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Crypto

Crypto exchange closures may signal market bottom, Tom Lee says

A series of cryptocurrency exchange shutdowns could be a sign the market is near a bottom, Fundstrat co-founder Tom Lee said. His comments followed BitMart’s decision to end its trading platform and BitMEX’s plan to halt operations this year. Lee maintained a long-term optimistic view on ethereum, comparing its evolution potential to growth inflection points seen at Amazon, Nvidia and JPMorgan, and reiterated a $250,000 long-term target.

Crypto

Bitcoin pauses as Middle East tensions lift oil; CLARITY bill, FOMC to set direction

Bitcoin rebounded to around $65,700 but struggled to extend gains as international oil prices and U.S. Treasury yields rose. Markets are watching next week’s U.S. congressional debate on the CLARITY bill and the Federal Open Market Committee meeting as key drivers of near-term direction. Expectations over the bill’s ethics provisions initially lifted prices, but momentum faded amid worsening U.S.-Iran tensions and profit-taking. The Fed’s signals on potential further rate hikes are also in focus.

Crypto

Will XRP enter the financial mainstream faster? Key lies in U.S. Clarity Act

A U.S. “Clarity” bill under discussion in Congress could be a key factor in expanding institutional adoption of XRP, an analysis said. Developer Vincent Van Code said XRP’s legal status is clearer after a 2023 court ruling in the SEC-Ripple case, but uncertainty remains because it is not federal law. He said many institutions want clear legal guidelines before committing capital. Senate talks are accelerating ahead of the August recess.