Bitcoin Surpasses $84,000 Amid US Tokenised Stock Regulatory Decision
Bitcoin rose above $84,000 on Monday as a regulatory decision by the U.S. Securities and Exchange Commission (SEC) regarding tokenized equities boosted sentiment in cryptocurrency markets. The SEC granted a temporary five-year exemption allowing eligible trading venues to facilitate blockchain-based transactions of US equities under specific conditions. This move is seen as encouraging innovation while maintaining investor protections, leading to gains for crypto-related stocks like Coinbase, MicroStrategy, and Robinhood. The broader market also benefited from lower oil prices and positive developments in U.S.-China trade discussions, which supported risk assets. However, the outlook remains cautious due to potential constraints from higher US Treasury yields and expectations of further Federal Reserve rate hikes. Most major cryptocurrencies followed Bitcoin's upward trend with Ethereum rising over 5%, XRP up nearly 7%, and several altcoins posting significant gains.
Topics: Bitcoin market sentiment SEC regulation tokenised equities