India, May 22 -- Bitcoin soared to an all-time high of $111,861 amidst a bullish momentum catalyzed by expectations of greater regulatory clarity in the U.S., massive flows to Bitcoin Spot ETF products, concerns about the deteriorating U.S. fiscal outlook and an atmosphere of global economic uncertainty.
Expectations of a regulatory clarity for cryptocurrencies got a boost as the stablecoin regulation progressed towards a Senate vote. Regulation of stablecoins by the U.S. government is expected accord greater legitimacy to cryptocurrencies and bolster the adoption of the asset class at a larger level than hitherto.
Inflows to Bitcoin-based Spot ETF products in the U.S. recorded $607 million on Wednesday as compared with inflows of $329 mi...