Legal developments stir crypto market

A report indicated that the prices of Bitcoin and Ether rose significantly after U.S. President Donald Trump called on Congress to pass a bill regulating the cryptocurrency market, providing a clearer regulatory framework and supporting sector growth in the United States. This support led to an increase in digital currency tokens, especially Ether, which surged by 20% over 24 hours, alongside a decline in U.S. Treasury bond yields, making high-risk assets like Bitcoin more attractive. Experts also forecasted that Bitcoin's price could reach around $100,000 by the end of 2026, amid a wave of short-covering positions, increased market volatility, and Ether reaching its highest level in three months.

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