Last night, the biggest news was that the GENIUS stablecoin bill passed the Senate's second procedural motion vote. Although this does not mean the bill has passed, the next steps involve the Senate debating and amending, the Senate's final vote, House review, coordination between the two chambers, and presidential signing. Although there is still a long way to go before the bill is finally legislated, the earliest it could happen is in August. However, this stablecoin bill has a significant impact on crypto.
What exactly are the benefits of this bill for crypto?
First, it brings a huge capital exposure. The stablecoins we are currently using, USDC and USDT, are still considered niche assets in Wall Street's eyes. What limits large capital from entering is actually compliance and regulation. If the stablecoin bill passes, then institutions will have no more concerns. Some institutions predict that this bill will lead to the stablecoin market size increasing from 200 billion to 2 trillion US dollars. If this is the case, the liquidity and bull market of altcoins will really be something to look forward to.
Last night, AAVE, FXS, ENA, PENDLE, and CRV basically had an increase of about 10-20%. Currently, aside from playing such concepts, there are no other options in the secondary market. The upcoming market may have to return to mainstream narratives such as RWA, AI, DeFi, and memes. However, a real altcoin bull market must wait until Bitcoin hits a new high, so everyone should be patient.
The conditions for the bull market in the second half of the year are already in place:
FTX will release $5 billion in liquidity at the end of the month.
The Federal Reserve's interest rate cut expectations for the second half of the year.
The US stablecoin bill has been passed.
The US credit crisis has benefited both gold and Bitcoin.
Above are some certain events, of course, there are other potential positives. In short, there are great opportunities in the second half of the year. Everyone must not fall before dawn, stay away from contracts, and maintain necessary cash flow.
The real market for altcoins will definitely be after Bitcoin reaches a new high:
Current observations show that every round of altcoin explosions is basically inseparable from Bitcoin's 'leading charge'.
In simple terms, once Bitcoin breaks the previous high, both capital and sentiment will quickly heat up, giving altcoins a chance to take off. From October 2023 to March 2024, and from November to December 2024, both rounds saw Bitcoin surge first, followed by altcoins gradually starting. In this round, Bitcoin’s key point is at $110,000. If it reaches this position, the altcoin market may gradually begin, and whether altcoins perform well will also depend on Bitcoin's strength.
Currently, many altcoins' movements actually seem to be in a brewing stage, with quite consistent specific patterns. Prices are narrowing, looking like they are about to explode, but prices are not rising high. Whether there will be a breakthrough next depends on Bitcoin's attitude. If Bitcoin successfully breaks $110,000, it will be like a command, directly igniting market sentiment, and the bullish pattern will be officially established.
At that time, many altcoins will start to surge at lightning speed. But if Bitcoin hesitates at this position and chooses to move sideways for a while, the lower edge of the wedge may actually become a good buying opportunity. Of course, most altcoins' 'wedge patterns' have not yet reached the final stage; many are still in the middle, so fluctuations may continue. If you are still waiting for the right entry opportunity, it might be good to keep a close eye on Bitcoin's movements: if it breaks through, it may bring about a collective market; if it continues to adjust, we will patiently wait at the lower edge.
In short, if you want to catch altcoins, wait for BTC to spike; if you want altcoins to explode, wait for BTC to break new highs!
Brothers, come to the chat room to gather:
