Analyst: Cryptocurrency Rebound Partly Due to Favorable Macro Environment and Institutional Influx
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Market analyst Linh Tran stated that the recent rebound in cryptocurrencies is partly due to a favorable macro environment and institutional influx. The weakening of the dollar has also enhanced Bitcoin's appeal as an alternative store of value. In terms of policy, Tran pointed out some positive developments, such as the approval of a bill in Texas, USA, to establish a state-controlled Bitcoin reserve, indicating that more legislative bodies are accepting Bitcoin as a long-term reserve asset. (Jin10)
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