Today in crypto, Bitcoin bullishness has returned on social media after several recent retests close to its all-time high. Meanwhile, US stablecoin legislation moves closer to a Senate vote, and Ukraine eyes adding cryptocurrencies to its national reserves.
Bitcoin bulls are roaring back as BTC flirts with $112K
Bitcoin’s several breakouts past $110,000 this week have pushed bullish market sentiment to a seven-month high, which was last seen during US President Donald Trump’s election win.
As of June 11, there are 2.12 positive Bitcoin comments for every negative comment on social media, crypto analytics platform Santiment said in a June 11 X post.
This is the highest ratio since Nov. 6, the day after Trump won the presidential election, when Bitcoin surpassed $70,000 for the first time.
Retail interest in Bitcoin has been lagging this cycle, with Bitcoin’s price gains attributed to institutional and nation-state adoption. A positive shift in retail sentiment could be an additional boon for Bitcoin.
Santiment data for June 11 tallied 504.54 positive sentiment Bitcoin comments, while 237.71 comments were negative, amounting to a ratio of 2.12. Santiment tracks Bitcoin market sentiment on X, Reddit, Telegram, 4Chan, Bitcoin Talk and Farcaster.
GENIUS stablecoin bill passes key vote, advances in US Senate
In a 68-30 vote, the US Senate chose to advance the Guiding and Establishing National Innovation for US Stablecoins, or GENIUS Act, more than a month after it was introduced.
Speaking from the Senate floor on Wednesday, Majority Leader John Thune urged members of Congress to support the bill, echoing many of US President Donald Trump’s talking points on digital assets, including that the legislation would help make the US the “crypto capital of the world.”'
A majority of senators, including several Democrats, voted to invoke cloture for the bill, setting it up for debate and a full floor vote before potentially sending it to the House of Representatives for further consideration.
“We want to bring cryptocurrency into the mainstream, and the GENIUS Act will help us do that,” said Thune.
Crypto asset reserve bill lands in Ukraine’s parliament
Ukrainian lawmakers have introduced a draft bill that would allow the National Bank of Ukraine (NBU) to include cryptocurrencies like Bitcoin in the country’s reserves.
Submitted to Ukraine’s parliament, the Verkhovna Rada, on Tuesday, bill number 13356 proposes amendments to the law “On the National Bank of Ukraine” regarding the inclusion of crypto assets alongside gold and foreign currencies.
While authorizing the central bank to acquire cryptocurrencies like Bitcoin (BTC) as part of state reserves, the bill would not require the authority to do so, according to Yaroslav Zhelezniak, a member of parliament who confirmed the introduction of the bill on his Telegram channel.
The central bank would retain full discretion over whether to allocate any portion of its reserves to crypto, how much to allocate and when to do so.
“How, when and how much should be the decision of the regulator itself,” Zhelezniak said.
Although leaving the final decision to the NBU, the lawmakers support the creation of a potential state crypto asset reserve as a step that will integrate the country into global financial innovations, Zhelezniak said.