THE SEC JUST FLIPPED ON CRYPTO! THIS IS HUGE!
My Financial Friend
Key Points
- The SEC has announced a new approach to crypto regulation, with a task force to be led by Hester Pierce, aiming to provide clear guidelines and a framework for growth.
- Bitcoin is moving up on this news, with optimism about potential executive orders from Trump.
- Rumors suggest Trump may sign three executive orders related to crypto, including banking and a strategic Bitcoin reserve.
- MicroStrategy is re-accelerating its Bitcoin purchases, with 11,000 Bitcoins bought in the last week.
- Other entities, such as El Salvador and Rumble, are also increasing their Bitcoin holdings.
- Rex has filed for a Doge ETF, as well as ETFs for other cryptocurrencies.
- The Bank of Japan may be considering a rate hike, which could impact the carry trade and crypto markets.
Market Analysis
- Bitcoin is currently stuck between $106,000 and $110,000, with a potential breakout above $110,000 seen as extremely bullish.
- The market is experiencing high volatility, with large wicks and price movements.
- The formation of the SEC's crypto task force is seen as a positive development for the industry, providing clarity and a framework for growth.
Trading and Investment
- The speaker is bullish on crypto, with a potential big push upwards, but warns of volatility and the need for caution.
- They have added to a trade on Bitcoin and opened a position on Suey, with gains of 6% and 14% respectively.
- They advise doing your own research and having cash on the sidelines to prepare for potential market movements.