With regulatory spring breezes, the crypto market warms up for Valentine's Day
Today (February 14), the cryptocurrency market welcomes a long-awaited rebound. Bitcoin briefly returned above $70,300, with a 24-hour increase of over 5%; Ethereum also strengthened, breaking through the $2,100 mark, with a maximum increase of over 7%.
The direct trigger for this market movement comes from the policy front. U.S. Treasury Secretary Yellen sent a significant signal, indicating that Congress is advancing the (Digital Asset Market Clarity Act), with plans to establish federal regulatory rules for digital assets by this spring. This statement greatly reassured market sentiment and was interpreted as a crucial step in the process of compliance.
Despite the market sentiment remaining in the 'extreme fear' range, and trading volume not significantly increasing, it shows that the capital attitude is still cautious. However, analysis indicates that the easing of inflation data and the expectation of clearer regulations have provided a short-term respite for the market after a sharp decline.
