Bitcoin is gaining speed again. BTC crossed $66,500 before continuing its rise towards $69,000. Bitwise Chief Investment Officer Matt Hougan sees three reasons behind the move. They all come from the United States: the SEC, the Treasury and the new political discussions around crypto.
In brief
- Bitcoin is rising towards $69,000 after several difficult weeks.
- Matt Hougan cites three recent events in the United States.
- The SEC, Treasury and Washington are all sending more favorable signals to the market.
Bitcoin gets a boost from the SEC
Matt Hougan starts with the SEC. The American regulator is working on a new framework called “Regulation Crypto Assets”. It must in particular facilitate certain capital raisings and specify in which cases a digital asset can escape classification as a financial security.
The SEC had already made crypto regulation one of its priorities for 2026. The change is notable. For several years, many American projects launched their tokens without really knowing how the SEC would view them a few months later. Several cases ended up in court.
Bitcoin has less of this problem. Its regulatory status is much less debated in the United States. BTC still benefits from the general atmosphere. A crypto industry that gets clearer rules attracts capital, businesses and financial institutions more easily. Hougan sees this as his first catalyst.
The Treasury puts money back into the circuit
The second comes from the US Treasury. Washington plans to double its buyouts long-term bonds. The operation concerns securities already present on the market and must in particular improve their liquidity.
Subject quite distant from Bitcoin at first glance. Not so much. Risky assets react strongly to US financial conditions. When rates rise and liquidity disappears, Bitcoin usually suffers along with stocks.
When the money comes back, the movement can go in the other direction. The market also has an additional tool since 2024: spot Bitcoin ETFs. These funds can absorb several hundred million dollars in a single session. They have already played an important role in several BTC recoveries.
There were recent reports of a new round of inflows into US Bitcoin ETFs. Matt Hougan follows these feeds closely. He had already attributed part of the previous rebound to Strategy’s large purchases. This time, the Treasury completes the picture.
Washington is seriously talking about crypto again
Third element: politics. The White House must bring together several representatives of the crypto sector. Coinbase and Ripple are among the expected companies. Tokenization will be discussed. The Clarity Act too. The text should more clearly define the powers of the SEC and CFTC over digital assets. His journey to the Senate has dragged on for several months.
He will return in September. A few days earlier, Bitcoin was still stagnating around $64,000 while the Clarity Act lagged. BTC has since recovered several thousand dollars. Matt Hougan therefore brings together three pieces of news in the same week: a more open SEC, more liquidity on the Treasury side and a White House that brings large crypto companies back to the table. The market appreciates. Bitcoin is regaining the levels it lost during the summer. $69,000 now remains just ahead.
Maximize your Tremplin.io experience with our ‘Read to Earn’ program! For every article you read, earn points and access exclusive rewards. Sign up now and start earning benefits.
