Bitcoin has been positioned as a major defense against an emerging US finance crisis, next to gold, and is likely one of the major drivers who walk at the current rally, according to an analyst.
Bitcoin (Btc) Just leading $ 121,000 to a new record high on Monday, “but this rally is not driven by hype – that it -fueled something deeper,” 10x research headed Markus Thielen in a note shared with the cointelegraph.
Thielen said Bitcoin has changed from a tech story in a MacRO owner, specifically a fence against US financial responsibility.
“The narrative has completely moved: nothing talks about cases of blockchain use or technological commitment to Bitcoin technological,” said Thielen, adding “Bitcoin has become a Macro’s owner, a fence against unnoticed spending shortage.”
The $ 7 trillion deficiency of US
US president Donald Trump is “a Big Beautiful Bill Act” (Ibba) was passed in July, raised the Ceiling on debt By $ 5 trillion, the largest single increase in US history.
Instead of the promised reduction of a lack of $ 2 trillion, the bill could add $ 2.3 trillion and $ 5 trillion to federal deficiencies in the next decade. It creates a potential $ 7 trillion swing from initial expectations, says Thielen.
Related: Bitcoin to benefit from ‘Trump’s Big Beautiful Bill,’ guess by analysts
In spending a shortage showing that there are no signs of slowing down and financial policy that becomes more accommodated by the expected rate of reduction, Bitcoin is positioned as the “ultimate beneficiary” of this macro environment, he said.
This is not just another crypto rally, “this is a direct response to a fiscal landscape that is not faster than expected,” he said.
“Next to gold, Bitcoin is now positioned as a major defense against an emerging prosecutor crisis – and that crisis has rapidly intensified.”
Bitcoin price catalysts
The analyst recognized other market catalysts with a number of upcoming events.
Will review the basic law on what is called “Crypto week“In Washington DC
Lawmakers are expected to debate and potentially vote on three high -profile measures: the Clarity Act, for the administration of regulation of crypto markets; The Genius Act, which creates a stablecoin framework; and the Anti-CBDC Surveillance State Act.
Trump’s Digital Asset Task Force will also issue a Crypto policy report, which potentially includes a strategic Bitcoin Reserve proposal on July 22.
There is also a Federal Reserve meeting on July 30 where rates are expected. However, CME futures markets Guess A 93% probability that rates remain unchanged.
Analysts reacted to the new full time of Bitcoin
“While the US is preparing for the crypto week to discuss the basic laws, the crypto remains elastic despite the volatility of the stock market from geopolitical tensions and tariff concerns,” Eugene Cheung, chief commercial OSL Crypto Platform official, told CointeleGraph.
He predicts that the property has a potential of $ 130,000 to $ 150,000 by the end of the year.
“Bitcoin’s violation of $ 120,000 is more than one milestone, it is a marker how deeply dedicated digital assets have become in institutional portfolios,” added Rachael Lucas, an analyst in the Australian Crypto exchange BTC markets.
Meanwhile, LVRG research director Nick Ruck told Cointelegraph that “We hope the Altcoins will continue to follow the Bitcoin trend as entrepreneurs change their portfolios and more risks.”
Magazine: Bitcoin vs Stablecoins Showdown approaches as the Genius Act approaches
