The cryptocurrency market remains range-bound, with Bitcoin trading around $65,000 and Ethereum close to $2,000. Traders are waiting for a catalyst. JPMorgan analysts (led by Nikolaos Panigirtzoglou) believe that U.S. market structure legislation, such as the “Clear Act,” is expected to be approved before mid-year, which could serve as a positive catalyst. The bill aims to clarify regulatory responsibilities between the Commodity Futures Trading Commission (CFTC) and the Securities and Exchange Commission (SEC), classify tokens, and reduce compliance burdens. However, the bill is currently stalled in the Senate, and Coinbase has withdrawn support due to concerns over innovation and competition issues. Clearer rules are expected to attract institutional capital from asset management firms and pension funds, thereby increasing liquidity and reducing volatility.
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Bitcoin is currently stagnating, but JPMorgan says that new legislation could be the final opportunity for its recovery.
The cryptocurrency market remains range-bound, with Bitcoin trading around $65,000 and Ethereum close to $2,000. Traders are waiting for a catalyst. JPMorgan analysts (led by Nikolaos Panigirtzoglou) believe that U.S. market structure legislation, such as the “Clear Act,” is expected to be approved before mid-year, which could serve as a positive catalyst. The bill aims to clarify regulatory responsibilities between the Commodity Futures Trading Commission (CFTC) and the Securities and Exchange Commission (SEC), classify tokens, and reduce compliance burdens. However, the bill is currently stalled in the Senate, and Coinbase has withdrawn support due to concerns over innovation and competition issues. Clearer rules are expected to attract institutional capital from asset management firms and pension funds, thereby increasing liquidity and reducing volatility.