Usually, such silence in the market is a harbinger of movement. Or, as they say, 'the spring is being compressed.'
What is worth noting from the latest review:
1. The main driver of growth is institutional investors and companies.
In April, companies added nearly 100,000 BTC to their balances. The number of new players who started buying Bitcoin for the first time is 15. Meanwhile, retail investors are still wary—the current levels do not instill confidence in them.
The supply of BTC on exchanges has fallen to a minimum in the last 7 years, and miners are producing several times less than the market requires.
Doesn't this resemble the supply shock we once talked about?
2. Arizona could become the first state with a crypto reserve.
The state House of Representatives has approved a bill allowing investment of up to 10% of state reserves in Bitcoin and other digital assets. The document has been sent for the governor's signature. If he supports it, Arizona will become the first state with an official crypto reserve.
This will be a precedent that other states may well take advantage of.
3. The U.S. sees BTC as digital gold.
Bo Hines, Executive Director of the U.S. President's Council on Digital Assets, stated:
A 'space race' for accumulating Bitcoin is already underway between countries. The U.S. views BTC as digital gold and is working on a strategy that will allow it to build reserves without putting direct pressure on the budget.
If this initiative does not slow down, we may hear the official position of the Ministry of Finance regarding the purchase of BTC for strategic reserves within a few months.
There is no obvious negativity observed so far. Except that from time to time, there are loud statements from Trump—but that's already become a habit.
P.S. Author: Business in Torn Pants