The cryptocurrency market gained 1.58% in global market capitalization over the past 24 hours, buoyed by anticipation of a U.S. Senate Banking Committee vote on a crypto bill scheduled for May 14. Bitcoin rebounded into the $80,000s following a minor sell-off, while Ethereum traded near $2,300, according to a report from CoinGape.
This uptick comes as investors weigh the potential regulatory implications of the upcoming vote. The Senate panel's decision could provide clearer legal frameworks for digital assets, a factor that often influences market sentiment. Broader crypto adoption and institutional interest have been key narratives driving recent price movements.