Today there are three major news stories worth paying attention to!
(1) Last night the Federal Reserve held a meeting, and Powell said "let's wait and see" 11 times during the meeting. This means that the Federal Reserve is likely to keep interest rates unchanged in May, and it's highly probable that there won't be a rate cut in June either. This news is not very friendly for the cryptocurrency market, and some friends, upon seeing this situation, sold their Bitcoin (BTC) in disappointment, causing the BTC price to drop to $95,800. However, strangely, at 4 AM the BTC price skyrocketed again, mainly because two other big news stories emerged.
(2) Texas passed a Bitcoin reserve bill, but this matter is not completely settled yet; it needs to be approved by the entire Texas legislature. Reports say the final result will be revealed within 3 weeks, and the probability of it passing is over 70%. We have previously analyzed that New Hampshire has become the first state in the U.S. to include Bitcoin in its strategic reserves. If other states follow suit, as long as 5 more states join, the annual investment in Bitcoin could reach $5 billion. With so much money flowing in, it's not a dream for the BTC price to break $200,000!
(3) Early this morning, there were reports that Trump is set to announce a trade agreement with the UK. This news seems favorable at the moment, but we also need to be cautious; if the tariffs in the agreement are set too high, it could turn negative. Speaking of trade tariffs, negotiations are still ongoing, and there have even been positive signals between China and the U.S., with both sides planning to meet in Switzerland to discuss. Additionally, domestically, the White House and Congress have strengthened cooperation on tax cuts and plan to pass a new tax and spending bill by early July. Tax cuts are good news for the capital market and BTC.
