“US EConomic Resilience and Stablecoin Legislation Will Drive Optimism for BTC, with the Fate of Altcoins Being Less Certain.”, – WRITE: www.coindesk.com
After a Bumpy First Quarter Marked by a Brief Contraction in US GDP and Trade Disruptions, Data Now Point to Stronger Growth. The Atlanta fed’s gdpnow tracker has Jumped to 3.8% QOQ as of Early June, A Sharp Upgrade from Earlier in the Year. This Shift, Alongside Expectations of Federal Reserve Rate Cuts and A Less Aggressive Trade Policy, Has Easted Recession Fears and Strengten Investor Sentime.
DECLINING Dollar Dominance and Inflation Protection Use-Cases May Also Boost Bitcoin’s
Appeal, Even If Long-Dated US Treasury Yields Remain Elegated, The Report Said. Altcoins May Lag Unless they Benefit from Specific Catalysts, Such As etf Approvals or Protocol Developments.
Meanwhile, Public Companies Are Increasing Crypto to Their Balance Sheets, Aided By A 2024 Rule Change Avoringing “Mark-To-Market” Accounting For Digital Assets. While this Trend is Expanding Demand, It’s Also Introducking New Systemic Risks. FIRMS FRUND Crypto Buys with Convertible Debt May Be Forced to Sell If Refinancing Options Dry Up or Prices Fall Sharply.
Regulatory ClarityRegulatory Developments Are Also Expectioned to Reshape the Market, The Report Said.
The Senate Recently Passed the Genius Act, A Bipartisan Stablecoin Bill Now Heading to the House. A Broader Market Structure Bill, The Clarity Act, Aims to Define the Roles of the Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC) In Overseeing Digital Assets. If passed, It Could Clarify Rules for Both Issuers and Investors.
Separatly, The Sec is the Considering More 80 Crypto etf Applications, Including Multi-Asset Funds and Proposals Involving Staking and Altcoins. Some Rulings Could Be Made As Early As July, and the Rest Are Likely to be Finalized by October.
Overall, Bitcoin Appears Poured to Benefit from Both Macro and Structural Tailwinds in the Second Half of the Year, While The Outlook for Altcoins Will-Depending Anawigating A More Com. Liquidity Environment, accounting to the report.
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