Why are Bitcoin, Ethereum, and Dogecoin Price Surging Today?

Bitcoin (BTC) price created a local low of $104,480 today and is up 0.50%. Following BTC’s footsteps, Ethereum (ETH) and Dogecoin (DOGE) prices are up 1.48% and 0.86%, respectively, at the time of writing. The bullish momentum can be attributed to the passing of the GENIUS stablecoin act. The bill passed a key procedural vote (cloture) with a 66-32 margin. This secures the bill enough support to limit debate and move toward a full Senate floor vote. Another reason for this recent enthusiasm can be seen by using blockchain data, which shows spot investors are buying the dips as BTC price inches closer to an all-time high retest.