Harris’ Crypto Proposal Will Change Market Balance, According to Bitwise!
Harris emphasized in a speech on Monday that he would support a regulatory framework that would protect black men’s cryptocurrency investments and ownership.
The proposal coincided with the Bitcoin price rising 5% and $555.8 million flowing into Bitcoin exchange-traded funds (ETFs). This was the highest total since June 4.
Hougan wrote in his blog post:
This small bit of positive news was significant enough to send Bitcoin up 5%. It caused more than $500 million to flow into Bitcoin ETFs. It was enough for people to start thinking about whether the cryptocurrency could finally start reaching new all-time highs.
Beyond what Harris said, he noted that today’s price action shows that there is a lot of capital waiting to enter the market.
