Regulatory Clarity for US Banks and Bitcoin's Market Rebound
Regulatory Clarity for US Banks and Bitcoin's Market Rebound
Recent news provides more regulatory clarity from the OCC, indicating that authorized national banks can now handle gas fees using crypto holdings under specified conditions, referencing the GENIUS act. Simultaneously, Bitcoin has demonstrated a notable 4% jump, outperforming traditional US equities ahead of Nvidia’s earnings report. However, this rebound is accompanied by observations of weak institutional demand from on-chain data, leading to questions about the rally's sustainability.
US Banks Gain Clarity on Crypto Holdings
The OCC has clarified that authorized national banks are permitted to hold crypto under specific circumstances, referencing examples within the recently passed GENIUS act. This offers banks more guidance on managing digital assets, particularly for handling transactional fees.
Bitcoin's Rebound Amid Market Scrutiny
Bitcoin experienced a significant 4% jump, outperforming US equities in anticipation of Nvidia’s earnings report. Despite this positive price action, on-chain data indicates a continued lack of strong institutional demand, raising questions about the sustainability of BTC's current rebound and whether it signals genuine spot buying interest.