This is the premise that we have finished, but there is no direct relationship between whether the ETF passes and whether the price rises. There are too many factors that affect price changes, and emotion is one of them. It is undeniable that what is currently driving the rise is still the belief that it can be achieved in the short term. The realized BTC spot ETF can be said to be paying for this expectation in advance. Whether it can continue to rise, and if so how much it can rise, I don’t know. After all, it is still in the stage of anticipation. Of course, many friends say that buying is It is expected that the realization of expectations may become negative. This is correct from the perspective of the currency market, but from the narrative of BTC and ETH itself, it is still wrong, because the essence of spot ETFs can solve the flow of the currency market itself. There are issues with security and market makers, so even if spot ETFs are implemented, they will still be an epic benefit.

So what friends are most concerned about is whether it will continue to rise and whether there will be a correction to give everyone a chance to get on board. As I said before, I don’t know. There are too many factors that affect the price. Maybe today the SEC will It will be announced that a certain fund’s spot ETF has been approved, and then the price will continue to skyrocket. Even if it rises to 40,000 US dollars, I will not be surprised. It is also possible that the two anti-terrorism meetings tomorrow and the day after tomorrow will cause the United States to begin to restrict the circulation of cryptocurrency. Yes, you read that right, and I’m not talking nonsense. Do you remember what we saw last week that the U.S. House of Representatives Finance Committee will question SEC Chairman Gary for the second time on the 24th of this month? This meeting was cancelled. I don’t know why. But as you can see from our screenshots, we did have this arrangement last week, but when I looked at it today, it was no longer there.

We all know that the last inquiry can be said to force Gary to pass the BTC spot ETF as soon as possible. As for whether there is capital intervention behind it, we will not make too many guesses, but since there is no more, there are only two possibilities, either It means that the SEC has given in, Gary has made it clear when the spot ETF will be listed, and the members of the House Finance Committee or the capital behind it already know the result, then there is no need to continue to force Gary, just let him continue with the process. This is the first possibility, and we have seen that although the radical "review of the SEC's agenda" has been cancelled, there is an additional content of "modernizing financial services through innovation and competition", which also explains digital assets and payments. content, but it is true that the SEC and Gary have nothing to do with it.

Then the second possibility is that although there is support from capital, due to other reasons, the power of capital is not enough for the House Finance Committee to continue to help fund advancement. Also last week, I wrote a special topic about the United States Congressmen United 100 lawmakers ask the White House to crack down on Hamas’ use of cryptocurrencies. The reason why I mention this is because after canceling the interview arrangement with Gary, two new meetings were added, and they were focused on two days. One was "How the United States and its allies can prevent Hamas, Hezbollah and Iran Evade Sanctions and Fund Terror,” and the other Thursday night is “Moving Money: Understanding the Iranian Regime’s Access to Funds Around the World and How They Use It to Support Terrorism.”

You can tell from the title that the meeting was about restricting the flow of funds. Why is cryptocurrency related? Because I have read the committee memorandums of these two hearings. The first meeting has clearly touched on the help of cryptocurrency to "terrorist organizations." However, it was also made clear that current cryptocurrencies, including BTC, are not the main way to finance terrorist organizations as defined by Europe and the United States, and it was also stated that the United States has enough experience in obtaining information on the chain, and if there is similar funding, it should be discovered. So judging from the memo, although the outcome of the hearing is not known, it should not be overly negative. What needs to be noted is whether some lawmakers will use this name to impose restrictions on cryptocurrencies, such as the well-known closure of accounts. , as for the specific details, we will not know until the meeting starts.

The memorandum of the second meeting only contained a few simple sentences and did not directly involve cryptocurrency. However, it is not clear whether there will be any relevant content after the hearing begins. However, through the changes in the hearing of the House Finance Committee, we can indeed see that there are more and more discussions and issues related to cryptocurrency. This is definitely a good thing for the development of the currency market itself. Only greater compliance can make this market move forward. I can imagine that some friends will ask after reading it, whether this is a good thing or a bad thing, I don’t know, but the cancellation of the SEC’s inquiry is for sure, and it is up to everyone to understand why it was cancelled. I still say the same thing, the more people know that the SEC may approve it, the greater the price increase of Coinbase will be. The closer the approval time is, the more obvious the increase of Coinbase will be.