Editor’s comment: Add Arthur to a growing list of market veterans that make no mention of the 4-year cycle, instead putting their eyes on macro factors like the Fed balance sheet, yen strength, and the state of bond markets.
Coinbase Spotlights Davos Momentum Toward Tokenization and CLARITY Act
FAQ What is driving bitcoin’s weakness this week in the United States?Bitcoin is under pressure as U.S.-listed ETF outflows persist, institutional demand cools, and macro liquidity expectations tied to the Federal Reserve remain uncertain. Why do lawmakers say crypto market-structure rules are close? U.S. policymakers are advancing frameworks such as the CLARITY Act to define exchange oversight, custody, and token classification, though industry and political resistance remains. Why are gold and silver moving before crypto, according to Tom Lee? Tom Lee says capital often parks in metals first as leverage builds, setting up a later rotation into bitcoin and other digital assets once risk appetite returns. How could stablecoins trigger a $500 billion U.S. bank run risk? Analysts warn that faster adoption of dollar-backed stablecoins could pull deposits from traditional banks, shifting liquidity away from the legacy system and toward onchain rails.
