News

On Tuesday, the White House AI and Cryptocurrency Director David Sacks held his first cryptocurrency-focused press conference, outlining legislative priorities and revealing major steps by the Trump administration to regulate the emerging industry for the first time: a market structure bill and a comprehensive stablecoin bill. At an event attended by key leaders of the Senate and House of Representatives, Senate Banking Committee Chairman Tim Scott stated that he intends to get these two crucial cryptocurrency bills passed in the Senate before President Trump's first 100 days in office end, which is less than three months from today. Scott added that a stablecoin bill proposed by Senator Bill Hagerty on Tuesday might be passed first.

Matrixport released a new report stating that there is a clear technical divergence between the price of Bitcoin and the Relative Strength Index (RSI). Despite Bitcoin's price consistently staying above $100,000, the RSI has remained in consolidation, indicating that the momentum of potential trends is weakening. Looking back at corrections and consolidation phases before 2024, historically strong buying opportunities only occurred when the RSI dropped to around 40%. Currently, although the RSI is close to this level (48%), it has not yet reached it. Therefore, entering new long positions may be premature. A more strategic approach would be to remain patient and wait for an optimal entry point.