16 Jul, 2025

Trump Urges GOP Support for Stablecoin, Crypto Clarity Bills During Crypto Week

It's been billed as "Crypto Week" in Washington, D.C., and President Trump has chimed in."The House will soon VOTE on a tremendous Bill to Make America the UNDISPUTED, NUMBER ONE LEADER in Digital Assets - Nobody does it better!" Trump wrote Tuesday in a post on Truth Social. "The GENIUS Act is going to put our Great Nation lightyears ahead of China, Europe, and all others, who are trying endlessly to catch up, but they just can’t do it. Digital Assets are the FUTURE, and we are leading by a lot!"The U.S. House of Representatives will consider two different initiatives this week: the stablecoin GENIUS bill and the Digital Asset Market Clarity Act. The House will also be considering a bill that would block the Federal Reserve from issuing a central bank digital currency directly to individuals.GENIUS would require stablecoins to be fully backed by U.S. dollars or similarly liquid assets, mandate annual audits for issuers with a market cap of more than $50 billion, and establish guidelines for foreign issuance.Meanwhile, the Clarity Act establishes a clear crypto regulatory framework by defining the roles of the SEC and CFTC, while also mandating retail disclosures and the separation of customer and corporate funds."If these bills pass through Congress during Crypto Week and eventually get signed into law, we've entered a new era," Bitwise CIO Matt Hougan said Tuesday. "Crypto is going mainstream, risk is being reduced, and Wall Street is moving into the space in a big way. No wonder we’re at all-time highs."The price of bitcoin hit an all-time high on Monday and currently trades around $116,800. The GMCI 30, which represents a selection of the top 30 cryptocurrencies, is up more than 15% over the past."Get the first Vote done this afternoon (ALL REPUBLICANS SHOULD VOTE YES!)," Trump said in his post. "This is our moment - Digital Assets, GENIUS, Clarity! It is all part of Making America Great Again, BIGGER AND BETTER THAN EVER BEFORE."Rep. Maxine Waters, D-Calif., the top Democrat on the House Financial Services Committee, once again slammed President Trump's crypto connections on Monday."[Both bills] would legitimize and legalize the unprecedented crypto corruption by the president of the United States," Waters wrote in an op-ed. On Friday, she said, "these bills would make Congress complicit in Trump’s unprecedented crypto scam – one that has personally enriched himself, his entire family, and the billionaire insiders in his cabinet, all while defrauding investors."Bloomberg recently estimated that President Trump has profited $620 million from his family's crypto ventures, which include World Liberty Financial and the TRUMP and MELANIA memecoins. The Trump family also has a 20% stake in the mining firm American Bitcoin, which is expected to go public."We are leading the World," Trump's post concluded, "and will work hard with the Senate and the House to get even more Legislation on this passed!"

11 Jul, 2025

Bitcoin Rallies 142% as Stablecoin Reserves Hit New Lows

Bitcoin’s recent rally has been significantly fueled by stablecoins, with reserves on exchanges hitting new lows. This trend indicates strong market conviction and spot-driven buying momentum. At the time of reporting, Bitcoin was priced at $117,913, with support trailing near $111,591 based on Parabolic SAR. The Exchange Stablecoins Ratio fell to its lowest level in months, signaling that available stablecoin liquidity is being deployed to acquire Bitcoin, suggesting strong investor demand. However, this depletion also indicates reduced buying power on exchanges, which could limit further upside if new capital fails to enter the market.Despite the ongoing rally, the Spot Volume Bubble Map reflected a cooling trend, revealing weakening trading activity beneath the surface. The diminishing bubble size and subdued activity suggested that momentum may be fading even as prices continued climbing. This divergence raises concerns that fewer market participants are actively engaging in the rally, increasing the risk of exhaustion. Unless volume recovers in the short term, Bitcoin’s bullish momentum could begin to lose traction, opening the door for sideways movement or minor pullbacks.Both the NVT and NVM ratios have spiked significantly, signaling a sharp divergence between market cap and transaction volume. These metrics often indicate overvaluation when rising rapidly, as they show that price is outpacing network usage. Historically, such imbalances have preceded short-term corrections or consolidation phases. Thus, while sentiment remains bullish, these valuation indicators suggest that Bitcoin could be entering overheated territory, and traders should prepare for a potential rebalancing of price and utility metrics.The Miner Position Index (MPI) has plunged by over 142%, reaching -0.70, indicating that miners were reducing their outflows drastically. Thus, miners were likely expecting prices to continue rising. Typically, miner selling increases during rallies; however, the current trend points toward long-term conviction. This retreat from selling supports the bullish narrative, although it also adds pressure on late buyers if the market suddenly reverses and miners begin offloading again.Directional indicators reflected clear buyer dominance, with +DI at 33.12 and -DI lagging at 11.73 at press time. However, the ADX was at just 19.70, signaling weak trend strength overall. While bulls clearly control the market, the lack of strong directional force suggests that the rally still lacks full conviction. In addition, Parabolic SAR support at $111.6K provides a cushion, but unless ADX begins to rise, the uptrend could stall. Therefore, traders should remain cautious as trend strength has yet to catch up with price momentum.Bitcoin’s rally was supported by strong investor demand, reduced miner selling, and bullish spot flows. However, overvaluation signs from NVT/NVM ratios, cooling volume, and weak trend strength hint at growing risk. Unless market participation and trend momentum improve soon, Bitcoin could face consolidation. While short-term conditions still favor buyers, the sustainability of this run depends on renewed inflows and broader confirmation from technicals. The next few days will be crucial in determining whether Bitcoin can extend its breakout or pause for a breather.