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The infrastructure bill intends to treat the crypto community’s software developers, transaction validators and node operators as the brokers of the traditional institutions.
Bitcoin has been moving sideways as the rest of the crypto market, especially Ethereum and the DeFi sector, show strength. The first cryptocurrency by market cap needs to make a decisive move to break out of its current range but could face downside in the short term, some recent reports claim.
BTC moving sideways in the daily chart. Source: BTCUSD Tradingview
Banking giant JP Morgan released a report written by its strategists Nikolaos Panigirtzoglou on the alleged bearish signals caused by the coming Grayscale Bitcoin Trust (GBTC) shares unlocking. The analyst expects this event to be a headwind for Bitcoin during July.