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Crypto

AI Summary

  • Bitcoin's recent rally faltered just below $97,000, with retail traders largely staying out of the market and uncertainty surrounding institutional demand impacting sentiment.
  • A Senate committee has delayed the markup of a significant crypto market structure bill after Coinbase withdrew its support, raising concerns about potential regulatory clarity in the U.S. crypto landscape.
  • Bitcoin's price dynamics are now influenced heavily by a surge in ETF inflows, with speculation that the asset could reach $100,000 if it can maintain support around $98,000 amidst increasing whale accumulation.
  • Regulatory pressure continues, with House Democrats urging the SEC to take action on notable enforcement cases, signaling ongoing scrutiny of major players in the crypto space like Justin Sun and Ripple.
  • Stablecoins are becoming a focal point of concern for traditional banking, with Bank of America’s CEO warning that interest-bearing options could significantly withdraw deposits from banks, adding to the financial ecosystem's volatility.

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