‘Unleash The Next Wave’—$4 Trillion Crypto Braces For ‘Big’ Price Catalyst As Bitcoin, Ethereum And XRP Soar
Bitcoin, fresh from hitting an all-time price of $123,000 per bitcoin at the beginning of the week, could be about to make another major move.
The bitcoin price, up around 60% from its April lows, has powered a huge ethereum and XRP rally that’s pushed the combined crypto market to just under $4 trillion (with a Congress game-changer predicted to unleash trillions more).
Now, as Tesla billionaire Elon Musk confirms wild bitcoin rumors, traders are turning toward next week as the “next big catalyst” for the bitcoin price, ethereum, XRP and crypto market looms.
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U.S. president Donald Trump's bitcoin and crypto task force is due to release their report next ... More week, with the bitcoin price at all-time highs, lifting ethereum, XRP and other major crytocurrencies.
“U.S. policy is the next big catalyst," Javier Rodriguez-Alarcon, chief investment officer with XBTO, said in emailed comments, pointing to U.S. president Donald Trump’s digital asset task force’s report that’s due July 22 and “could introduce sweeping policy changes, with speculation around a potential bitcoin reserve strategy.”
Trump’s Working Group on Digital Asset Markets has until July 22—180 days after Trump’s January 23 executive order establishing the group—to submit its final report on a proposed federal framework for the regulation of crypto, including stablecoins, market oversight, and consumer protection.
This week, Republican-controlled U.S. House of Representatives has cleared a final procedural hurdle after a record near-10 hours of talks that sets up a final vote on closely-watched stablecoin legislation.
If the stablecoin Genius Act is passed, it will go to U.S. president Donald Trump’s desk for his signature, while the crypto market structure Clarity Act may receive a vote next week, Punchbowl News reported.
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ForbesWild New Satoshi Nakamoto Theory Emerges From Massive $8 Billion Bitcoin Transfer MysteryBy Billy BambroughThe bitcoin price has surged to a record high of $123,000 per bitcoin this week, pushing up the ... More wider crypto market as ethereum, XRP and others follow it higher.
Meanwhile, the Trump’s digital asset task force’s report could reveal plans for the U.S. bitcoin strategic reserve that Trump ordered in March, mandating federal agencies transfer their holdings to the Treasury Department, which would oversee the reserve, as well as a crypto stockpile that’s had ethereum, XRP, solana and cardano named to it.
David Sacks, Trump’s artificial intelligence and crypto czar, has been working on “budget-neutral” strategies for acquiring bitcoin while bitcoin and crypto-backing senator Cynthia Lummis, a champion of the bitcoin reserve who has introduced bitcoin acquistion bills to Congress, has said that following the passage of the stablecoin and market structure bills, the Trump administration will then turn to the bitcoin reserve.
“Investors are watching closely for signs of a policy shift that could unleash the next wave of inflows,” Rodriguez-Alarcon added.
“Crypto Week is a historic moment for both Bitcoin and crypto as a whole,” Dom Harz, cofounder of bitcoin layer two network BOB, said in emailed comments.
“With bitcoin breaking past $122,000 over the weekend, a new all-time high, the price is reflecting the convergence of increased institutional inflows, growing confidence in digital assets as foundational infrastructure, and importantly, a call for regulatory clarity.”
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