2023-3-16 11:17 |
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Bitcoin’s price action continues to drift into the Federal Reserve’s final policy decision of the year with little outward volatility, yet the underlying market structure reflects a very different reality.
Stablecoins were once a minor appendage of crypto markets, a functional parking spot for traders cycling between Bitcoin and Ethereum. However, framing no longer fits. With a circulating supply above $300 billion and annual trading volumes exceeding $23 trillion in 2024, stablecoins have matured into a parallel dollar infrastructure.
When Donald Trump entered the White House in January, crypto markets expected alignment between policy and price. The new administration delivered on some of its promises by providing regulatory clarity, friendlier oversight, and the strongest institutional welcome Bitcoin had ever received.
The US has never owed more money that it does today, and some believe the solution isn’t political reform or higher taxes but Bitcoin itself. America’s national debt has crossed $38 trillion, surpassing the country’s annual GDP by nearly 31%.
The 12 spot Bitcoin exchange-traded products (ETFs) in the United States reversed sharply last week, recording $1. 2 billion in net outflows. According to SoSoValue data, this was their second-largest weekly setback since launching in January 2024.
Arkham Intelligence flagged a transfer of 667.624 BTC from a U.S. government address to a new wallet; the coins remain unmoved as markets watch closely.
US Treasury waives 15% corporate minimum tax on Bitcoin, that saves companies billions. Strategy surges because unrealized gains will not be taxed anymore.