Bitcoin Smashes $99K! But Can It Hold Without Stablecoin Laws?
Bitcoin broke $99K as stablecoins flood in — but experts warn that without proper laws, gains may not last.
Bitcoin has surged past $99,000 on May 8, powered by a wave of stablecoin inflows — a classic signal that big money is entering the market. As a result, the total crypto market cap has hit $3 trillion, with bulls eyeing even higher levels.
But behind the celebration, there’s concern.
Bitwise CIO Matt Hougan recently warned that without clear stablecoin regulations — like the GENIUS Act — these gains could be at risk. In a May 5 article, he noted that institutional investors are still holding back due to legal uncertainty. Political shifts could undo recent progress if legislation stalls.
Despite the warning, Hougan remains optimistic: he believes a bill will pass and that the market may reach new all-time highs this year.
Are we headed for $120K or a policy-induced pullback? Share your view in the comments, and stay with Trafy.io for market-moving insights.
