The old fox Powell of the Federal Reserve is playing Tai Chi again, saying 'let's wait and see', clearly indicating that there are no plans to cut interest rates in May and June. The crypto brothers just sold off and dropped to 95,800, only to suddenly surge violently. There are two big tricks hidden behind this operation!
Texas has just given the green light to the Bitcoin reserve bill, although we have to wait three weeks for the final vote, but the probability of passing is over 70%. It’s worth noting that New Hampshire has already taken the lead in trying it out, and if five more states join, that’s truly 5 billion dollars in real money entering the market each year; 200,000 dollars is really not a dream!
What’s even more exciting is that Trump has suddenly leaked news that he wants to sign a trade agreement with the UK. The market is currently speculating it as good news, but the specific terms haven’t been released yet. If it turns out to be a high tariff version, it could immediately turn into bad news. However, global trade is indeed warming up, and even the US and China are set to meet in Switzerland for negotiations. Plus, with a possible tax reduction bill in the US that may pass in July, the overall environment is actually quite favorable for the crypto market.
So don’t be fooled by the Federal Reserve's posturing; the big trend is still upward. The people on Wall Street have already seen through this, and this surge is clear evidence!
100,000 is within reach, but Ethereum is still at 1,800. At this position, going short or long is not advisable; it’s better to watch more and act less.
Good morning, traders.