Bitcoin Eyes $112K Resistance as Regulatory Cheers Bolster Confidence

Bitcoin edged higher on Monday, rising 1.2% to $109,457.90 as of 01:18 ET amid a modest rebound from last week's record peak near $112,000. According to FMP's Cryptocurrency Daily API, trading volumes remain healthy, underscoring ongoing institutional participation.

Profit‑Taking but Strong Momentum

After vaulting to nearly $112,000 on Thursday, Bitcoin slid to $107,000 on Friday as investors booked gains—yet IG analysts note that profit‑taking volumes were “less than half” of levels seen when Bitcoin first hit $100,000 in December, signaling robust upward momentum. Short‑term support is expected around $102,000-$102,500, cushioning any technical pullbacks.

Regulatory Tailwinds Build Global Consensus

U.S. and Hong Kong lawmakers last week advanced comprehensive stablecoin frameworks, underscoring a coordinated push for clarity in crypto markets. The U.S. Senate's passage of the GENIUS Act—tracked in real time via FMP's Crypto News API—and Hong Kong's fiat‑stablecoin licensing bill both reinforce institutional confidence and invite further bank‑led initiatives, including reported talks among major U.S. banks to launch a joint stablecoin.

Fed Skepticism Remains a Wildcard

Despite the regulatory optimism, Minneapolis Fed President Neel Kashkari reiterated his view of cryptocurrencies as speculative instruments in a recent Bloomberg TV interview. Market participants will watch upcoming Fed statements—such as Kashkari's next speech date, which you can track via FMP's Economics Calendar API—to gauge if central bankers become more crypto‑friendly or double down on caution.

With favorable regulation on the horizon and healthy trading patterns, Bitcoin's path back toward last week's highs looks clear—provided that geopolitical and monetary policy risks don't derail the rally.