đđđ đșđž At the end of the month, the U.S. House of Representatives will vote on the bill "HR 4763". (congress)
â "HR 4763" defines the powers of the CFTC and the SEC in the crypto industry.
If the bill is passed, the CFTC will begin to regulate decentralized digital assets (as a commodity), and the SEC will regulate centralized ones (as a security).
đž Ether Could Surprise to the Upside in the Coming Months, Coinbase Says
đ Coinbase says Ether (ETH) could surprise to the upside in the coming months, citing lack of major supply overhangs like token unlocks or miner selling pressure.
đŻ The exchange believes ETH is unlikely to be displaced as the center of decentralized finance due to widespread Ethereum Virtual Machine and layer-2 adoption. Additionally, Coinbase thinks the market may be underestimating the potential approval timing and odds of a U.S. spot Ether ETF, leaving room for upside surprises.
đ Overall, the exchange remains bullish on Etherâs fundamentals and technological innovations within its ecosystem.
đ Analyzing the US Governmentâs Bitcoin Holdings: What You Need to Know
đĄ The U.S. government holds over 1% of the BTC supply, worth $13.16 billion, acquired through enforcement actions against illegal activities like the Silk Road darknet market and Bitfinex hack.
đ Its substantial holdings, tripled since 2021, could significantly impact market dynamics depending on if and how this Bitcoin is liquidated or auctioned off. While providing legitimacy for institutional investors, the concentration challenges Bitcoinâs decentralization narrative.
âčïž Analysts warn the governmentâs ability to influence prices through its sizable stake poses risks to market perception. Monitoring these holdings is crucial for anticipating potential shifts.
đž Legendary Trader Peter Brandt Reveals Whatâs Behind the âBitcoin Is Deadâ Claim of Peter Schiff
đŁ Peter Brandt responded to Peter Schiffâs recent claim that âBitcoin is dead,â suggesting Schiff exaggerates to attract attention despite understanding cryptoâs value.
đŹ Schiff had dismissed Bitcoinâs 9.3% weekly rise, arguing silverâs 21% gain since April proved superior returns. Brandt accused Schiff of promoting his long-standing silver preferences over providing honest Bitcoin analysis. Schiff doubled down, warning of high risks in the âimaginaryâ Bitcoin versus traditional assets.
âčïž Overall, this public disagreement highlights ongoing debate around cryptocurrencyâs future trajectory versus conventional investments.
#Bitcoin finally broke the important support level of $59,400-$61,500 and dropped more than 23% from its high price.
The price has reached the support level of $57,500-$56,200 and it is possible that this level can support the price well and the price will return to the previous level. If not then it will evenually go to 48K.
#BTC Market is stiÄșl the same as yesterday, #BTC did make a dip back due to the fundamental news. Price currently, retesting zone as resistance and stuck in-between, so not expecting much this week and weekend. By next week we'll see some aggressive moves as heavy volatile news comming up.