Trump's press on policy combining with institutional adoption for new crypto bull market: Clear Street
Summary
Analyst Owen Lau expresses confidence in Bitcoin's potential, noting a significant 8% rise in the cryptocurrency's value, pushing it above $73,000. This surge highlights the growing optimism surrounding Bitcoin's market trajectory.
Key Insights
What is SAB 121 and how did Trump's policy change it?
SAB 121 was a Staff Accounting Bulletin that required banks to hold customer crypto assets on their balance sheets, deterring participation in crypto. President Trump’s January 23, 2025, executive order rescinded SAB 121, enabling banks to offer crypto custody services without this liability.
Sources:
[1]
What is a crypto bull market?
A crypto bull market is a sustained period of rising cryptocurrency prices, driven by optimism, increased adoption, and positive developments like regulatory clarity and institutional investment, as seen with Bitcoin surpassing $73,000 amid policy shifts and institutional inflows.