Key audience for the "Clarity Act" law: Today, July 17, the U.S. House of Representatives holds a crucial hearing to determine whether Bitcoin and Ethereum are "commodities" (regulated by the CFTC) or "securities" (regulated by the SEC). This bill, which aims to end regulatory uncertainty, is seen as a possible catalyst for institutional investment and is expected to cause volatility.
· New client "DOG Mode" to evade rules: Runestone’s cofounder launched "DOG Mode," an open-source Bitcoin client that does not require network consensus. Its goal is to bypass restrictions (BIP 110) to increase transaction size and reduce the "dust" limit to 1 satoshi, which could free up dormant funds.
· Price under pressure and mixed outlook: Bitcoin trades around $62,800–$63,000, affected by the decline in tech stocks. While Fidelity suggests we may be near the "cycle bottom" (with 40% of the long-term supply in losses), other analysts warn of a possible pullback to $58,500 due to oversupply and macroeconomic pressure.
In short, attention is split between politics (the Clarity Act hearing), innovation (the DOG Mode client), and market uncertainty (with mixed signals in the price).#BTC☀️
· New client "DOG Mode" to evade rules: Runestone’s cofounder launched "DOG Mode," an open-source Bitcoin client that does not require network consensus. Its goal is to bypass restrictions (BIP 110) to increase transaction size and reduce the "dust" limit to 1 satoshi, which could free up dormant funds.
· Price under pressure and mixed outlook: Bitcoin trades around $62,800–$63,000, affected by the decline in tech stocks. While Fidelity suggests we may be near the "cycle bottom" (with 40% of the long-term supply in losses), other analysts warn of a possible pullback to $58,500 due to oversupply and macroeconomic pressure.
In short, attention is split between politics (the Clarity Act hearing), innovation (the DOG Mode client), and market uncertainty (with mixed signals in the price).#BTC☀️