Bitcoin has recently experienced a slight price drop, currently trading around $94,219, reflecting a 0.1% decrease over the last 24 hours. This minor dip comes amid market uncertainty surrounding the U.S. Federal Reserve’s upcoming interest rate decision.
Despite the short-term decline, experts believe this is a healthy correction following Bitcoin’s sharp rally in late April. Profit-taking near the $95,000 level has increased, which could cause further short-term volatility.
Interestingly, Binance co-founder Changpeng Zhao has predicted that Bitcoin could reach $500,000 to $1,000,000 during this market cycle—driven by institutional adoption and growing trust in crypto. Some analysts also link Bitcoin’s future with gold, suggesting that if gold hits $5,000, Bitcoin may surge to $155,000 or more.
On the national front, Pakistan has announced plans to use its surplus electricity for Bitcoin mining, indicating a progressive shift toward embracing blockchain technology and digital assets.
Stay tuned as the crypto world continues to evolve!
Key House Republicans have unveiled a 212-page draft bill aiming to establish a comprehensive framework for U.S. crypto regulation.
Key highlights include: 🔹 Clear division of oversight between the SEC and CFTC 🔹 A pathway for decentralized tokens to move out of securities classification 🔹 Separate treatment for payment stablecoins 🔹 Legal protections for developers and validators 🔹 Exchanges and trading platforms regulated under the Bank Secrecy Act 🔹 No special exemptions for blockchain-based swaps or derivatives
Why now? Current securities laws aren’t built for decentralized technology.
As Rep. Dusty Johnson put it: “America needs to lead in digital asset innovation — with clear, commonsense rules.”
All eyes on tomorrow’s joint hearing — will it push things forward?#FOMCMeeting