Bitcoin briefly hit an all-time high after the advancement of stablecoin legislation in the US stoked hopes of regulatory clarity under President
The largest cryptocurrency climbed as much as 2.7% to a record $109,856, before paring much of the gain while broader financial markets retreated. The previous high was set at roughly the time of Trump’s inauguration on Jan. 20. Smaller tokens such as
Bitcoin and the broader crypto market have rallied in recent weeks thanks to regulatory tailwinds including the stablecoin bill