The current cryptocurrency market is in a state of extreme schizophrenia. On one hand, BTC has fallen from a high of $126,000 to $75,000. Although it has stopped declining, it has not returned to $80,000, and market sentiment is unstable; on the other hand, institutions are accelerating their penetration into the infrastructure. Whether it's Cb's resolve or Tether's shell game for survival, essentially, they are betting on the same future: a compliant but castrated cryptocurrency market.
However, for investors in cryptocurrencies, the upcoming bear market must have a very clear logic. Don't expect the so-called 'regulatory dividends' to benefit retail investors. The regulatory logic in the beautiful country has evolved from 'regulation by enforcement' to 'regulation by strangulation.'
In the coming time, the negotiations between the White House, banks, and crypto giants over the CLARITY Act will determine whether DeFi becomes an engine of financial innovation in the United States or degenerates into a synonym for the underground black market.
If you don't want to become a casualty in the upcoming reshuffle, don't focus too much on the ups and downs in those candlestick charts; pay more attention to the so-called 'for your own good' legislative texts from Washington, where the real slaughterhouse for harvesting retail investors is.