Bitcoin jumps past $108k amid market optimism

June 26, 2025 (MLN): Bitcoin surged past $108,000, reaching an intraday high as investors shrugged off recent Middle East tensions and a near-record stock market.

However, trading across the crypto sector remained mixed, with ether and solana both slipping modestly in afternoon trading.

Washington played a central role in Wednesday’s crypto developments.

Federal Reserve Chair Jerome Powell, during his testimony before the Senate Banking Committee, noted the stablecoin industry’s significant maturation and its increasing integration into the mainstream financial system.

Meanwhile, William Pulte, director of the Federal Housing Finance Agency, directed Fannie Mae and Freddie Mac to explore the use of cryptocurrency holdings in mortgage qualification, a move that may have further buoyed bitcoin’s momentum.

Pulte’s family founded Pulte Group, one of the largest homebuilders in the United States.

Legislative developments added to the crypto spotlight, as CNBC reported.

A new Senate bill introduced Tuesday aims to establish clear regulatory guidelines for digital assets.

Senator Cynthia Lummis, who leads the Senate Banking subcommittee on digital assets, discussed the legislation on CNBC’s “Squawk Box” Wednesday.

She emphasized the need for U.S. leadership in global crypto rulemaking and cited existing frameworks in overseas markets.

In another major development, the New York Stock Exchange advocated for a rule change to allow the launch of a bitcoin and ethereum ETF tied to former President Donald Trump’s Truth Social.

If approved by the SEC within 90 days, the move could mark another step in Trump’s growing involvement in the crypto space.

Elsewhere, Yuval Rooz, CEO of Digital Asset, discussed his company’s recent $135 million funding round with Crypto World.

The round, backed by Goldman Sachs and Citadel Securities, highlights increasing institutional interest in the sector.

Rooz outlined plans for utilizing the new capital to advance the company's initiatives in the blockchain ecosystem.

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