Bitcoin (BTC) price prediction: Crypto Assets make their way to Capitol Hill, with BTC expected to yield a return of $110,000.

As the focus shifts from U.S. tariffs to digital assets, Bitcoin (BTC) has also risen. The House of Representatives will review three key cryptocurrency legislations: the CLARITY Act, the GENIUS Act, and the Anti-CBDC Surveillance State Act. Although lawmakers will vote on these bills during the week of July 14 (Crypto Assets Week), today’s Senate Banking Committee hearing is also significant.

Legislation through the House of Representatives may expedite the debate and voting on the Bitcoin Act, which Senator Cynthia Lummis reintroduced in 2025, proposing that the U.S. government acquire 1 million Bitcoins over five years and hold them for 20 years.

Legislation allowing the U.S. government to acquire Bitcoin as a strategic reserve could significantly alter the supply and demand balance of Bitcoin, favoring Bitcoin and potentially driving the token price to unprecedented highs.

"Despite the recent improvement in trade conditions, market sentiment towards Bitcoin has improved. Market intelligence platform Santiment commented, 'Bitcoin traders are bullish again, with Bitcoin's market cap slightly above $108,500. As FOMO sentiment floods in, it is crucial to remain cautious, as it often leads to short-term pullbacks.'"

US Bitcoin spot ETF market sees inflows for four consecutive days

The capital flow trends in the U.S. Bitcoin spot ETF market may influence broader market sentiment.

On Monday, despite Trump's tariff letter, Bitcoin spot ETF issuers reported a net inflow of 216.5 million dollars.

On Tuesday, the Bitcoin spot ETF market in the United States may continue the momentum of capital inflows for four consecutive trading days. According to Farside Investors, the main capital flows on July 8 trading day include:

· Fidelity Research Origin Bitcoin Fund (FBTC) net inflow of 4.8 million USD.

With the release of liquidity data for Grayscale Bitcoin Spot ETF (GBTC), Grayscale Bitcoin Mini Trust, and BlackRock iShares Bitcoin Spot ETF (IBIT), the total inflow for Bitcoin Spot ETF in the United States has reached 8.5 million USD.

Bitcoin Price Analysis

FXEmpire analyst Bob Mason stated that the recent price trend of Bitcoin depends on several key driving factors, including trade developments, legislative-related headlines, Federal Reserve comments, and spot ETF liquidity trends. Possible scenarios:

Bearish scenario: Escalating trade tensions, legislative hurdles, hawkish signals from the Federal Reserve, and outflows from ETFs. The combined effect of these factors could drive Bitcoin down towards the 50-day Exponential Moving Average (EMA) and potentially break through 100,000 USD.

Bullish scenario: Easing trade tensions, bipartisan support for cryptocurrency legislation, the Federal Reserve signaling dovishness, and ETF capital inflows. In these scenarios, Bitcoin may reach a historical high of $111,917.

(Source: FXEmpire)