoin ETFs in the United States continued to accumulate constantly and recorded the fastest ETF growth in modern history to $ 70 billion.
Macroeconomic outlook
BTC Price has recently increased in the past with the increase in global liquidity. In addition to preferring the technical aspects of the BTC’s daily period of 50 mA and 200 mA, the main coin has made an impressive interest in the short -term uncertainty of the US economy, which is struggling with the historical debt crisis.