News: Triple action, regulatory framework implemented
On July 17, the U.S. House of Representatives voted on three cryptocurrency bills in a row, marking a 'Crypto Week' nuclear-level operation:
(Genius Bill) (308 votes in favor): Mandates 100% reserves for stablecoins, algorithmic stablecoins are sentenced to 'death', compliant institutions like Circle become the biggest winners, and the future $2 trillion stablecoin market could become a 'cash machine' for U.S. Treasury bonds. Clear Bill: 294 votes in favor: SEC and CFTC responsibilities are separated. Bitcoin and Ethereum are clearly under CFTC jurisdiction; as long as altcoins are sufficiently decentralized, they can transform from 'securities' to 'commodities', completely escaping the SEC's 'Howey Test' grip. Directly prohibits the Federal Reserve from issuing a digital RMB-style CBDC, defending the privacy baseline of Web3, while stablecoins continue to securely hold the position of 'digital dollar'.
Technical Analysis:
BTC surged 3.5% today, breaking through $122,000 directly. The 4-hour K-line shows: the lower level of $118,000 is a dense area for institutional accumulation, while the upper level of $125,000 is the last defense line for bears. On-chain data is even more explosive: whale addresses increased their holdings by 15,000 BTC in the past 24 hours, and Grayscale unlocked 16,200 BTC yesterday; $550 million worth of chips were picked up by institutions right after landing.
Personal Opinion: Regulatory certainty = signal for institutional entry
This bill is not 'bad news exhausted', but 'good news realization'! Look at two cases:
Coinbase: Clearly states support for the clear bill; traditional institutions finally dare to enter the altcoin market after clear regulations. Circle: Backed by the genius bill, USDC reserves are fully invested in US Treasury bonds. Now every USDC is a 'digital dollar', making it safer for institutions to store money.
Historical warning: In 2021, ETH rose to $4,000 first, and BTC then surged from $50,000 to $64,000. Now ETH has broken through $3,600, and BTC is consolidating, potentially replicating the 'ETH sucks blood then BTC rises' script.
Conclusion: Which side are you on?
BTC is stuck at $122,000 today. Is this the 'regulatory good news realization' or a 'continuation of the uptrend'?
Bullish: The bill clarifies the rules, institutional funds are on the way, and $130,000 is just the starting point! Bearish: Technical pressure is significant; it's better to go to ETH for short-term gains!
Opportunities and risks coexist in the crypto space. Staying vigilant and seizing the right moment is key. I've also discovered a short-term project with huge potential for a price surge! Want to keep up? Follow me for free sharing!
