Cryptocurrency Surge Attributed to Favorable Macroeconomic Conditions

According to Odaily, XS.com market analyst Linh Tran has highlighted that the recent rally in cryptocurrencies is partly due to favorable macroeconomic conditions and increased institutional interest. The weakening of the U.S. dollar has also enhanced Bitcoin's appeal as an alternative store of value. On the policy front, Tran noted positive developments, such as the approval of a bill in Texas to establish a state-controlled Bitcoin reserve, indicating growing acceptance of Bitcoin as a long-term reserve asset by legislative bodies.