Smart Money Floods into Crypto as BTC Price Surges Past $77,000
A rebound in Bitcoin's price has been attributed to 'smart money' by Cosmo Jiang, portfolio manager at Pantera Capital.
The price of BTC surged over 23% in the past week to around $77,412 and touched a high of $79,319 on Friday.
Jiang cited positive U.S. regulatory developments as key drivers for further adoption and price upside.
This includes news that President Donald Trump met with crypto executives and urged lawmakers to pass the Clarity Act, which aims to clarify which digital assets are overseen by the SEC or CFTC.