Analyst says BTC topping $73K could signal end of downturn

With Bitcoin surpassing $73,000, the market downturn may be coming to an end, according to Owen Lau, an analyst at New York brokerage Clear Street. Speaking to CoinDesk, Lau cited several positive developments. He noted that U.S. President Donald Trump's recent call to pass the CLARITY Act has increased its chances of becoming law before the end of summer. On the infrastructure front, Lau pointed to Kraken's approval for a Fed Master Account, which grants access to core payment systems, as a sign of progress. Institutional participation is also expanding, he added, highlighting Morgan Stanley's selection of BNY Mellon and Coinbase Custody Trust Company as custodians for its upcoming Morgan Stanley Bitcoin Trust. Lau described this as a move that reinforces Coinbase's role within the institutional crypto ecosystem. He also suggested that heightened geopolitical tensions in the Middle East are showcasing the utility of blockchain networks as an alternative payment solution amid financial market disruption. These combined developments, Lau explained, foreshadow a larger shift across the industry.