Bitcoin climbed by 1.1% to $104,560 as of 09:31 ET, driven by the U.S. Senate’s cloture vote advancing the GENIUS Act and anticipation of President Trump’s proposed tax cuts. Real-time traders leveraged analytics tools to monitor price shifts and volume changes in Bitcoin and other leading cryptocurrencies.

Stablecoin Legislation Makes Progress

The GENIUS Act, which aims to establish a regulatory framework for stablecoin issuers, received procedural approval from the Senate on Monday. This key development reflects rising institutional confidence. Clear regulatory pathways could encourage more investments in stablecoins and decentralized financial assets.

Technical Trends and Institutional Adoption

Bitcoin’s rise past $107,000 on Sunday was fueled by algorithmic trading during periods of low weekend liquidity. Four-month trends indicate strong price appreciation and rising volatility. Data analysis tools support back-testing entry points through historical trends.

Key Insights:

• Regulatory Support: A stablecoin framework could facilitate banks and asset managers in increasing their cryptocurrency allocations.

• Macro Influences: The impending House vote on tax cuts may sway dollar strength and impact Bitcoin’s attractiveness as a safe haven.

• Data-Driven Trading: Integrate live price feeds with historical data to accurately manage risk in trading strategies.