Bitcoin seems to be standing its ground as a store of value as of Sunday. At the same time, U.S. President Joe Biden closes ranks towards clearing an epic $1.9 trillion stimulus package to aid in the economic recovery. 

As at press time, BTC is exchanging hands near $50,500, a 4% gain in value by the day. Earlier in the day, having hit the high mark of $51,320 as per CoinDesk data. 

Senate passed Biden’s stimulus pack on Saturday, allowing for the $1,400 checks supporting the jobless aid. However, the bill now heads back for voting in the House, according to the media. 

Over the last 48 hours, BTC remains within the range of $49,500 to $46,200. A spike in fiscal spending hits back with inflationary sentiments. Part of the consequence is boding well with assets storing the value like gold and now BTC. 

Also, the spike in BTC arises from the Meitu, a firm with lasting in Hong Kong. They deal with video and image processing software. Meatus’ purchase of $22 million in Ether (ETH) and $17.9 million in BTC adds to their treasury holdings.

The rise in BTC indicates a fall of FOREX, especially the US Dollar. More especially, it portends a rise in risk sentiment. BTC is moving opposite to the US Dollar.

We’ll see how BTC behaves once the stimulus gets final approvals. On the spot is the 10 US treasury yields, currently rising with a bounce-back of the economy and emitting significant downward pressure to metals and stocks.

Finally, a weekend happening: Uniswap’s UNI token rises to among ten. A first among DeFi coins to reach such a high feat.

Currently, UNI is oscillating near $32 – an upward shift of 14% per 24-hour basis. UNI’s entire market cap is $16.79 billion, the eighth largest, and officially going past Litecoin and Chainlink, according to Messari.