U.S. Treasury Secretary Scott Bessent stated yesterday that USD-backed stable coins could reach a market capitalization of $2 trillion or more. His remarks indicate growing governmental interest in cryptocurrencies, particularly stable coins, as a potentially vital component of the future financial system. Bessent emphasized that with proper regulation, stable coins could enhance payment efficiency, reduce transaction costs, and expand access to financial services for millions of people.
He also noted that stable coins could help broaden the global use of the U.S. dollar and that congress is advancing legislation requiring such coins to be backed by high-quality assets like U.S. Treasury bonds.
It's worth noting the U.S. Senate yesterday voted 68 to 30 to pass the Stable coin Regulation Act, bringing it closer to final approval. If enacted, the legislation could lead to a 10x increase in stable coin supply over the next for years - up to $2 trillion. As a result, stable coin issuers may acquire up to $1.6 trillion in U.S. government bonds for their reserves.
As for the medium-term strategy , I will continue to capitalize on deep pullbacks in Bitcoin and Ethereum, anticipating continuing the broader bullish market trend.
As for short-term trading, the strategy and conditions are described below.
Scenario 1: Buy Bitcoin today on a break above $108,1000, with a target of $108,700. Exit the buy position near $108,700 and open a short on the pullback. Before buying, ensure the 50-day moving average is below the current price and the Awesome Oscillator is in positive territory.
Scenario 2: Buy from the lower boundary of $107,500 if there is no market reaction to its breakout, aiming for a reversal back to $108,100 and $108,700.
Sell Scenario
Scenario 1: Sell Bitcoin today from $107,500, targeting $106,800. Exit shorts at $106,800 and consider buying on the bounce. Confirm that the 50-day moving average is above the current price, and the Awesome Oscillator is in negative territory.
Scenario 2: Sell from the upper boundary at $108,100 if there is no follow-through breakout, targeting $107.500 and $106,800.
He also noted that stable coins could help broaden the global use of the U.S. dollar and that congress is advancing legislation requiring such coins to be backed by high-quality assets like U.S. Treasury bonds.
It's worth noting the U.S. Senate yesterday voted 68 to 30 to pass the Stable coin Regulation Act, bringing it closer to final approval. If enacted, the legislation could lead to a 10x increase in stable coin supply over the next for years - up to $2 trillion. As a result, stable coin issuers may acquire up to $1.6 trillion in U.S. government bonds for their reserves.
As for the medium-term strategy , I will continue to capitalize on deep pullbacks in Bitcoin and Ethereum, anticipating continuing the broader bullish market trend.
As for short-term trading, the strategy and conditions are described below.
Scenario 1: Buy Bitcoin today on a break above $108,1000, with a target of $108,700. Exit the buy position near $108,700 and open a short on the pullback. Before buying, ensure the 50-day moving average is below the current price and the Awesome Oscillator is in positive territory.
Scenario 2: Buy from the lower boundary of $107,500 if there is no market reaction to its breakout, aiming for a reversal back to $108,100 and $108,700.
Sell Scenario
Scenario 1: Sell Bitcoin today from $107,500, targeting $106,800. Exit shorts at $106,800 and consider buying on the bounce. Confirm that the 50-day moving average is above the current price, and the Awesome Oscillator is in negative territory.
Scenario 2: Sell from the upper boundary at $108,100 if there is no follow-through breakout, targeting $107.500 and $106,800.
Note
Bitcoin and Ethereum plunged following Israel's overnight strike on Iran's nuclear facilities, triggering a massive sell-off of risk assets, including in the cryptocurrency market.Should Iran launch a serious retaliatory strike on Israel, the military conflict could escalate into a full-scale war. This would trigger a much larger sell-off across all markets, significantly impacting the cryptocurrency space.
Trade active
Sell ScenarioScenario #1: Upon reaching the entry point of around $105,383, I will sell Bitcoin today with a target of falling to $101,300. Around $101,300, I plan to exit short positions and buy immediately on the rebound.
Before selling on a breakout, ensure the 50- day moving average is above the current price and the Awesome Oscillator is in the negative zone.
Scenario #2: Bitcoin can also be sold from the upper boundary of $106,809 if there is no market reaction to its breakout, with a rebound toward $105,366 and $103,125.
Note
Bitcoin and Ethereum regained their positions following a major sell-off at the end of last week. which occurred after the outbreak of the military conflict between Iran and Israel. This morning, the price surged above $106,000 after a volatile weekend driven by the ongoing conflict.The geopolitical instability caused by Israeli strikes on Iranian nuclear facilities briefly pushed BTC down by 4%, highlighting Bitcoin's sensitivity to risk-off events. However, the world's first cryptocurrency quickly recovered as investors increasingly view it as a hedged against geopolitical uncertainty.
Trade closed: target reached
Buy ScenarioScenario #1: I plan to buy Bitcoin today at the entry point near $106,7000, targeting a rise to $107,900. Around $107,900, I will exit long positions and initiate a sell trade on the bounce.
Before entering a breakout trade, make sure the 50-day moving average is below the current price and the Awesome Oscillator is in positive territory.
Scenario #2: Buy Bitcoin from the lower boundary of $106,000 if there is no market reaction to its breakout, targeting a move back to $106,700 and $107,900
Sell Scenario
Scenario #1: I plan to sell Bitcoin today at the entry point around $106,00, targeting a decline to $104,9000. Around $104,900, I will exit short positions and buy immediately on the bounce.
Before selling on a breakout, ensure the 50-day moving average is above the current price and the Awesome Oscillator is in negative territory.
Scenario #2: Sell Bitcoin from the upper boundary of $106,700 if there is no market reaction to its breakout, targeting a move back to $106,000 and $104,900.
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DAILY FREE SIGNAL. FREE SIGNAL (95% accuracy) TP AND SL PROVIDED
In This Channel, i Will Provide you a profitable Scalping And Swing Trade Follow My Signals
PUBLIC TELEGRAM CHANNEL
t.me/CEO_PREMIUM_ANALYSIS
In This Channel, i Will Provide you a profitable Scalping And Swing Trade Follow My Signals
PUBLIC TELEGRAM CHANNEL
t.me/CEO_PREMIUM_ANALYSIS
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.