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US President Donald Trump took to Truth Social and stated that he was with 11 of the 12 Congressmen and Congresswomen needed to pass the much-anticipated GENIUS Act. According to Trump’s post, all 11 members have agreed to vote in favor of the legislation. The GENIUS Act aims to bring more clarity and regulatory oversight into the stablecoin arena in the US. Let’s discuss if the legislation will have a positive impact on Bitcoin (BTC) and the larger cryptocurrency market. Source: Truth Social Can The GENIUS Act Help Bitcoin Hit $140,000? Source: Watcher.Guru The GENIUS Act does not have anything to do with the larger cryptocurrency market. The legislation will deal with uncertainties in the stablecoin industry. While stablecoins are not directly linked to the performance of other crypto assets, the legislation could lead to a general bullish environment. Such a development could help Bitcoin (BTC) and other crypto assets. The GENIUS Act could pave the way for other legislati...

Fund manager ARK Invest raised its most optimistic Bitcoin price prediction to $2.4 million by 2030—up from $1.5 million previously—citing accelerating institutional adoption as a key driver. ARK analyst David Puell detailed the updated forecast in an April 24 report, also raising the firm’s bear and base case targets to $500,000 and $1.2 million, respectively. Each scenario reflects growing confidence in Bitcoin’s integration into the traditional financial system. In the bull case, Puell projects Bitcoin could capture 6.5% of the $200 trillion global financial market, driven by its increasing appeal as both a store of value and a macro hedge. He also sees BTC potentially taking 60% of gold’s $18 trillion market cap as it becomes widely accepted as “digital gold.” Bitcoin Supply On Exchanges Drops To Lowest Level In Over 6 Years Supporting the narrative of accelerating institutional adoption, Fidelity Digital Assets noted in an April 24 post...

The Bitcoin price climbed 2% in the last 24 hours to trade at $60,645 as of 03:11 a.m. EST on trading volume that surged 30% to $34 billion. This comes as Jenny Johnson, Franklin Templeton’s CEO, says that traditional finance (TradFi) is underestimating the enormous scale of Bitcoin transactions. In 2023, the Bitcoin blockchain processed over $36.6 trillion in transactions as the market recovered from a tough year, more than Visa and Mastercard combined, Johnson said. Bitcoin Price Aims For A Bullish Rally The Bitcoin price has been trading within a sideways pattern, as the bulls and the bears battle it out within a consolidation phase. BTC has been trading between the $61,000 resistance and the $56,670 support, according to data from GeckoTerminal . The price of Bitcoin has now crossed above the 50-day Simple Moving Average (SMA) as the bulls aim to prompt a bullish stance to the upside. If the bullish rally continues, the price of Bitcoin could surpass the immediate resist...