10x Research: Bitcoin narrative has completely transformed and is becoming a macro hedge asset against deficit spending

According to BlockBeats, on July 14th, 10x Research released a report stating that the three major events of the United States adding a $5 trillion debt ceiling, a surge in deficit spending, and the upcoming cryptocurrency policy by the Trump team are rapidly converging. The two major catalysts for the FOMC meetings on July 22 and July 30 may redefine the role of Bitcoin in the financial system. Bitcoin has broken through a new high, and the typical upward trend is driven by seasonal factors in July. In addition, the market has rapidly shifted from selling call options to actively buying call options, coupled with a wave of short positions closing, jointly boosting the market. On the surface, there are many reasons for the rise of Bitcoin - but the real key is only one. The narrative has completely changed: nowadays, no one talks about the application scenarios of blockchain or the technological prospects of Bitcoin anymore. Bitcoin is now seen as a macro asset and a hedging tool against unlimited deficit spending.