This feature enables merchants to connect to a crypto market worth over $3 trillion by allowing instant crypto-to-stablecoin or fiat currency conversion
So far this month, Ethereum has surged nearly 59 per cent. Despite the recent rally, ETH remains 19 per cent below its all-time high of $4,891, reached in November 2021
Bitcoin has fluctuated in the range of $116,550 - $119,239 in the last 24 hours, with a trading volume of $62.97 billion
The approval of these crypto-related bills, analysts said, has boosted investor confidence and added regulatory clarity, driving strong upward momentum across the market
The flagship cryptocurrency's market cap has soared to $2.43 trillion, cementing its position as the largest cryptocurrency by market capitalisation and making it the fifth-largest asset globally
The rally in Bitcoin, market analysts said, is being driven by a confluence of macroeconomic factors including anticipated US rate cuts, a weakening dollar, and ongoing trade negotiations
Alongside Bitcoin and Ethereum, other altcoins within the top 10 displayed strength and were trading above their respective support levels
Market analysts, however, remain optimistic about the long run and expect the impact on the crypto market to be negative only in the short term
Bitcoin, however, has remained above the $109,000 mark as bulls maintain control despite brief selling pressure from US nonfarm payroll data, said analysts
Market analysts suggest that the ceasefire alleviated immediate concerns about global oil disruptions and restored geopolitical stability, elevating the confidence of the crypto bulls
The sudden escalation, analysts said, triggered widespread panic across the crypto market, resulting in over $1 billion in liquidations-primarily from overleveraged long positions
Analysts believe that the regulatory developments such as the GENIUS Act and Thailand's recent five-year tax exemption policy are shaping a new global crypto landscape
Market analysts suggest that Bitcoin's current consolidation near $107,000 reflects short-term seller control
Bitcoin ETFs have now seen five consecutive weeks of inflows totaling over $600 million, led by BlackRock's IBIT, despite some outflows from some funds
The $100K mark, analysts said, remains a critical psychological and liquidation level, with over $3.4 billion in long positions exposed to downside risk if selling pressure continues
Despite the sideways action, Bitcoin dominance has steadily increased to 63.46 per cent, indicating a lower risk appetite among investors
Bitcoin's market capitalisation stood at $1.88 trillion, the highest among the cryptocurrencies
According to CoinGlass data, a break above the $95,000 mark could trigger liquidations of nearly $700 million in short positions, easing selling pressure and setting the stage for the next leg up
Investors' confidence, analysts said, stands strong as the White House plans to establish the Bitcoin Strategic Reserve using alternative government revenue sources
The sell-off extended into the crypto markets too, with Ethereum (ETH), the world's second-largest cryptocurrency by market capitalisation, taking the worst hit among other popular cryptocurrencies