Cryptocurrency investors are having a fantastic week as the market outlook suddenly brightens. Bitcoin was already on an upward trend, but the recent inflation data and a significant shift in the Biden administration's stance on cryptocurrencies have made investors even more optimistic. So, what's going on?

Latest Developments in Cryptocurrency

Today, or by tomorrow at the latest, US lawmakers are expected to vote on a new cryptocurrency bill in Congress. Last week, a bipartisan bill that aimed to limit the SEC's power over crypto had already raised hopes. Now, with the introduction of another bill, the regulatory pressure on cryptocurrency investors in the US is expected to lessen. For the most up-to-date financial and business news, visit COINTURK FINANCE.

Additionally, recent reports indicate that the cryptocurrency market structure reform bill, known as FIT21, will not be vetoed. Despite some criticisms of the bill, President Biden's unexpected decision not to veto it, contrary to his previous statements, is clearly boosting market prices.

As a result, Bitcoin's price has surged by approximately $400, and further increases are likely as more news emerges in the coming hours.

In conclusion, the Biden administration's surprising change in attitude towards cryptocurrencies is fueling optimism and driving prices higher. This could mark a significant turning point for cryptocurrency investors in the US.