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Bitcoin hits $77,500 amid market rebound
The value of Bitcoin rose to around $77,500 as the market recovered from its weekly losses, supported by encouraging regulatory movements from the U.S. Securities and Exchange Commission (SEC), which allowed companies to offer tokenized stock trading via blockchain technology for five years. This development enhances the prospects for the integration of digital assets with traditional finance and boosts market confidence. Factors such as falling oil prices, Treasury bond yields, and easing signals from the Bank of Japan also contributed to supporting the overall digital currency market. This comes after the failure of the Clarification Act in Congress and the continued dominance of the SEC in regulating the sector, with the agency’s chairman affirming that regulatory measures will persist despite the Senate's vote to reject the bill.
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