Bitcoin's Real Bull Market Beginning? Signals from Bessent and Trump and September's Biggest Inflection Point | Seo Dong-ju, Kim Dong-hwan, Kim Min-seung, Korbit Research Center Head

Summary

Korbit Research Center Head Kim Min-seung reviews Bitcoin's recent 20% rally, attributing it to Treasury Secretary Bessent's buyback comments, the SEC's Regulation Crypto Asset release, CFTC signaling, and Trump's strategic Bitcoin reserve mention. He explains that the SEC rulemaking opens a legal path for token issuance and a potential new asset class, while warning that the Operation Twist-to-crypto narrative and Ripple partnership-to-XRP logic are not one-to-one. He flags the September 15 Senate cloture vote on the Clarity Act as the next major inflection point.

• Bitcoin jumped from the low $70,000s to around $81,000 after Bessent's buyback signal and short covering.
• SEC's Regulation Crypto Asset and CFTC's response improved crypto market sentiment.
• The SEC rule opens a conditional legal pathway for token issuance and ICO-like funding.
• Secondary trading for newly issued tokens remains unresolved and needs legislation.
• Kim sees the Operation Twist/stablecoin-to-crypto transmission as weaker due to ETF-driven market structure.
• He cautions that Ripple Labs partnerships do not logically justify XRP's price rally.
• September 15 Senate Clarity Act cloture vote is the next major inflection point.