Bitcoin, the most traded cryptocurrency, broke a new price record today, reaching almost $109,499.76. A wave of optimism in the US about the regulation of the crypto sector pushed the digital currency up, Agence France-Presse reported, quoted by BTA.
Thus, bitcoin surpassed its previous record, registered on January 20, the day of the inauguration of President Donald Trump. Then, in the first months of Trump's second term, the price of the cryptocurrency fell for some time due to the lack of concrete actions that he had promised.
Bitcoin benefited from "broad bipartisan support" in the US regarding the regulation of stablecoins - digital assets considered safer than the more speculative tokens in the sector, explains John Plassard of "Mirabaud" (Mirabaud).
Democrats "agreed to a (regulatory) framework dictated by Republicans", the analyst emphasizes.
The digital currency is also supported by a more favorable macroeconomic climate as the US returns to international agreements, which is reassuring investors, analysts say.
On May 8, the virtual currency again crossed the $100,000 mark for the first time since February after the announcement of the US-UK trade agreement.
The temporary agreement for a 90-day pause on most mutually imposed tariffs between China and the US also helped improve the economic outlook.
Bitcoin reached its previous high of $109,241.11 on January 20, just hours before Trump was inaugurated as US president.