Bitcoin (COIN:BTCUSD) traded slightly lower early Tuesday, maintaining a tight range just below last week’s all-time high as attention turns to the start of the highly anticipated Bitcoin 2025 Conference in Las Vegas.
As of 01:58 ET, the flagship cryptocurrency was down 0.6% at $108,962.20, retracing modestly after reaching nearly $112,000 last Thursday. The pullback followed some profit-taking and large-volume sales by major holders near peak levels.
Despite the slight dip, Bitcoin prices remain supported near historic highs, underpinned by positive sentiment around emerging crypto regulations and expectations of growing institutional involvement.
Regulatory Progress Fuels Bitcoin Optimism
The recent rally to record highs was driven in part by legislative advances in both the U.S. and Hong Kong. In the U.S., lawmakers progressed the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act, while Hong Kong passed a major regulatory bill creating a licensing framework for fiat-backed stablecoins.
Meanwhile, reports emerged that several top U.S. banks are exploring a joint stablecoin venture, signaling a notable shift in traditional finance’s stance on crypto adoption.
Bitcoin 2025 Conference Set to Open in Las Vegas
All eyes are now on the Bitcoin 2025 Conference, which kicks off May 27 at the Venetian Expo in Las Vegas. Billed as the largest edition yet, the event is expected to draw over 30,000 attendees, include more than 400 speakers, and feature participation from 5,000 companies.
Prominent figures scheduled to appear include Michael Saylor, Justin Sun, Jack Mallers, and Robinhood CEO Vlad Tenev. On the regulatory and political front, speakers include U.S. Vice President JD Vance, Senator Cynthia Lummis, SEC Commissioner Hester Peirce, and economist Peter Schiff.
With Bitcoin near record levels, the conference could act as a fresh catalyst for market enthusiasm.
Trump Media Dismisses $3B Crypto Investment Report
Separately, Trump Media & Technology Group (NASDAQ:DJT) on Monday rejected a report from the Financial Times claiming it planned to raise $3 billion to invest in cryptocurrencies such as Bitcoin. The company, which owns Truth Social, called the story’s authors “dumb” and dismissed the article as based on unreliable sources.
The FT had cited six unnamed individuals familiar with the matter, reporting that TMTG was pursuing $2 billion in equity and $1 billion via convertible bonds for crypto investments.
Altcoins Retreat in Sync With Bitcoin
Other major cryptocurrencies tracked Bitcoin’s slight decline. Ethereum (ETH) dropped 0.5% to $2,558.52, while XRP slid 2.3% to $2.2911. Solana fell 2.7%, Cardano slipped 1.9%, and Polygon lost 3%.
In the meme coin space, Dogecoin shed 1.8%, and $TRUMP fell 2%.