In a cheerful moment for the digital currency world, the United States Congress has removed a rule that influenced Bitcoin (BTC) and other cryptocurrencies. This rule, known as SAB-121, aimed to stop banks and financial firms from dealing with Bitcoin and crypto assets. However, after efforts from pro-crypto lawmakers, the Congress voted to repeal it, marking a significant victory for the crypto space.

Despite this positive development, Bitcoin's price hasn't shown much movement, dropping slightly to $65,277.86 in the last 24 hours. There's been notable volatility, with over $13.5 million in liquidated funds within a short time frame. Ethereum, another major cryptocurrency, also experienced a 1.33% drop to $2953.14. Analysts suggest that Ethereum is struggling to surpass Bitcoin, despite its efforts.

In response to the news, certain cryptocurrencies like Toncoin (TON) and Dogecoin (DOGE) saw declines of 4.68% and 1.80% respectively. However, some altcoins like Solana (SOL) and Shiba Inu (SHIB) benefited from the market volatility, with SOL rising by 4.22% to $160.12 and SHIB maintaining a 2.21% increase to $0.0000245.

The reaction wasn't limited to cryptocurrencies; crypto-related stocks also saw shifts. Coinbase (COIN) experienced an 18.18% drop to $201.73 per share, while Robinhood (HOOD) saw a marginal decrease of 0.32% to $18.20. Other stocks like Hut 8 (HUT) and Marathon Digital (MARA) also saw slight losses.

Despite this positive move from the Senate, the ultimate decision lies with President Joe Biden, who needs to sign the Bill into law for it to take effect. However, there's uncertainty as President Biden had previously hinted at vetoing the Bill, complicating the situation. This uncertainty affects corporations like Morgan Stanley and Wells Fargo, which have started gaining exposure to Spot Bitcoin ETF products.

In conclusion, while the Congress's decision to repeal SAB-121 is a step forward for the crypto market, there's still uncertainty surrounding President Biden's stance. The outcome of his decision will significantly impact the future of Bitcoin and other cryptocurrencies in the broader market.