Bitcoin edges closer to $78,000

Bitcoin's price has risen to around $78,000, marking its best weekly performance with an increase of over 23%. This surge comes after U.S. President Donald Trump called for the enactment of clear regulatory legislation for digital currencies. The increase occurred amid signs of growing risk appetite in the markets, as investors await new regulatory rules from Congress to enable greater institutional market participation. This has led to a rise in shares of cryptocurrency companies like Circle and Coinbase, as well as altcoins such as Ethereum and XRP, which experienced noticeable jumps.

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