Come senators, congressmen
Please heed the call
Don't stand in the doorway
Don't block up the hall
Bob Dylan - The Times They Are A-Changin'(1964)
Today, March 8th, the market froze. Negotiations on the crucial Clarity Act fell apart: the US banking lobby refused to support the Trump administration's compromise.
The crux of the conflict: Banks don't want to allow crypto platforms to accrue yield on stablecoins. This would be direct competition for deposits, and bankers have decided to sabotage the process.
What does this mean for the market right now?
Stablecoins are under pressure until this law is passed. $USDT and $USDC remain in a "gray zone." This is hindering the influx of institutional liquidity, which was waiting for clear rules of the game.
We are already seeing a slowdown in $BTC ETF inflow. Big capital doesn't like uncertainty in Washington. And against the backdrop of the escalation with Iran and rising oil prices, the Fear & Greed Index isn't rising above 18-20. The market is going into hold mode.
I don't think Trump is likely to back down unless it's more profitable for him. 🤷 His plan to create a Bitcoin reserve requires this law. If banks don't cave, we could see severe pressure from the administration, which will ultimately fuel a powerful pump.
What do you think, guys: will banks really be able to suppress the Clarity Act, or is this just a temporary setback before 🚀🚀🚀🌙? Share your thoughts in the comments! 👇
As allways: Holding y'all tightly lifting you lightly and kissing tenderly, yours eternally
老虎🐯🐾