After teasing further corrections last week after the relationship between the relationship between Elon Musk and President Donald Trump, the prize of Bitcoin (BTC) has returned strongly. The flagship Munt collected more than 4 percent in the last 24 hours to reach a local highlight of around $ 110,260, less than 2 percent compared to its all-time high, on Monday 9 June during the Late North American session.
The wider Altcoin market, led by Ethereum (ETH), followed in combination. As a result, the total crypto open interest (OI) rose by more than 6 percent to float around $ 154.8 billion at the time of this writing. Moreover, more than $ 403 million was liquidated from the crypto-delivered market, led by Bitcoin’s $ 197 million.
Important factors that today influence the Bitcoin rally
Favorable regulatory environment
As Coinpedia reported, the chairman of the United States Securities and Exchange Commission (SEC), Paul Atkins, repeated the importance of the self-herb of crypto-assets and clear regulatory frameworks for Defi-Protocols.
The favorite legal frameworks in the United States will have a wrinkle effect in other countries, which makes further crypto acceptance by institutional investors possible.
Big question from institutional investors
The general offer of Bitcoin on centralized exchanges has fallen exponentially in recent years, catalyzed by the great demand of institutional investors. Strategy Inc. Has led dozens of companies to implement a Bitcoin Treasury Management Plan.
The American spot Bitcoin ETFs have continued to accumulate, so that the fastest ETF growth is set up to $ 70 billion in modern history.
Macro -economic prospects
In the recent past, BTC price continued to grow with rising global liquidity. In addition to favoring technical aspects, in which the daily period of BTC registered a golden cross between 50 and 200 MA, the flagship Munt has recorded impressive profit that are fed by the uncertainty in the US economy struggling with a historical debt crisis.