Good morning, brothers. $BTC is consolidating, but mainstream coins like BNB and SOL are starting to lose momentum!
Yesterday, the U.S. Treasury Secretary said that stablecoin legislation may be completed by mid-July.
If this regulation passes, it will be beneficial for DeFi tokens such as Uni, MKR, and AAVE.
At the same time, Trump continues to criticize Powell, saying "Too late, Mr. Powell"
and the entire Federal Reserve Committee should be ashamed for not cutting interest rates.
A change in leadership at the Federal Reserve is on the agenda.
In the best-case scenario, there should be three interest rate cuts this year,
if so, there is still potential in the market this year, and BTC breaking $150,000 is not a problem.
Trump's son's company has started raising $220 million to develop Bitcoin mining operations,
now they are not just spending money to buy coins, but want to further start mining,
which represents a long-term optimism about BTC business,
we just need to follow Trump’s family, after all, they have insider information.
Recently, there is another big event, which is that the U.S. is about to pass the "Big and Beautiful" bill,
this will increase the government deficit by $5 trillion,
Musk mentioned that if the "Big and Beautiful" bill passes, a new political party will be established in the U.S. the next day.
This will have a profound impact on our crypto circle, and the bill is likely to pass, greatly reducing the credibility of the U.S.
Foreign capital reducing holdings in U.S. Treasuries has become a structural trend,
after the outflow of dollars and U.S. Treasury funds, some will go to Asian stock markets,
some will go to gold,
and some will flow into BTC, strengthening BTC's position as a replacement for the dollar.
From on-chain data, Coinbase continues to see BTC outflows.
Since May, over 100,000 BTC has flowed out of all exchanges,
which is a bit frightening, as the whales continue to accumulate.
Next, we need to wait for this Thursday's non-farm payroll data
and the details of Trump's tariff negotiations to see a real big market movement.
For now, we remain patient and wait for a market turning point.
