📈 #Bitcoin Touches New High Amid Political and Legislative | Cleta Hegener jkSH on Binance Square

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📈 #Bitcoin  Touches New High Amid Political and Legislative Tailwinds
Bitcoin surged past $123,000—a record high—before settling near $119,750. This rally aligns with heightened legislative momentum and institutional ETF inflows, largely driven by the Biden-to-Trump transition and supportive policies
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🔑 Main Reasons for #Bitcoin’s Price Surge 1️⃣ U.S. Political Shift Boosting Crypto Sentiment • With the upcoming presidential transition (Biden to Trump), markets expect pro-crypto policies. • Trump’s campaign has openly supported Bitcoin mining, ETF approvals, and light-touch regulation. • This created a wave of institutional optimism pushing Bitcoin prices higher. ⸻ 2️⃣ Institutional ETF Inflows • Spot Bitcoin ETFs continue to attract large amounts of capital. • Major funds like BlackRock, Fidelity, and Ark Invest are buying Bitcoin at record levels. • Over $1.2 billion in inflows came into Bitcoin ETFs in just the last week. ⸻ 3️⃣ Global Economic Uncertainty • Rising global debt, inflation concerns, and weakening traditional currencies (like Yen and Euro) make Bitcoin attractive as a “digital safe haven.” • Investors are moving from gold to Bitcoin for long-term value storage. ⸻ 4️⃣ Reduced Selling Pressure • Many long-term Bitcoin holders are refusing to sell, reducing supply on exchanges. • BTC reserves on exchanges are at their lowest since 2017. ⸻ 5️⃣ Upcoming Halving Cycle • The last Bitcoin halving in April 2024 reduced new Bitcoin supply by half. • Historically, halving cycles lead to post-halving bull runs due to scarcity. ⸻ 6️⃣ Asia Market Reopening • Hong Kong and parts of China are starting to allow regulated crypto trading again. • This is bringing in fresh liquidity from Asian markets. $BTC

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📊 #Ether Riding Institutional Inflows Higher Ethereum has outperformed Bitcoin recently, trading robustly above $3,100 thanks to heavy inflows—US-listed spot ETH ETFs saw record $900 million+ last week, with potential to exceed $1 billion shortly. Major firms are increasingly addin ETH to their treasuries $ETH

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🌐 #Shanghai Considers Stablecoin Regulation Shanghai’s state regulator convened about 60 – 70 officials to explore a Yuan-pegged stablecoin—a marked departure from China’s 2021 crypto ban. This may pave the way for Chinese firms like JD.com and Ant Group to launch such tokens from Hong Kong once new regulations take effect August 1

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🇺🇸 #U.S. “Crypto Week”: Congress Eyes Pro-Crypto Legislation The week of July 14 was officially declared “Crypto Week” by the U.S. House of Representatives. Three major bills—including the Genius Act, CLARITY Act, and Anti-CBDC Surveillance State Act—are being debated, creating optimism around regulatory clarity for stablecoins and digital assets

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🏦 #Standard_Chartered_Enables_Institutional_Crypto _Trading Standard Chartered has begun offering spot trading for Bitcoin and Ether (USD pairs) to its institutional clients—first among global banks. They plan to add non-deliverable forwards soon. This marks a pivotal step in integrating crypto into traditional finance through regulated platforms $ETH $BTC

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