Bitcoin (BTC) reached a new all-time high above $100,000, driven by several factors, including the nomination of Paul Atkins as chair of the SEC. Citi believes that Bitcoin's rally is also fueled by ETF flows and growing adoption. The bank states that a more permissive regulatory environment could benefit other digital assets more than Bitcoin, which already has established infrastructure. Citi expects a new regulatory system to unlock more use cases for blockchain assets and broaden the asset class. Despite the recent price surge, there hasn't been a notable rise in on-chain activity.



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