BITOfficial: The Federal Reserve is hawking, the bill's outlook weakens Bitcoin may be approaching the bottom of the cycle

On July 31, BITOfficial released a weekly report stating that the trading volume in the cryptocurrency market has dropped by 80% from its high point, shrinking by about 60% from the peak in the fourth quarter of 2025; the total market value has also fallen by 50%. If trading volume cannot effectively recover, it will be difficult for the market to form a sustained rebound. Although it is still digesting two major negative spots, Bitcoin remains in the US$62,000 to US$66,000 range, and we continue to expect it to eventually break through upwards. Federal Reserve Chairman Kevin Walsh seems to pursue a communication strategy of "talk less and do less", and this ambiguity itself is disturbing markets. Over the past two decades, Washi has been known for his distinctly hawkish stance; but when Trump pushed for the chairmanship of the Federal Reserve, markets had expected him to steer monetary policy towards a more dovish path. If this shift is cashed, it will be a significant benefit for Bitcoin. The forecast market has previously shown that the probability of the CLARITY Act being signed into law before the end of 2026 is only 32%. Senate Majority Leader John Thun has said the Senate will prioritize other issues. As the August recess approaches, the legislative window for the bill narrows further.