10x Research: Bitcoin's new high is not driven by market speculation, but by deeper macroeconomic changes

Planet Daily News: 10x Research's latest report points out that Bitcoin's recent historical high is not driven by market hype, but stems from deeper macroeconomic changes. The increase of the US $5 trillion debt ceiling, massive deficit spending, and the upcoming crypto policy report by the Trump working group are collectively reshaping the macroeconomic landscape. The report believes that Bitcoin has transformed into a macro asset for hedging against unbridled fiscal spending, with its narrative logic fundamentally changing. The FOMC meetings on July 22nd and 30th may become key catalysts for redefining Bitcoin's role in the financial system. Data shows that seasonal factors in July, a surge in call option purchases, and a wave of short liquidations have collectively driven this round of price increases.