FDIC IS CHANGING FOR CRYPTO! ERIC TRUMP SAYS IT'S TIME TO BUY BITCOIN!

Market Update

The DXY is on the verge of losing its 50-day EMA, which is bullish for risk assets.

• The dollar had a weak weekend, which is good for risk-on assets.
• Bitcoin remained strong despite a 10% fall, while other cryptocurrencies fell 40-50%.

Institutional Investment

• U.S. Bank has $24 million in Bitcoin ETFs, which is a small but significant starting point.
• MicroStrategy, the largest holder of Bitcoin, expects its convertible preferred stock (STRK) to be listed on the NASDAQ with an 8% dividend yield.

Regulatory Developments

• 22 states have introduced Bitcoin bills, indicating growing interest in cryptocurrency adoption.
• The FDIC plans to revise bank guidelines for crypto, aiming to allow banks to engage in crypto activities without regulatory permission.

Global Developments

• Eric Trump is bullish on Bitcoin, having bought wrapped Bitcoin recently.
• The president of El Salvador signed a law removing capital gains tax on Bitcoin after three plus years of holding, potentially encouraging accumulation.

Upcoming Events

• Jobs information is coming out tomorrow, which will influence the markets.
• Amazon earnings are also expected, which may impact the market.