White House signals Biden will sign crypto market bill if it | Happyadina on Binance Square

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White House signals Biden will sign crypto market bill if it passes Congress: CNBC news#ETHETFS #BTC #eth 

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“I Know Bitcoin Is Going to $1.0 Million”: Samson Mow Samson Mow, CEO of Jan3, predicts Bitcoin will hit $1 million due to market dynamics. Mow attributes this potential surge to increasing demand and supply constraints, particularly from Bitcoin ETFs and the upcoming Bitcoin halving events. He suggests Bitcoin might experience a sudden price increase from $70,000 to $200,000. Despite a recent decline in non-empty Bitcoin wallets, indicating some short-term bearish sentiment, Mow remains confident in Bitcoin’s long-term upward trajectory. His forecast is driven by fundamental economic principles and the growing institutional adoption of Bitcoin. He acknowledges the uncertainty of the exact timing but remains confident in the overall trajectory towards $1 million.$BTC $ETH $BNB

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Why Has The Bitcoin (BTC) Price Still Not Surpassed $100,000? Bitcoin has not yet reached $100,000 due to a combination of factors, as outlined by analyst Charles Edwards. Key reasons include substantial selling pressure from long-term holders, which has neutralized the positive impact of Bitcoin ETFs. The anticipated effects of Bitcoin halving, which reduces daily issuance, have not fully materialized in the market. Additionally, the market is experiencing seasonal slowdowns, and USD liquidity remains stagnant, both contributing to the price stagnation. Edwards suggests that for Bitcoin to reach the $100,000 milestone, certain conditions need to change. Increased purchasing activity from Bitcoin ETFs could provide the necessary upward momentum. Additionally, a reduction in the selling activity from long-term holders would help alleviate some of the downward pressure on the price. Improved liquidity conditions in the US financial markets could also play a crucial role in supporting a higher Bitcoin price. These insights underscore the complexity of Bitcoin’s price movements and the interplay of various market forces. Future developments in these areas could potentially drive Bitcoin toward the $100,000 mark, but it will depend on how these factors evolve over time. $BTC $ETH $BNB

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Bitcoin needs ‘3.3% or lower’ CPI print to reach new ATH Bitcoin’s price could hit a new all-time high if the U.S. Consumer Price Index (CPI) for May reports at 3.3% or lower, according to Markus Thielen from 10x Research. Thielen explains that Bitcoin’s value has been significantly influenced by inflation data. Historical trends show that higher-than-expected CPI results typically lead to price declines. For instance, in April 2024, Bitcoin’s price fell sharply following a CPI of 3.5%, which was above market expectations. Thielen underscores that Bitcoin’s recent price movements have mirrored inflation trends, especially as the cryptocurrency is seen as a hedge against inflation. If inflation is perceived to be under control, it could bolster investor confidence and drive up Bitcoin’s price. Conversely, unexpected inflation spikes could deter investors, fearing economic instability and potential interest rate hikes from the Federal Reserve. Currently, the market exhibits a bullish sentiment towards Bitcoin, partly due to substantial inflows into Bitcoin Exchange-Traded Funds (ETFs). These inflows are indicative of strong investor interest and confidence in the cryptocurrency’s future performance. However, Thielen cautions that the momentum could be threatened if the CPI surpasses expectations, potentially triggering a sell-off. The broader macroeconomic environment is also crucial. The Federal Reserve’s monetary policy, particularly its stance on interest rates, plays a vital role. A lower-than-expected CPI could signal to the Fed that inflation is cooling, possibly leading to a pause in rate hikes, which would be favorable for Bitcoin. Conversely, persistently high inflation could compel the Fed to maintain or even increase rates, negatively impacting Bitcoin. #btc70k #altcoins #cpi #ETHETFsApproved $BTC $ETH $BNB

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Donald Trump is now 'good with' Bitcoin, wants its future 'made in the USA' Donald Trump, once a vocal critic of Bitcoin and other cryptocurrencies, has recently shifted his stance, now showing support for the digital currency. During his presidency, Trump expressed concerns about Bitcoin, labeling it a potential tool for illegal activities and a threat to the dominance of the U.S. dollar. Despite these earlier reservations, Trump’s perspective has evolved significantly. This shift in attitude is partly attributed to his financial success with non-fungible tokens (NFTs), which gained substantial value during the cryptocurrency boom of 2021. Trump’s NFT ventures reportedly brought him significant profits, which likely influenced his newfound appreciation for digital assets. Speaking generally about crypto, Trump concluded, "I'm fine with it. I want to make sure it's good and solid and everything else, but I'm good with it." That positive rhetoric continued at the Libertarian National Convention on May 25, 2024. In prepared remarks posted to Truth Social, Trump said, "I am very positive and open-minded to cryptocurrency companies, and all things related to this new and burgeoning industry. Our country must be the leader in the field." Currently, Trump champions a vision for Bitcoin’s future that is firmly grounded in the United States. He argues that the U.S. should lead in cryptocurrency innovation and regulation, ensuring economic benefits and technological advancements associated with digital currencies remain within the country. Trump’s stance includes advocating for policies that would encourage cryptocurrency entrepreneurs and companies to establish their operations in the U.S. Trump’s current crypto portfolio is diverse, his holdings are valued at approximately $11 million and span various digital assets. This significant investment reflects his confidence in the potential of cryptocurrencies as valuable assets and a hedge against traditional financial systems.

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Bitcoin options dominate May’s $6.5 Billion expiry The month of May saw a significant event in the cryptocurrency market with the expiration of Bitcoin options worth $6.5 billion. This expiry, which took place on May 31, was marked by a predominantly bullish sentiment among traders and investors. The options market was heavily skewed towards call options, indicating widespread optimism about Bitcoin’s price trajectory. Many of these call options were set at strike prices as high as $72,000, reflecting expectations that Bitcoin could achieve or surpass this level. However, despite this optimism, Bitcoin’s actual market performance fell short of these high expectations. As the expiry date approached, Bitcoin’s price remained below $70,000, causing a considerable portion of these bullish bets to risk expiring worthless. This situation highlighted a significant gap between market expectations and actual price movements. The options market is an important part of the broader financial ecosystem as it allows investors to speculate on price movements and hedge against potential losses. The dominance of call options in May’s expiry suggested that many investors were betting on a continued upward trend for Bitcoin. Call options give the holder the right, but not the obligation, to buy an asset at a specified price within a certain timeframe. When traders purchase call options with high strike prices, it indicates a strong belief that the asset’s price will rise significantly. However, the market dynamics are complex, and several factors influence Bitcoin’s price movements. Despite the bullish sentiment reflected in the options market, Bitcoin’s price faced resistance at lower levels. Market analysts pointed out that without substantial short-term catalysts, such as positive regulatory news, major institutional investments, or significant technological advancements, Bitcoin was unlikely to reach the higher strike prices of the call options. $BTC #btc70k

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