Bitcoin prices rose to a record high on Wednesday, Internet reported. The rebound in bitcoin and the broader crypto market in recent weeks has been attributed to regulatory gains, including the stablecoin bill introduced by the U.S. Senate after a group of Democrats dropped opposition on Monday. The industry-backed regulatory bill is currently being debated in the Senate, and a bipartisan group hopes to pass it as soon as this week. Michael Novogratz, founder and CEO of Galaxy Digital, said in an interview on Wednesday: "This is a shift from former SEC Chairman Gensler and the SEC to the Trump administration, which has accepted our industry. This releases the 'animal spirit' at home and abroad (i.e. market vitality and investment enthusiasm)."