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Oliver Zerhusen
@oliverzerhusen
New Milestone: We’ve collected over 4K #crypto sentiment data points from the US Congress over the past 2.5 years! Lots of data Lots of insights Lots to share 🧵⬇️
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Oliver Zerhusen
@oliverzerhusen
2️⃣ Politicians express crypto views via public statements and legislative actions that we rate on a 🟧pro to 🟪anti-crypto scale These are data points we track for all 535 members of Congress and aggregate them to establish a trend line for a monthly average crypto sentiment
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Oliver Zerhusen
@oliverzerhusen
3️⃣ Crypto sentiment trended ⬇️ (anti) in 2022, reaching a low point at the FTX collapse in Nov Start of the 118th Congress in early 2023 marked a shift towards a more crypto-friendly sentiment Note: Oct/Nov 2023 dip was a result of the Hamas attack which triggered intense illicit financing debates
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Oliver Zerhusen
@oliverzerhusen
4️⃣ Congress engagement levels monitor how frequently politicians engage in crypto politics via social media posts, bill sponsoring, Congress letters, etc The gray colored segment in the chart counts politicians who at least once engaged in crypto politics each month
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Oliver Zerhusen
@oliverzerhusen
5️⃣ Higher engagement levels by more pro-crypto politicians set the stage for more crypto-friendly legislation to advance in the 118th Congress! 2022: On avg ~19 Congress members engaged in crypto politics /month ➡️ less than 4% Congress 2023: Increase to ~53 ➡️ 10% of Congress
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Oliver Zerhusen
@oliverzerhusen
6️⃣ Interesting parallel: BTC vs Congress Crypto Sentiment 👀 118th Congress introduced 58+ crypto related bills & resolutions ➡️ crypto is becoming a higher priority in US politics! Are market participants gaining confidence from a more crypto-friendly sentiment in Congress?
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Oliver Zerhusen
@oliverzerhusen
7️⃣ Going back to the beginning of 2022, overall Congress sentiment on crypto has mirrored BTC price movement fairly closely Outside of the Oct/Nov 2023 Hamas dip in crypto sentiment, the price of BTC and Congress crypto sentiment moved in the same overall direction Coincidence?
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Oliver Zerhusen
@oliverzerhusen
8️⃣ Crypto sentiment trends & engagement levels in Congress are key metrics that we continue to monitor as key leading indicators for the future regulatory framework We’ll publish the charts on http://cryptopols.com in the coming weeks and update the data on an ongoing basis 🫡
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