Stablecoin Bill Dey Spur Rally: BTC Near $120K, ETH Pass $3.5K
US Congress don pass stablecoin bill wey build on previous infrastructure amendments wey clarify digital-asset tax and regulatory standards. Dis stablecoin bill dey bring regulatory clarity for issuers and exchanges, e reduce uncertainty for DeFi projects.
Because of dis, Bitcoin rise go near $120,000, e even test $121,000 small—higher than the previous record of $70,000 wey happen during the legislative momentum led by Senators Lummis and Gillibrand. Ethereum climb pass $3,500 for the first time since early 2023.
Industry people like BitMEX founder Arthur Hayes and Cathie Wood talk bullish forecasts for Bitcoin and Ethereum prices, wey make market confidence strong.
General market trends like rebound in US June retail sales, drop for jobless claims, and TSMC’s 61% profit growth in Q2 push S&P 500 and Nasdaq to record highs. Traders dey link this crypto rally to renewed interest in spot Bitcoin ETFs and better regulatory clarity.
Though the stablecoin bill and ETF momentum fit attract institutional inflows, crypto markets still dey volatile. Traders suppose manage risk with stop-loss strategies and dey watch regulatory votes wey dey come.
Bullish
Di pass di stablecoin bill plus di dey clear infra amendments don reduce di yawa wey dey regulatory side over digital assets wella. Dis tori boost Bitcoin go $120,000 sharply, plus e push Ethereum pass $3,500 as market people dem dey take advantage of di new interest for ETF and DeFi growth chance. Industry big men bullish prediction join body to support di upward waka. Short term, dis matter fit make trading hustle increase plus pesin fit see some small pullback wey dey normal for nakey market dem. Long term, di clearer regulation fit bring institutional investors come ground, undergird steady growth. Overall, e good for Bitcoin plus Ethereum dem.