10x Research: BTC’s New Highs Are Not Driven by Market Hype, but by Deeper Macroeconomic Shifts

According to a report by Jinse Finance, the latest analysis from 10x Research indicates that Bitcoin’s recent all-time highs are not driven by market speculation, but rather by deeper macroeconomic shifts. The increase of the US debt ceiling by $5 trillion, massive deficit spending, and the upcoming crypto policy report from the Trump task force are collectively reshaping the macro landscape. The report suggests that Bitcoin has evolved into a macro asset used to hedge against unchecked fiscal spending, marking a fundamental shift in its narrative. The FOMC meetings on July 22 and 30 could serve as key catalysts for redefining Bitcoin’s role within the financial system. Data shows that seasonal factors in July, a surge in bullish options buying, and a wave of short liquidations have jointly fueled the current rally.