FX.co ★ Bitcoin Surges to Fresh Record

In mid-July, Bitcoin ascended beyond $116,000, achieving a new all-time high, fueled by robust institutional interest and favorable policies from the Trump administration. Since the beginning of the year, the cryptocurrency has appreciated by nearly 22%. This surge follows President Trump's March executive order that established a strategic cryptocurrency reserve and ushered in several crypto-advocates to key positions. Additionally, the Trump Media & Technology Group initiated a filing with the SEC to unveil a crypto ETF, which aims to invest in a diversified portfolio of digital assets, thus enhancing the legitimacy of institutional involvement. Investors are keenly observing the upcoming "crypto week" starting on July 14, when lawmakers are slated to evaluate pivotal legislation concerning digital asset regulation. Meanwhile, markets remain vigilant amidst escalating trade tensions, with recent FOMC minutes indicating that a majority of officials are amenable to reducing interest rates this year, a move that is generally perceived as favorable for Bitcoin.