Galaxy CEO: Crypto Market Structure Bill May Fail; BTC Needs to Break $100,000-$103,000 to Reconfirm Uptrend

Galaxy CEO Mike Novogratz posted on the X platform that the Crypto Market Structure Act may fail due to the lack of agreement on stablecoin yields, a manifestation of American politics overriding sound policy. Banks do not want crypto platforms to offer rewards to users. If the bill is rejected, the current situation seems to be what banks fear. If this interferes with the market structure act, the blame will fall on the banks and the Republican and Democratic senators who support them, with American consumers being the biggest losers. Hopefully, calm thinking will prevail. Mike Novogratz added that gold prices indicate the dollar is rapidly losing its reserve currency status, the sell-off in long-term bonds is not a good sign, and Bitcoin's disappointing performance due to continued selling pressure requires a break above $100,000 to $103,000 to reconfirm a return to an upward trend.