Today’s 3 major news
1. At last night's Federal Reserve meeting, Powell said 'let's wait and see' 11 times.
While maintaining interest rates in May, it is highly likely there will be no rate cuts in June either.
Not very favorable for the cryptocurrency market; just when some brothers were disappointed and sold their BTC, it dropped to $95,800.
But why did BTC surge again at 4 AM? Mainly due to two major news items.
2. Texas Bitcoin Reserve Bill Passed
However, it still needs to go through the final full vote stage in the Texas legislature.
The final decision on whether it passes will be announced within 3 weeks.
The probability of passing in Texas in 3 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. may follow suit; as long as 5 states join,
there will be a buying power of $5 billion each year.
This power will help push BTC past $200,000.
3. Trump will announce a trade agreement with the UK
This news came out early this morning, and the agreement is now interpreted as favorable.
However, if the agreement shows excessively high tariffs, it will turn unfavorable, which we must be cautious about.
Currently, negotiations on trade tariffs are progressing,
even showing positive signals between China and the U.S. to meet in Switzerland for talks;
on the other hand, domestically, the White House and Congress have strengthened cooperation on tax cuts,
planning to pass new tax and expenditure bills in early July.
Tax cuts are favorable for capital markets and BTC.
If Trump’s agreement does not involve high tariffs,
then BTC has a chance to break through $110,000 in May.
It is recommended to hold patiently: primarily BTC (over 50% position), altcoins as a supplement (below 30% position)
waiting for BTC to break through!
