Bitcoin (BTC) fell slightly on Tuesday, trading in a tight range after hitting an all-time high last week, as investors turned their attention to the opening of the Bitcoin 2025 conference in Las Vegas later in the day.

The world's largest cryptocurrency fell 0.6% to $108,962.20 as of 01:58 ET.

Bitcoin surged to an all-time high of nearly $112,000 last Thursday, but then gave back some of its gains as profit-taking and whales traded at high levels.

Still, prices remain near all-time highs, supported by favorable regulations and optimism about increased institutional adoption.

Bitcoin hit an all-time high last week as both the U.S. and Hong Kong moved forward with important regulatory moves aimed at establishing a comprehensive framework for stablecoins.

In the United States, the Senate advanced the Guidance and Establishment of a United States Stablecoin National Innovation Act (GENIUS Act). Meanwhile, Hong Kong’s Legislative Council passed a landmark stablecoin bill that introduces a licensing framework for issuers of stablecoins pegged to fiat currencies.

Investors also saw a shift in sentiment on Wall Street amid reports that major U.S. banks were considering launching a joint stablecoin project.

The market is now looking forward to the Bitcoin 2025 conference which starts on May 27 at the Venetian Expo in Las Vegas.

This year’s conference is expected to be the largest yet, attracting more than 30,000 attendees, featuring more than 400 speakers, and 5,000 participating companies.

Notable speakers at the event include Michael Saylor, Justin Sun, Jack Mallers and Robinhood (NASDAQ:HOOD) CEO Vlad Tenev.

U.S. Vice President JD Vance, Senator Cynthia Lummis, SEC Commissioner Hester Peirce and economist Peter Schiff will also be in attendance.

With Bitcoin hovering near all-time highs, the event is expected to boost additional interest and momentum.

Trump Media & Technology Group (NASDAQ:DJT) (TMTG) on Monday denied a Financial Times report that it plans to raise $3 billion to invest in cryptocurrencies such as Bitcoin, calling the report's author "stupid" and the source unreliable.

TMTG, a media company backed by the Trump family, and its subsidiary Truth Social are seeking to raise $2 billion in equity and $1 billion in convertible bonds to finance large-scale cryptocurrency purchases, the Financial Times reported on Monday, citing six people familiar with the matter.