Bitcoin rose 2.3% to $64,282.9 by 18:25 ET, on track for its best day in over a month. The advance came after the world's largest cryptocurrency shed nearly 3% last week. Crypto market participants were looking ahead to a White House meeting later in the week involving top leaders from the industry.
Market Outlook
Bitcoin had been weighed down last week by a combination of Middle East jitters, regulatory setbacks, and the disclosure of more sales by top corporate holder Strategy. Continued capital outflows from spot Bitcoin also clouded the mood.
Regulatory Developments
The US Treasury is seeking public comment on the issuance, offering, and sale of payment stablecoins under the GENIUS Act. The CFTC is expected to discuss more crypto regulation at a meeting on Thursday. Other cryptocurrencies, including BNB, XRP, and Solana, also saw gains, while Cardano shed 1%. Strategy's Bitcoin position remains unchanged at 840,447 tokens, valued at approximately $53.4 billion at current prices.