Crypto legislation expected to boost bullish morale! Bitcoin surges back to $80,000, reaching a three-month high.

Attention, Bitcoin has surpassed $80,000 for the first time in three months, while Asian stock markets are approaching record highs. The world's largest cryptocurrency rose 2.1% to $80,594 on Monday, reaching its highest level since January 31. Other smaller tokens, including Ethereum, also saw gains. As cryptocurrency rises, the MSCI Asia Pacific stock index is approaching its historical high set in February. Strong performance by tech companies last week exceeded expectations, boosting investor risk appetite and driving the stock market higher. The market is currently digesting conflicting signals regarding the situation in Iran. US President Trump stated that the US will start directing non-conflict-related ships through the Strait of Hormuz, but a senior Iranian official warned that the Iranian government will consider any US intervention in the strait as a violation of the ceasefire agreement. Bitcoin hit a historical record slightly above $126,000 in October last year, then went through several months of decline, dropping to around $60,000 in February this year. Since then, the token has gradually recovered, partly due to improved institutional demand. Data shows that the US Bitcoin exchange traded funds recorded a net inflow of $630 million last Friday. Sean McNulty, head of derivatives trading for Falcon X in the Asia-Pacific region, said that institutional activity in the derivatives market indicates a high level of confidence in the market to rise to $85,000 in mid-April. Richard Galvin, Executive Chairman of crypto investment company DACM, stated that market optimism about a possible agreement on key stablecoin yield terms in the US has also boosted trader confidence, potentially clearing the way for cryptocurrency policies in the Senate to move forward. He added that it is still in the "early stages," but $80,000 has always been an "important psychological barrier." As of press time, Bitcoin has given back some of its gains, trading slightly above $80,000. Caroline Moron, co-founder of Orbit Markets, stated that if Bitcoin clearly breaks through the $80,000 mark, it will provide "further upward momentum for these types of assets."