Bitcoin's decline and growing US political interest in crypto - Crypto Roundup

Proactive's Billy Farrington provides a summary of recent developments in the cryptocurrency market. Over the past week, Bitcoin showed less volatility compared to the previous week but remained underwhelming. The cryptocurrency's value dropped by approximately 6% against the US dollar, despite a brief 2% increase following a US wholesale inflation report. However, it declined again after consumer inflation data was released, which was unexpected as softer inflation figures usually benefit risk assets like Bitcoin. This decline was partly attributed to a significant $1 billion outflow of Tether stablecoins, suggesting reduced risk appetite among crypto traders. Furthermore, the discussion touched on recent political developments in the US, where cryptocurrency is becoming a bipartisan issue. While Donald Trump has positioned himself as a pro-crypto candidate, recent remarks from Democratic leaders, including Senate Majority Leader Chuck Schumer, indicate a growing interest in supporting common-sense regulation for the crypto industry. This suggests that cryptocurrency could become a key topic in upcoming US presidential debates. #bitcoin #Cryptocurrency #CryptoNews #Tether #Stablecoin #USPolitics #CryptoMarket #Inflation #RiskAssets #Blockchain #CryptoRegulation #Bipartisan #DonaldTrump #ChuckSchumer #CryptoCommunity #FiatToCrypto #MarketAnalysis #ProactiveInvestors #USInflation #CryptoTraders #ProactiveInvestors #invest #investing #investment #investor #stockmarket #stocks #stock #stockmarketnews