Crypto may have just hit inflection point, Clear Street says

Crypto industry may have just hit an inflection point after the recent bear market, according to Clear Street analyst Owen Lau

Lau says recent developments, including U.S. President Donald Trump's support of the Clarity Act bill, crypto exchange Kraken's access to Federal Reserve master account, and conflicts in the Middle East, have dramatically improved sentiment of crypto and also supported blockchain fundamentals long term

"This shift could essentially end the crypto bear market and trigger the beginning of a bull run. The industry may just hit an inflection point, and we believe this run has legs," Lau says

Crypto stocks and tokens jumped on Wednesday as the world's biggest cryptocurrency, bitcoin BTC=, climbed back above $70,000

Near-term catalysts include potentially faster passage of the Clarity Act, interest rate cut and further penetration of tokenization, according to Lau

BTC down 32% over the past 6 months