(Updated with latest prices and altcoins)
Investing.com — Bitcoin held above $64,000 on Saturday as the world’s largest cryptocurrency maintained its rally from this week’s decline toward $61,000, as investors continued to digest new U.S. regulatory developments, growing institutional adoption and expectations that the next cryptocurrency bull market could deliver more stable, rather than explosive, gains.
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The world’s leading cryptocurrency was trading at $64,197.6 as of 1:15 p.m. ET (5:15 p.m. GMT), up 0.60% on the day after hitting an intraday high of $64,489.8.
A major political development came as a four-year ban on a US central bank digital currency (CBDC) was set to take effect under a housing bill automatically becoming law after President Donald Trump refused to sign or veto it.
The restriction prevents the Federal Reserve from issuing a digital dollar until the end of 2030, removing what many in the crypto industry see as a potential competitor to privately issued stablecoins.
Attention has also focused on broader digital asset legislation after Trump’s decision not to sign the housing bill raised questions about whether the Digital Asset Market Clarity Act could face political delays if it reaches the White House later this year.
Institutional adoption continued to gain momentum after Circle, issuer of the stablecoin, received final approval from the Office of the Comptroller of the Currency to create a national fiat bank overseen by the federal government.
The approval allows Circle to provide digital asset custody services under direct federal oversight and could potentially pave the way for OCC-supervised management of USDC reserves.
The approval adds to a growing list of crypto companies obtaining federal banking licenses, highlighting the sector’s gradual integration into the traditional financial system.
Despite the improving fundamentals, some analysts are urging investors to moderate their expectations for Bitcoin’s next cycle. Although forecasts ranging from $300,000 to $500,000 by 2029 remain common,…
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