Bitcoin’s Resilience Spurs Optimism as Credit Tightens

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Bitcoin (BTC) is maintaining key support levels, with some analysts forecasting potential for a new all-time high. At the same time, several major U.S. banks are scaling back new credit approvals and shifting focus toward higher-income customers, reflecting a cautious lending environment.

The world’s leading digital currency has shown renewed strength in recent trading sessions. Cryptocurrency analyst Michaël van de Poppe highlighted the $61,800 level as a critical support threshold, suggesting that sustained momentum above this mark could set the stage for further gains. Investor sentiment remains optimistic amid continued institutional interest and broader market resilience.

While digital assets gain traction, the traditional banking sector is tightening its credit policies. In Q2, major U.S. banks, including JPMorgan Chase, Citigroup, Capital One, and American Express, reduced new credit card approvals by 5%, marking the first quarterly decline in over a year. This shift primarily affects borrowers with lower credit scores or inconsistent income.

Capital One CEO Richard Fairbanks stated the bank is now focused on “heavier spenders,” prioritizing customers with strong credit histories and higher transaction volumes. The bank recently opened a luxury airport lounge at JFK International Airport, accessible only to premium Venture X cardholders.

Similarly, American Express reported a 6% drop in new credit accounts but saw an increase in average annual card fees, rising from $101 to $117. The company noted higher premium spending, including a 10% increase in first-class airfare and a 9% rise in luxury short-term rental bookings.

Data from the Federal Reserve’s Senior Loan Officer Opinion Survey shows more banks raising credit standards than easing them. Marketing firm Competiscan reported that 87% of credit card mailings in April targeted individuals with top-tier credit scores.

This trend highlights a shift in financial access, as institutions adopt risk-averse strategies. While high-income customers benefit from premium offerings, credit access for middle-income and subprime borrowers is narrowing. LendingTree data shows average credit card interest rates now exceed 24%.

Despite growing credit balances, delinquency rates have remained stable. JPMorgan CEO Jamie Dimon noted that while the U.S. economy shows resilience, “significant risks persist.”

The contrast between Bitcoin’s upward trend and conservative moves in traditional finance reflects a changing financial landscape. Digital assets continue to attract attention as an alternative investment avenue, while banks focus on safeguarding margins and limiting exposure to credit risk.