$BTC Genius Act Passed: Major Boost for U.S. Innovation and Skilled Immigration
The U.S. Congress has officially passed the GENIUS Act (Growing Exceptional New Ideas by Unlocking American Talent Act), a bipartisan legislative effort aimed at boosting American innovation and retaining global talent in science, technology, and entrepreneurship.
Key Highlights of the GENIUS Act:
Startup Visa Program: A new visa category will allow international founders with promising startups to live and work in the U.S., provided their business meets investment and job creation benchmarks.
STEM Talent Retention: The act eases the green card process for foreign nationals who earn advanced degrees in STEM fields from U.S. universities.
Fast-Track for Innovators: Highly skilled immigrants with a proven track record of patents, publications, or tech leadership will benefit from a streamlined immigration path.
Funding for R&D: The bill also includes increased federal investment in AI, biotechnology, and quantum research to ensure U.S. leadership in key sectors.
Support & Reaction: Lawmakers on both sides praised the bill for aligning immigration with economic growth. Tech leaders, especially from Silicon Valley, have welcomed the act as a step toward keeping world-class talent in the U.S. rather than losing it to other innovation hubs.
President Biden is expected to sign the GENIUS Act into law this week, marking a pivotal moment for American competitiveness in the global tech economy.
The price is currently forming a falling wedge pattern and is now testing the support trendline. You can consider opening a long position here with a tight stop loss. We may see a bounce from this level toward the resistance line. A break above this wedge pattern could lead to a significant rally.
Rates held steadyĀ ā The Fed left its benchmark federal funds rate at 4.25ā4.50%, unchanged since DecemberĀ 2024. Policy remains āmodestly restrictiveā as inflation concerns persist .
Dot plot signals fewer cutsĀ ā FOMC projections indicate only one 25āÆbp rate cut expected this year, down from two earlier seen in March. This reflects elevated uncertainty from tariffs, geopolitical risks, and sticky inflation .
Persistent risksĀ ā Officials flagged rising uncertainties driven by U.S. trade policy and Middle East tensions impacting oil prices. They emphasized that both inflation and unemployment risks have increased, and the Fed will stay data-dependent .
Reiterated the Fedās āwaitāandāseeā stance, underlining that policy will ācarefully assess incoming data, evolving outlook, and risksā .
Refused to bow to political pressure, stressing the Fedās data-based, independent approach amid calls for easier policy .
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What It Means Moving Forward
No rate cut in June, and markets see the next potential move in September, with odds of a Q3 cut now around **55ā60%** .
The Fed remains vigilant toward inflationary shocks from tariffs and global risks, while also mindful of slowing growth.
Any future rate cuts will depend heavily on upcoming labor, inflation, retail sales, and industrial data.
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š Bottom Line
The Fed held rates steady while signaling a shift toward fewer cuts this year, reflecting growing caution. It emphasized that policy decisions remain data-driven and notāpreāemptive. The focus now turns to upcoming economic releases and evolving geopolitical and trade developments
BTC Dominance has been repeatedly rejected from the resistance trendline of the rising wedge pattern. Currently, it is trading above the Ichimoku Cloud, which is acting as support.
A breakdown below the cloud and the patternās support trendline would signal further downside, while a breakout above the resistance trendline would invalidate the bearish pattern.
Itās important to note that BTC Dominance often shares an inverse relationship with the altcoin market cap.
BCH is consolidating within a symmetrical triangle pattern and is currently trading above both the 21MA and 50MA, which are acting as support and indicating strength.
A solid breakout from the pattern would signal upward movement, while a breakdown below the support level could lead to a downward trend.
tested the support area and bounced back from there. The long position generated more than 10% profit from our entry point. You can add more if the price drops to the support area again. A movement is expected towards the resistance area.