PDAXScope: BTC rises, stablecoins surge, US Senate advances bill

Bitcoin reclaims 97k price amid selling pressure from old whales (CryptoSlate)

Bitcoin has climbed to around $97,000 in spite of whales selling off their holdings. This selling pressure normally pushes prices down, but strong buying from other investors has helped Bitcoin keep rising.

However, analysts are watching closely, as these whales selling could mean prices might be volatile in the near term.

Global demand grows for non-dollar stablecoins, says Fireblocks exec (Cointelegraph)

Demand is rising for stablecoins not tied to the U.S. dollar, according to Fireblocks, a trusted platform used by banks and crypto firms to securely move and store digital assets.

More and more countries are reportedly exploring stablecoins backed by local currencies such as euros or yen for cross-border payments and to reduce reliance on the U.S. dollar.

U.S. Senate Moves Toward Action on Stablecoin Bill (CoinDesk)

The U.S. Senate is moving forward on a new bill that will clearly regulate stablecoins. Lawmakers are hoping to set specific rules to make stablecoins safer and more trustworthy.

If passed, this stablecoin bill would define who can issue stablecoins, how they must maintain their value, and what kind of oversight they'll face – making it easier and safer for businesses and investors to use them.

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