Is the U.S. set to become crypto capital? If so, Bitcoin prices will…

Key Takeaways

Bitcoin has rallied almost 18% since breaking $100K, flipping the milestone into structural assist. If the July 30 U.S. crypto report delivers, it might be the breakout set off that positions the U.S. as the worldwide crypto capital.

With lower than 120 days to go, Bitcoin [BTC] is on monitor to shut out a full 12 months buying and selling above its $100k milestone. 

In truth, since crossing that mark, BTC has rallied almost 18%, reinforcing $100k as a key structural assist within the present cycle. 

And all of this has performed out regardless of macro circumstances leaning risk-off post-election. That divergence is difficult to disregard, and with a key catalyst lining up this week, it may not keep underneath the radar for much longer.

Macro flipped the script on expectations

Publish-election hype pushed BTC to $109,312, proper as Trump stepped again into the White Home. However the momentum didn’t stick. As a substitute of follow-through, the market pulled again arduous. 

By the tip of Q1, Bitcoin was down 11.82%, operating counter to the pro-crypto coverage narrative that had front-run the transfer.

In Q2, although, bulls regained management.

BTC rallied 29.74%, locking in its strongest quarterly shut in 5 years. Why does that matter? As a result of what appeared like a “hype-driven” post-election spike now seems extra like actual conviction constructing round Bitcoin.

Supply: CoinGlass

And that shift confirmed up past value motion. 

Mid-July’s “Crypto Week” noticed the Home push by means of three main crypto payments back-to-back, highlighted by the GENIUS Act, which cleared each chambers and is now en path to the White Home.

In that context, is the U.S. quietly stepping up because the world’s first true crypto capital, delivering on the pro-crypto guarantees that front-ran the election cycle?

Is Bitcoin about to tear on the again of a U.S. crypto report?

Bitcoin’s Q2 efficiency clearly locked in its position as digital arduous cash. Contemporary company treasuries rotated in, and Trump’s Media & Know-how Group (DJT) introduced a $2 billion BTC allocation.

Now, coverage is beginning to comply with capital. A 180-day federal report lands on the thirtieth of July. It’s anticipated to stipulate the U.S. roadmap for positioning itself as the worldwide crypto hub.

And the timing couldn’t be extra aligned. Bitcoin has been consolidating simply 4% off its $123k all-time excessive, coiling beneath resistance with the market ready for a transparent catalyst.

Supply: TradingView (BTC/USDT)

If the report indicators actual coverage follow-through on pre-election guarantees, it might act because the catalyst Bitcoin bulls have been ready for, marking the U.S.’s first actual step towards claiming the crypto capital title.