$BTC
Trump has been causing quite a stir lately, so let's talk about him first.
He's almost encroaching on retirement funds; if 401k truly opened up for investment in crypto assets, even just a tenth would amount to $900 billion, isn't that just handing out money?
And Powell is really having a tough time now; if he doesn't lower interest rates, Trump is on social media tearing him apart every day. Even Musk has jumped in to criticize, making it tough for Powell to navigate. If he had a slightly weaker mental fortitude, he would have packed up and run away by now.
Back to the market, Bitcoin's spot premium index has started to rise, the bulls are beginning to take action, and the bears are coming in as well. Prices are falling, and premiums are rising. Many people really can't understand it; they are scared when prices go up and even more scared when they go down.
This wave of Bitcoin hit the resistance zone above 120K, and yet it closed with a long upper shadow in 4 hours, which still indicates there is supply pressure above, right?
But the support below isn’t weak either; the 117.6K level has been tested twice and has held the market steady, which is also a preparatory move for an upward trend.
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