The U.S. relaxes restrictions on bank cryptocurrency activities, and the new regulations eliminate the FDIC's prior approval requirement:

The Federal Deposit Insurance Corporation (FDIC) issued new regulations on March 29, allowing banks to engage in cryptocurrency-related activities without prior regulatory approval. This policy shift marks a significant change in the attitude of U.S. financial regulators towards digital assets.

FDIC Acting Chairman Travis Hill stated that this adjustment aims to support financial innovation and remove barriers for banks participating in blockchain and cryptocurrency projects. The new regulations abolish the previous requirement for banks to report cryptocurrency activities in advance, reflecting a reassessment of the restrictive policies implemented after events such as the 2022 Terra stablecoin crisis.

The U.S. loosening restrictions on bank cryptocurrency activities significantly benefits the cryptocurrency industry:

1. Direct benefits: Accelerating mainstream financial acceptance of cryptocurrency

  • Increased funds and liquidity: Direct participation of banks in cryptocurrency activities (such as custody, trading, lending) will bring more institutional funds to the market, enhance liquidity, and may promote long-term stability of cryptocurrency asset prices.

  • Lowering the participation threshold: Ordinary users can access cryptocurrency through traditional bank channels, significantly reducing the investment threshold for retail investors and expanding the user base.

  • Enhanced regulatory certainty: The FDIC's policy adjustment signals a shift in regulatory attitude, which may alleviate industry concerns about 'policy suppression' and attract more compliant companies to enter the market.

2. Indirect promotion: Ecological development and innovation

  • The integration of traditional finance and cryptocurrency: Banks may launch financial products that combine cryptocurrency (such as crypto savings accounts, ETFs, etc.), further blurring the boundaries between traditional finance and the crypto market.

  • Improved infrastructure: Banks need compliant blockchain solutions (such as stablecoins, compliant trading platforms), which will promote the development of regulatory-friendly technologies and services.

Bitcoin perspective:

During the consolidation period at the 4-hour level, Bitcoin had an upward channel, which was broken last night with increased volume! The KJ indicator is also in the oversold range, and MACD and RSI are also in a bearish arrangement.

Summary: The current trend was previously in an upward channel, but broke down with increased volume last night, weakening the trend. Technical indicators lean bearish: KJ is oversold, MACD and RSI are in a bearish arrangement, and a short-term correction may continue.

Short-term focus on the 83500 area and the 80500 area. If there is a significant rebound in these two positions, it is an opportunity to enter for a rebound. If not, it is better to refrain from trading for now. Just be patient.

For the trading strategy, consider entering short-term positions if a rebound occurs near 83500 or 80500 (for example, a long lower shadow or a strong volume increase).

If there is a downward trend or a shrinking rebound, then be patient and do not blindly catch falling knives! $btc