BIT Official: Fed hawk, weak bill, bitcoin or near end of cycle

On 31 July, BIT Official issued a weekly report that the encrypted currency market had fallen by 80 per cent at a higher point, about 60 per cent from its peak in the fourth quarter of 2025; the total market value had also fallen by 50 per cent. Without an effective recovery of the turnover, it will be difficult for the market to generate a sustained rebound. Despite the fact that two major concessions are still being digested, bitcoin is still in the range of $62,000 to $66,000, and we continue to expect that it will eventually make a breakthrough. Federal Reserve Chairman Kevin Walsh seems to be pursuing a “less to do” communication strategy, and the ambiguity itself is disturbing the market. For the past two decades, Walsh has been well known for his hawk stance; But when Trumpley introduced the Fed, the market had expected him to steer monetary policy towards a more dove-like path. If this turn to cash, it would be a good thing for bitcoin. The forecast market previously showed that the CLARITY Act was only 32 per cent likely to be signed into law by 2026. The majority leader of the Senate, John Tunn, has indicated that the Senate will give priority to other issues. As the August recess approached, the legislative window left for the bill was further narrowed。