Without further ado, Lao Zhu gets straight to the point
1. Cryptocurrency-related legislation has cleared procedural hurdles in the House of Representatives, with Trump's intervention playing a key role.
2. The report shows that although Bitcoin is on the rise, the cryptocurrency spot trading volume still fell by 22% in the second quarter.
3. Analysis indicates: if Bitcoin pulls back to around $110,000, it may establish a more solid foundation for this round of gains.
4. The Hong Kong Securities and Futures Commission has extended the deadline for professionals to provide virtual asset services to 45 days.
5. A French lawmaker proposed using surplus nuclear power to mine Bitcoin, with projected annual revenue of $150 million.
6. British lawmakers are calling for a ban on accepting political donations in cryptocurrency.
7. Bulgaria sold Bitcoin in 2018, missing out on about $25 billion in debt repayment opportunities.
8. Citigroup is exploring the issuance of stablecoins for cross-border payments.
9. Bank of America plans to launch a stablecoin, currently awaiting clarification of relevant laws before proceeding.
10. ARK Invest sold $8.7 million worth of Bitcoin ETF shares, realizing profits.
11. The US SEC has delayed its decision on the Bitwise Bitcoin and Ethereum ETF physical redemption.
12. The founder of LD Capital stated: There will be a short pause before making further investments, but he is optimistic about the long-term bull market trend in the crypto market.
13. Momentum 6 partners predict: Altcoins may enter a strong cycle for 1-2 months, with Bitcoin expected to break through $150,000.
14. CME is considering launching round-the-clock cryptocurrency trading, explicitly excluding Meme coin products.
Lao Zhu summarizes:
The US turns the table
Trump is pressuring Republican allies to greenlight the crypto bill, with three key points: stabilize stablecoins, decentralize regulatory power, and ban CBDCs. What does it mean? Wall Street will be able to legally print "dollar vouchers" (stablecoins), but the Federal Reserve shouldn't think about creating a digital dollar to snatch business! With this card played, BlackRock and other big players' ETFs are attracting even more capital (exploding by 370% in the second quarter), but the SEC is still dragging its feet—Bitwise's ETF physical redemption? Just keep dragging!
The market is playing a split
Bitcoin is clearly rising, yet the spot trading volume on exchanges has shrunk by 22%! Why? Altcoins are weak and no one is trading them, while gamblers have all gone to open contracts (derivatives trading volume only fell by 3.6%). The ARK queen sold $8.7 million in ETFs, smart money is withdrawing; but QCP says a drop to $110,000 is actually a good thing, stabilizing can lead to higher peaks!
European shenanigans
The French have a unique perspective: no waste of surplus electricity from nuclear power plants, mine Bitcoin! Giva profits $150 million a year, and even benefits from free thermal heating. But the British are being stubborn: "Political donations can't use cryptocurrency, it's dirty!" The worst hit is Bulgaria—selling 210,000 Bitcoin for scraps in 2018, now facing a loss of $25 billion! Enough to cover the national debt!
Traditional giants entering the arena
Bank of America, Citigroup, and JPMorgan are all holding back on stablecoins! The CEO of Bank of America said, "As soon as the regulations are in place, we will issue a coin!" The Chicago Mercantile Exchange (CME) is even more aggressive: ready to trade coins 24/7, but get rid of the garbage coins!
In the short term, focus on the final vote on the House of Representatives' bill (which may push BTC to test $130,000-$150,000) and the reshuffling of stablecoins (Tether's compliance pressure, Circle's market potential)
The profits from nuclear mining have yet to appear in financial reports, while Hong Kong's talent grab overtime has begun—the next wave of policy dividends is being prepared. Are you waiting to watch the K-line, or are you positioning early with me? Follow Lao Zhu for a hand of information and in-depth analysis!
