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▲ Bitcoin (BTC)
As Bitcoin (BTC) rebounded 30% from its February low, the cryptocurrency market has entered a phase of preparing for potential price shocks from two US-originated policy variables.
According to economic media Forbes on May 7 (local time), Bitcoin's price has risen 30% since its February low. Forbes reported that with the recent rebound combined with US cryptocurrency policy movements, the market is closely watching two major price fluctuation factors.
The first variable is the US cryptocurrency market structure bill. White House crypto advisor Patrick Witt set July 4 as the target date for the bill's passage. The cryptocurrency industry has long demanded clarity on market structure and regulatory standards, and this bill has emerged as a policy event that could directly impact the prices of Bitcoin and major cryptocurrencies.
The second variable is the Strategic Bitcoin Reserve. Forbes pointed out that movements related to this reserve are adding new expectations to the Bitcoin market. Discussions about national-level Bitcoin holdings or reserves are being received by the market as a factor that could change the supply and demand structure.
Although Bitcoin's price recovered to $80,000, Forbes reported that the market is becoming more sensitive to the ripple effects of policy events than to a simple rebound. Investors are focusing on the speed of processing the US cryptocurrency market structure bill and whether discussions about a Strategic Bitcoin Reserve will lead to actual market demand.
Forbes assessed that Bitcoin and the cryptocurrency market are re-entering a period of high volatility. Bitcoin, which rebounded 30% from its February low and regained $80,000 on the back of policy tailwind expectations, is expected to be largely influenced by two pillars: the US regulatory bill and the Strategic Bitcoin Reserve.
*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*
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