In the past week, there hasn’t been much significant macroeconomic data affecting the market, which is mainly influenced by a few events. First, will Trump make any big moves? Second, will the China-US trade relationship continue to ease? Third, are there any signs of a ceasefire in the Russia-Ukraine conflict? All of these could potentially drive up Bitcoin prices. What’s particularly noteworthy is that the support for the crypto market in the United States is growing! Arizona, New Hampshire, and Texas have passed the 'Bitcoin Reserve Act', along with the 'Stablecoin Act' which was preliminarily passed yesterday. The U.S. is accelerating the push towards the standardization and scaling of the crypto industry.
Once the legislation is in place, the rules will be clearer, and the issuance of stablecoins may increase significantly, attracting more funds into the market and enhancing liquidity. In the long term, this is positive for the crypto space. After all, with policy guidance and legislative protection, the industry can grow and thrive; these bills are a clear signal.
Additionally, it should be noted that several officials from the Federal Reserve have stated that there will not be any interest rate adjustments in the short term, and the probability of rate cuts in June and July is low. They are also observing whether the impact of tariffs on inflation is one-time or long-term. The latest data shows that the probability of a rate cut in June is only 8.6%, in July it is 30.8%, and it rises to 51.3% in September, with the market generally expecting a possible rate cut in September.
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