7.22 evening outlook

The White House and Senate Republican Party have thoroughly resolved the biggest point of disagreement on the bill—an ethical restriction clause on conflicts of interest involving encrypted assets held by public officials. The new full bill text is about to be released to the public. The House of Representatives has already passed it with a large majority. At this stage, the only remaining step is to win over 7 Democratic senators to reach the Senate’s 60-vote threshold. Before the Senate recess on August 7, this is the sole legislative window.
Once the bill takes effect, it will permanently define BTC and BNB as digital commodity classifications in law, entrusting exclusive oversight to the CFTC. It will put an end to the SEC’s years-long regulatory tug-of-war chaos. Compliance institutions with over one hundred billion in compliant capital will obtain a legal entry pass—this is a major long-term, historic positive. However, in the short term, the market narrative has already priced in and exhausted the upside potential in the price surface. Funds will realize gains and exit first. The positive impact is only valuable for short-term speculative trading and cannot directly kick off a one-way sustained bull run.

BTC rebound around 66,600-67,100, looking toward 65,200-64,700
BNB rebound around 1,950-1,990, looking toward 1,890-1,850

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