According to Odaily, a recent report by 10x Research highlights that Bitcoin's recent all-time high is not driven by market speculation but by deeper macroeconomic changes. The report points to the U.S. raising its $5 trillion debt ceiling, significant deficit spending, and an upcoming cryptocurrency policy report from U.S. President Donald Trump's task force as factors reshaping the macroeconomic landscape.
The report suggests that Bitcoin has evolved into a macro asset used to hedge against unrestrained fiscal spending, marking a fundamental shift in its narrative. The Federal Open Market Committee (FOMC) meetings on July 22 and 30 may serve as key catalysts in redefining Bitcoin's role within the financial system.
Data indicates that seasonal factors in July, a surge in bullish options purchases, and a wave of short liquidations have collectively contributed to the recent price increase.
