The US Crypto Bill has been a key variable shaping the outlook for digital assets in the second half of the year. According to JPMorgan analysts, regulatory clarity will determine whether institutional investors step in, not price momentum.
Bitcoin recently traded below $70,000 after peaking near $126,000 in October 2024. The rally faded as speculative flows cooled. If passed by midyear, the US Crypto Bill could replace years of enforcement-driven oversight with defined rules.
The Senate gridlock slows down the bill's progress due to disagreements over stablecoin reward mechanisms. Lawmakers disagree on whether trading platforms can offer incentives to hold stablecoins. The debate centers on whether this kind of incentive might increase the outflow of deposits or favor incumbency to the detriment of companies.