Bitcoin Blasts Past $84,000 on Regulatory Boost

Bitcoin's price surged past $84,000 on Monday as market sentiment improved due to regulatory developments. The SEC granted an exemption for tokenized-stock trading, and new CFTC crypto proposals were sent for White House review.

According to Prateek Gupta, Head of Business at Mudrex, the move was supported by these regulatory developments. He noted that a sharp swing in oil prices also helped trigger a short squeeze.

The global crypto market capitalization rose 4.83% to $2.88 trillion, and Bitcoin closed above its 50-week moving average for the first time in 45 weeks, according to CoinDCX Research Team.