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Binance Research’s Weekly Market Commentary Report Highlights Bitcoin’s ATH and Regulatory Developments
- Bitcoin reached a new all-time high, up 17.8% year-to-date, influenced by easing global trade tensions and stablecoin legislation advancements.
- U.S.-China trade progress eased market tensions, with Bitcoin benefiting and achieving a record high.
- Global fund flows are moving away from the U.S. dollar, impacting the DXY index and Treasury yield curve.
- Bitcoin showed a 6.3% weekly gain, while Ethereum dropped significantly, and gold continued as a safe-haven asset.
- Key upcoming events include economic indicators, Fed Chair Powell's speech, and major crypto conferences.
- Bitcoin's performance stood out with a new high, while Ethereum saw a recent surge in market cap.
- U.S. spot Bitcoin ETPs experienced inflows, reaching an all-time high total of $43.4 billion.
- The GENIUS Act, advancing in the U.S. Senate, could impact stablecoin regulations positively.
- The proposed GENIUS Act includes provisions for oversight, bank-like regulations, and reserve requirements for stablecoins.
- The cryptocurrency market capitalization is at $3.46 trillion, with Bitcoin trading around $111,149.
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