Bitcoin Regains Lost Ground and Spurs Hope for a New Record
Bitcoin is moving upward today and could be preparing to reach a new record above $111K in the near future.
Quick overview
- Bitcoin has climbed back above $105K, reaching $105,886, and is now just 5.41% away from its record high.
- Concerns about new tariffs and a stagnating economy are currently hindering Bitcoin's growth potential.
- Upcoming regulations on stablecoins in the U.S. could serve as a major catalyst for Bitcoin's price increase.
- Investors should closely monitor legislative updates, as successful regulation could propel Bitcoin to new highs.
Live BTC/USD Chart
Will Bitcoin (BTC) be able to set a new record high soon? That looks more possible than ever now that it has climbed out of its slump and is back above $105K.
Bitcoin has reached $105,886 (BTC/USD), close to $106K and up 0.77% from the previous day. That is great news for investors who would like to see Bitcoin regain its record high and set a new record. For nearly two days, the BTC price has hovered between $104K and 105K, and that caused concern for investors who thought it might drop further and shatter consumer confidence in the token.
Now just 5.41% away from its record high, Bitcoin is climbing into exciting territory for investors, as it could attain a new record as early as this weekend. The coin is being held back by new tariff fears, as China and the United States struggle to negotiate. The coin is also being hindered by a stagnating economy, thanks in part to a new payroll report that says private payrolls stayed nearly flat for the month of May.
The Major Catalyst to Watch
There is one factor that will likely supersede most others in 2025 when it comes to Bitcoin and the cryptocurrency market, and that is regulation. A recent legislative framework was pushed forward in the U.S. government that would rework regulations for stablecoins. When news broke that this was happening, the crypto market climbed quickly, with Bitcoin achieving a new high.
The momentum from that news has faded since then, but there will likely be new updates to share about that legislation’s movement through the government until its approval. As those updates are shared, Bitcoin is likely to climb, along with the rest of the crypto market.
Investors should be watching for news of that emulsion closely, as that is likely to be the chief factor that pushes Bitcoin to new highs this year. If the coin is going to achieve a high of $150K or even $200K, that legalization will likely need to pass without much hindrance. When it does pass, it will open the door for the growth of the crypto industry.
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