The homework for the weekend was not too difficult to do. Today, besides the governor of Arizona rejecting the first BTC state strategic reserve, it was Buffett's speech. The reason why the state strategic reserve did not pass was because the governor believed that Bitcoin still had strong risks and was not suitable for investing in pension funds. However, the second strategic reserve should be submitted to the governor after the Democratic Party passed it next week. The second one does not include pension fund purchases. I don't know if it can be passed. If it doesn't pass, what are the reasons this time. Buffett also has two performances that need to be closely monitored this time. The first is that his cash reserves have reached a historical high, which is likely to represent that this is a sign that stable investors are not so optimistic about the US and US stocks in the future. The second thing is that Buffett believes that there may be situations in the US in the near future, and this dollar bull believes that he can allocate more to other countries' currencies. Although it is not certain, judging from Buffett's investment behavior in the past year, he has intentionally started to reduce his holdings of US stocks. Although the US economy still appears to be stable, whether it can maintain stability while maintaining high interest rates, and maintain it until inflation naturally falls back to 2%, may be a question that all investors cannot ignore. Looking back at the data of Bitcoin, liquidity and trading volume are continuing to shrink, and the decrease in turnover rate is also normal. Although Arizona is bearish, as mentioned before, there will not be much reaction if it is not approved. If it is approved, it will be an epic event. Investors generally do not have high expectations for BTC's strategic reserve. However, this is also the first time that the Democratic Party and the Republican Party have jointly agreed on a state level cryptocurrency strategic reserve. The low turnover rate naturally has little impact on the position of support, and the support between $93000 and $98000 is still very stable, with the accumulated chips approaching 2.7 million. The upcoming market will still be event driven, and next week's Federal Reserve interest rate meeting needs to focus on it. This tweet is sponsored by @ ApeXProtocolCN | Dex With Apex