- The historic supply shock that hit the Bitcoin market signaled the ultimate parabolic rally in the near future.
- The Bitcoin market is expected to benefit greatly from improved negotiations for the trade war.
Bitcoin (BTC) prices have experienced significant volatility over the past two days after breaking out of the symmetrical triangle pattern on Sunday. Flagship Coin established a support level of around $102,229 on Monday, and rebounded more than 3% of transactions over $105,370 during the North American late trading session on Monday, May 19th.
The broader Altcoin market led by Ethereum (ETH) has been rallying in tandem, resulting in nearly $600 million encrypted liquidation over the past 24 hours.
The main force behind Bitcoin rebound today
jpmorgan’s bitcoin entry
JPMorgan CEO Jamie Dimon said Monday that the bank will allow clients to purchase Bitcoin, but will not participate in the custody service. In particular, JPMorgam manages over $4 trillion in managed assets (AUM).
JPMorgan’s client’s entry into the Bitcoin market is a major milestone in the mainstream adoption of BTC by institutional investors. Furthermore, Dimon was a huge skeptic of Bitcoin as digital gold in the past, but due to pressure from investors, the banks succumbed to Bitcoin.
The imminent ripple effect of the Stablecoins Genius Act
US lawmakers are pushing for a bipartisan, ridiculous bill called the Genius Act. The law, which is likely to be passed by both the home and President Donald Trump, provides for the US’s clear intentions.
As Chairman @senatortimscott said, genius acts are a bipartisan leap to protect our national security.
Read on how the bill will strengthen US national security by regulating and registering Stablecoin publishers: https://t.co/e9gxg2cxzv
– US Senate Banking Committee GOP (@bankinggop) May 19, 2025
In the top list of the Genius Act, Stablecoin publishers, including foreign publishers, are expected to implement technical capabilities to freeze and seize stablecoins. This Clouse helps the US continue to use the dollar as a political tool through sanctions.
As a result, trust in Bitcoin as a tool for global freedom is evident among institutional and retail investors.
