Good morning, friends! $BTC once broke through 98000! Congratulations to those holding BTC 🥳🥳
Today there are 3 major news items 🔥🔥💥🚀
1. Last night at the Federal Reserve meeting, Powell said 'let's wait and see' 11 times. While maintaining the interest rate in May, it is highly unlikely there will be a rate cut in June, which is not very favorable for the crypto market. Just as some friends were disappointed and sold their BTC, causing it to drop to 95800, the reason why BTC surged again at four in the morning is mainly due to the two major news items below.
2. The Texas Bitcoin Reserve Bill has passed, but it still needs to go through the final voting stage in the Texas legislature. The final decision will be announced in three weeks. The probability of it passing in Texas in three weeks is greater than 70%. New Hampshire has become the first state in the U.S. to pass a strategic BTC reserve law. Other states in the U.S. will follow suit; if five states join, that will result in a buying power of 5 billion USD each year, which will help push BTC to break through 200,000 USD.
3. Trump will announce a trade agreement with the UK, which was reported early this morning. Reaching an agreement is currently interpreted as positive, but if the agreement indicates excessively high tariffs, it will turn into negative news, which we must be cautious about. Currently, negotiations on trade tariffs are progressing, and there have even been positive signals between China and the U.S. to meet in Switzerland for negotiations. On the other hand, regarding domestic tax cuts, the White House and Congress have strengthened cooperation and plan to pass new tax and spending legislation in early July. Tax cuts are favorable for the capital market and BTC.
If the tariffs in the agreement reached by Trump are not high, then there is hope for BTC to break through 110,000 USD in May.
It is recommended to hold coins patiently: mainly BTC (over 50% position), with altcoins as a supplement (below 30% position) while waiting for BTC to break through!!
