Bitcoin's 23% rally signals start of new cycle
US debt policy revives crypto markets
1Historic week for Bitcoin
Bitcoin surged 23.5% this week to $77,559, marking its biggest weekly percentage gain since March 2023. It crossed above the 200-day moving average for the first time. Ethereum rose 31%, Solana 28%, and XRP soared 53%. Crypto ETFs attracted $2.61 billion in inflows over the past week.
2US debt crisis warning
Ray Dalio, founder of Bridgewater Associates, warned the US could face a debt crisis within three years. US debt surpassed $40 trillion with growing budget deficits. Dalio recommended allocating 15% of portfolios to gold and some Bitcoin. Debt interest payments now exceed Medicare costs.
3Crypto regulation moves
Discussions continue on the CLARITY Act in the US. The bill passed by the House faces a Senate vote on September 15. The SEC proposed new rules allowing crypto projects to issue up to $5 million in tokens over four years. CFTC Chair Michael Selig said alternative regulations are ready if the bill fails.
4Institutional investors return
Michael Saylor's Bitcoin investments crossed the breakeven point of $75,385. Stocks of crypto-related companies like Coinbase and Robinhood saw double-digit gains. Polymarket odds of Bitcoin reaching $90,000 before 2027 stand at 48%. Barchart data shows Bitcoin above its 200-day average.
5Political impacts
President Trump met with Coinbase CEO Brian Armstrong and the Winklevoss twins, urging passage of the CLARITY Act. Hyperliquid's price rose 20% after Trump's comments. Democratic senators said they wouldn't support the bill without ethics provisions.
6SEC's new rules
The SEC proposed new rules for crypto projects, starting a 60-day comment period. The rules allow $5 million in token issuance over four years and $75 million over 12 months. Commissioner Hester Peirce said the rules would bring clarity to the crypto space.
7Market dynamics
The Kobeissi Letter attributed crypto and precious metals gains to inflation, deficit spending, and Treasury policies. The Treasury Department announced it would double debt buybacks to $4 billion. These moves supported asset prices across both categories.
8Beginning of a new cycle?
Bitcoin's break above the 200-day average and increasing institutional investment are seen as signs of a new bull market. US debt concerns and regulatory developments are boosting interest in crypto assets. Total market capitalization reached $2.63 trillion.
Original article: Cointelegraph.com News — Bitcoin %23 yükselişle yeni bir döngü başlatıyor