Goldman Sachs analysts say the "Crypto Market Structure Bill" could become a key catalyst

On January 10, a team led by Goldman Sachs analyst James Yaro pointed out in a report that an improved regulatory environment is a key driver for institutional adoption of cryptocurrencies, especially for both buy-side and sell-side financial institutions. The report mentioned that the US market structure bill is advancing in Congress and needs to be passed in the first half of 2026; otherwise, the November midterm elections may delay the process. Jim Ferraioli, Director of Crypto Research and Strategy at Charles Schwab, stated that after a sharp sell-off at the end of 2025, the pace of institutional adoption may slow in the first half of this year, but the passage of the "Clarity Act" could accelerate the entry of institutional investors. Youwei Yang, Chief Economist at BIT Mining, predicted that the price of bitcoin could reach $225,000 in 2026, but macroeconomic and geopolitical uncertainties may intensify market volatility.