๐บ๐ธ Congress Is All-In On Crypto: Major Wins Incoming!
Stablecoin and Crypto legislation are getting close to becoming law, and Congress is fully on board.
Hey Thinkers ๐ก
Congress is Hosting Crypto Week! ๐บ๐ธ๐
The U.S. House Financial Services Committee has officially declared July 14โ18 as Crypto Week.
In a major announcement posted on X, House Financial Services Committee Chairman French Hill, House Agriculture Committee Chairman Glenn "GT" Thompson, and House Leadership stated that the week will be dedicated to advancing key crypto legislation:
CLARITY Act (Crypto Market Structure)
Anti-CBDC Surveillance State Act
GENIUS Act (Stablecoins)
This is a pivotal moment for the U.S. crypto industry. If all goes well, we could see:
โ
The GENIUS Act passed and sent to President Trump for signature
โ
The CLARITY Act approved by the House and headed to the Senate
If you recall, White House Crypto Czar David Sacks recently outlined the timeline for the CLARITY Act:
๐ Bill introduced before the August recess
๐ ๏ธ Mark-up during the first week of September
โ
Final vote by the end of September
This marks the final stretch of U.S. crypto legislation and could perfectly align with the final phase of the crypto bull marketโas macroeconomic, legislative, on-chain, and chart signals all converge.
๐ Major Headlines This Week
๐ฉ๐ช Deutsche Bank Enters Crypto Custody
Germanyโs largest bank, Deutsche Bank, is set to debut a crypto custody service in 2025. The bank is partnering with Bitpanda to bring this solution to lifeโa big step toward institutional adoption in Europe.
๐ฆ Robinhood Goes All-In on Crypto
Robinhood is making bold moves:
Launching its own Layer-2 blockchain using Arbitrum tech, focused on tokenized assets and 24/7 trading
Tokenized stock trading now live in Europe, offering access to 200+ U.S. stocks and ETFs
Perpetual futures coming to European users via its Bitstamp acquisition
Crypto staking now available in the U.S., starting with Ethereum and Solana
๐ When Will Bitcoin Move?
Crypto investors are watching Bitcoin closely, waiting for a breakout above $112,000 to enter price discovery mode and trigger the next leg of the bull run.
Analyst Rekt Capital noted:
โDespite Daily Closing beneath the black diagonal, Bitcoin never really turned it into resistanceโฆ Bitcoin is now once again positioned above the key trendline. Needs a Daily Close above $108,500 to solidify steps toward a reclaim.โ
Key technical and macro indicators show BTC still has room to run:
Global liquidity continues to rise (with a typical 2โ3 month lag in crypto performance)
Elliot Wave theory suggests weโre in the macro 5th wave for the total market cap. And the Fibonacci targets show weโre far from the key 4.236 extension level
Reminder: This phase is all about patience and volatility. As Bitcoin moves higher, capital will rotate into altcoins, potentially kicking off the true altseason that many have been anticipating.
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๐Crypto Market Metrics
Here are some key data points from Santiment
Top 10 Coins Trending via Social Media
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๐บ Recent Interviews
Matt Hougan, CIO at Bitwise Asset Management, joined me to discuss the latest with Crypto ETFs.
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-Tony
We need the SEC to drop that appeal!
https://substack.com/@cryptopolaris/note/p-167654770?r=mww66&utm_medium=ios&utm_source=notes-share-action