Odaily Planet Daily News 10x Research's latest report pointed out that Bitcoin's recent record highs were not driven by market speculation, but by deeper macroeconomic changes. The increase in the US debt ceiling of $5 trillion, huge deficit spending, and the upcoming crypto policy report by the Trump Working Group are jointly reshaping the macro landscape.
The report believes that Bitcoin has transformed into a macro asset to hedge against unrestrained fiscal spending, and its narrative logic has undergone a fundamental change. The FOMC meetings on July 22 and 30 may become a key catalyst for redefining Bitcoin's role in the financial system. Data shows that seasonal factors, a surge in call option buying, and a wave of short liquidations in July jointly drove this round of increases.