Crypto Markets Edge Higher Amid Political and Regulatory Crosscurrents
The cryptocurrency market cap rose 0.6% to $3.2 trillion in muted Monday trading, with Bitcoin gaining 0.7% to $91,271 and Ethereum climbing 1.2% to $3,128. The advance came despite 63 of the top 100 coins declining and spot ETF outflows totaling $343.8 million for BTC and ETH products.
Political risk shadows the sector as US prosecutors investigate Fed Chair Jerome Powell, potentially undermining central bank independence. Bitcoin's institutional appeal grows during such uncertainty—its relative stability contrasts with traditional finance's vulnerability to political winds.
Regulatory developments loom: South Korea may lift its corporate crypto investment ban, while Coinbase threatens to oppose US stablecoin legislation if rewards are restricted. Trading volumes sagged to $87.2 billion, well below recent averages, as fear dominates market sentiment.
