Today's main events should be two.

CN
Phyrex
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18 hours ago

Today's main events should be two things. One is related to $BTC itself. Finally, the first state in the U.S., New Hampshire, has passed a strategic reserve that includes cryptocurrencies, allowing the purchase of precious metals and cryptocurrencies with no more than 5% of state funds each year, as long as their market value exceeds $500 billion. The only cryptocurrency that meets this criterion is Bitcoin, and the funds that New Hampshire can mobilize are estimated to be between $280 million and $770 million.

Although this is not a large amount, it indeed creates history. Many friends believe that such a backward state lacks financial strength, but with New Hampshire leading the way, more states are likely to adopt Bitcoin's strategic reserve. For example, today, the second BTC strategic reserve SB1373 from Arizona was submitted to Governor Hobbs. Last Sunday, Hobbs vetoed the first bipartisan SB1025 in the U.S. on the grounds that BTC is not suitable for pension investments. This SB1373 does not include pensions, so we will see what happens next Tuesday.

The other event is that the U.S. has recently auctioned 3-year and 10-year Treasury bonds over the past two days, and both auctions went smoothly. The only thing to note is that the purchasing power within the U.S. is significantly increasing, while the purchasing power of other countries is weakening. This means that U.S. Treasury bonds will draw more liquidity from American investors. Additionally, there is still a 30-year Treasury bond auction coming up, which may also be one of the reasons why U.S. stocks have been declining continuously without negative news.

Looking back at Bitcoin's data, today's turnover rate continues to decline. Even though the BTC strategic reserve has been approved, it has not yet stimulated significant trading volume. So far, the trading volume is even lower than the same period yesterday, indicating a trend of "not being able to buy" at the current price. It cannot be ruled out that investors are choosing to hedge before the Federal Reserve's interest rate meeting.

Therefore, it is more important to wait for tomorrow's Federal Reserve interest rate meeting and Powell's speech. There is no possibility of an interest rate adjustment in May, so we will see whether Powell's remarks are dovish or hawkish.

The support data remains very solid between $93,000 and $98,000. This data has been tested for a long time and has never been missed. The magnetic effect of the concentrated area of chips is very effective, but currently, this support area is also a resistance level. To seek an upward breakthrough, a stronger positive effect is still needed.

This tweet is sponsored by @ApeXProtocolCN | Dex With ApeX

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