The historic moment has come. The House of Representatives of the United States, the world's largest economy, will solemnly vote on the crypto market plan!
Bitcoin drew another small door last night, and many people panicked again and ran out to shout short. In fact, it only fell from 63,000 to 60,800!
Now the world's top traditional financial institutions are pouring into the crypto market. Crypto assets have become a national strategic asset issue. How can you say it will fall? If it falls again, the whole world will be waiting to buy the bottom! So don't panic! Hold on to your coins! Wait patiently for a few days! Maybe you only need to wait a few more days!
The U.S. House of Representatives will hold a full vote on the crypto market structure bill FIT21
Patrick McHenry, chairman of the U.S. House Financial Services Committee, said the most comprehensive U.S. cryptocurrency legislation to date will make new progress and the full House will soon vote on whether to approve the bill.
According to McHenry, the bill is on track to become the first significant digital asset regulatory legislation to pass one of the two chambers of Congress, as it has been cleared by the House Rules Committee for a vote next month.
The bill, which also was approved by the House Agriculture Committee, is "the culmination of years of bipartisan work to finally provide clarity," said McHenry, who is retiring from Congress at the end of the year and has made encryption legislation one of his priorities before he leaves office.
Is there anything more exciting than this? Even the election of the United States, the world’s largest economy, can be seen as a positive for the crypto market!
QCP Capital: US election may become a bullish factor for the cryptocurrency market
QCP Capital released an analysis that the US election will end in November this year, and historically the market has tended to be optimistic about elections.
Trump has been making crypto-friendly proposals, which may be a bullish factor for the cryptocurrency market. In addition, unless the Federal Reserve explicitly rules out rate cuts or hints at rate hikes, the market seems to continue to digest the impact of rate cuts, and these expectations may keep the market bullish for some time.
The big boss shouted: Biden will destroy the cryptocurrency world!
Cardano founder Hoskinson publicly called out: Voting for Biden is against the US cryptocurrency industry! Let's understand the reason for this
Hoskinson slammed the Biden administration:
Cardano founder Charles Hoskinson accused the administration of U.S. President Joe Biden of working to kill the cryptocurrency industry in the U.S. in a video. He said that the U.S. government has hurt the industry over the past few years by restricting bank account access, regulating policies, and obstructing the legislative process.
Hoskinson's opinion:
Hoskinson believes that voting for Biden is a vote against the U.S. cryptocurrency industry. He also criticized the U.S. Securities and Exchange Commission (SEC) for using outdated legislation to regulate emerging asset classes, calling it a ridiculous claim.
International cases cited:
Hoskinson mentioned countries such as Switzerland, Singapore and Dubai as jurisdictions that are welcoming to crypto companies and have received investment cases worth millions of dollars from thousands of companies. He said that if the US crypto policy is reasonable, these companies may register in the United States.
White House attitude: Before Hoskinson made his remarks, the White House expressed strong opposition to the repeal of the U.S. Securities and Exchange Commission's guidelines that prevent banks from custodial crypto assets. The White House claimed that the repeal of this guideline would hinder the SEC's ability to protect investors in the crypto asset market and the financial system.
Trump has publicly stated that he will support the development of the cryptocurrency industry. So will you support Biden or Trump?
Back to the board
The market has entered a shock wash phase. The previous prediction remains unchanged. The fluctuation of BTC between 60,500 and 65,000 is necessary for wash. The lower point is around 56,000, and some retail investors will begin to be washed out.
After a period of adjustment, BTC should continue to consolidate between 66,000 and 70,500, and then start a strong altcoin season.
BTC has strong support at 56,000. Although various news have put pressure on the market, patience is the key to winning the game. The current fluctuation range will eventually break upward, and the real big market will start a new round of main waves when the election or the government's interest rate cut is implemented. Therefore, patience is the key!
1. First is the AI version, which has independent narrative capabilities and can run through the entire bull market. With the upcoming Apple WWDC, NVIDIA earnings report and ChatGPT 5, many catalysts are about to emerge.
RNDR is worth watching as a leader in the long term, and due to their official 'partnership' with Apple, it also becomes a leader in the field of artificial intelligence as we witness the narrative rotation.
FET, AGIX, and WLD are all strong currencies, and they will rise violently every time there is a wash-out and decline.
2. The performance of the SOL chain ecosystem in this round is obvious to all. Pay attention to the underlying JUP and JTO. There is news that Jito is building the 'Solana feature layer' - essentially reinjecting SOL.
3. Double E ecosystem, ENA and ETHFI Although the Ethereum ecosystem currently performs the worst in this bull market, the double E cannot be ignored. ETHFI - Although many LRT-related tokens were sold off after Eigen, TVL seems to be increasing. USDE behind ENA also has sustained profitability.
4. Meme sector: WIF, PEPE, and BOME are all relatively strong, and their rebound capabilities are always far ahead. They are must-buy sectors when prices fall.
5. There is no need to explain too much about the RWA track. ONDO and others are still worth paying attention to, and look for opportunities to enter the market at low prices.
6. YGG, GALA, LPT and other strong coins are worth looking forward to and can be launched at any time.
Create a high-quality circle
Spot mainly
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