...what you said above is consensus viewpoint, but a lot has changed since the move to stack Congress with pro-crypto candidates that won in Senate and House.
...this below from Marin Katusa.
Brace Yourself for the Crypto Super-MajorityAlready, the idea of a Crypto Congress has upended the sentiment surrounding Bitcoin. It has shot up more than 40% since Election Day, repeatedly breaking to new record highs and coming within spitting distance of the $100,000 mark.
It’s all based on a brand-new sentiment for Bitcoin—that regulators will no longer restrain its price.
Marc Andreessen, a major Fairshake benefactor, said the election outcome felt like “a boot off the throat” for cryptocurrency.
What kind of progress will the Crypto Congress make?
An early indicator came in July 2024.
U.S. Senator Cynthia Lummis, appearing on stage with Donald Trump, introduced the Bitcoin Act, which would create a strategic Bitcoin reserve—starting with the 213,000 Bitcoins the U.S. government already owns.
A few other ideas have been floated for legislation, including:- Rolling back regulations that are burdensome for crypto exchanges.
- Exempting capital gains taxes on U.S.-issued cryptocurrencies.
- Shifting federal crypto oversight from the SEC to the Commodities Futures Trading Commission.
If Bitcoin begins to be considered a commodity, it will completely change how investors approach it. The sentiment will switch from seeing it as a risk-based speculation to a value-based commodity, and the price is likely to reflect that.
Fairshake’s influence shows no signs of slowing down.With $78 million already raised for 2026, crypto PACs are poised to further solidify their grip on Congress.As pro-crypto sentiment grows, the industry’s ability to shape policy—and markets—is virtually unmatched.
* Trump 2.0 with its pro-crypto Congress - what will they do for BTC?
Northstar
@NorthstarCharts
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9h#Bitcoin - Critical resistance should be tested - Above that, rocketships await
https://x.com/NorthstarCharts/status/1862521584033866134
