Bitcoin Hits $96,750 as Coinbase Stalls Senate Crypto Bill

Bitcoin surged to $96,750 today, marking a fresh two month high for the leading cryptocurrency. While Ethereum gained 2 percent to reach $3,360, other assets saw mixed results. Ripple dipped slightly to $2.11, but the company continues its growth by securing a new operating license in Luxembourg. Privacy coins like Zcash and Monero also grabbed headlines, with Zcash clearing its SEC investigation and Monero hitting a new all time high of $800 before settling back to $725.

Regulatory friction remains a key focus after Coinbase withdrew support for a pending Senate crypto market structure bill. The exchange raised significant concerns regarding the latest draft, which prompted lawmakers to delay the vote. This move signals that crypto firms are becoming more vocal about specific legislative language as the industry pushes for clearer rules in the United States.

Elsewhere, infrastructure updates continue to shape the market. The Sui network successfully resumed operations after a six hour outage, and the Human Rights Foundation issued $1.3 million in grants to support Bitcoin freedom projects. FTX creditors can also look forward to March 31, as the exchange finalized timing details for its next round of payments. Traders should watch for further updates on the Senate bill and keep an eye on how altcoins react to the current Bitcoin price strength.