1: Tether announced that it will use 15% of its monthly operating profits to buy Bitcoin. The company behind the largest stablecoin Tether is following in the footsteps of MicroStrategy to manage its reserves. The stablecoin issuer plans to strengthen its reserves with the help of Bitcoin and get rid of the US-based government debt.

2: The United States expressed confidence in ending the deadlock with the Republicans and avoiding default. The above two points boosted market sentiment and BTC rose accordingly.

Is BTC bullish or bearish?

A series of strong U.S. economic data this week means that BTC is bearish in May, which makes the interest rate hike in June the focus of attention again. If the interest rate is raised again, it will be a positive for the US dollar and Bitcoin will have a risk of falling. BTC has strong selling pressure near 27680. You can ambush and enter the market below 27600 in advance, and look to around 26500. If it breaks through 27680, it means that the bulls are strong, and BTC will be pushed to 30,000 points.