Yesterday,
Donald Trump made a blunt statement, highlighting a critical situation around
the GENIUS Act. According to him, this key legislation — intended to reform
market structure and strengthen the US position in the global crypto industry —
is being sabotaged by banks. The president stressed that such actions are
unacceptable, saying, "We will not let this happen. The US needs to complete
market structure reform as soon as possible. Americans must get more return on
their money."
Trump also warned that if the CLARITY Act — the logical next step after GENIUS — is not passed, the US crypto industry could move to China and other countries. He called GENIUS "the first important step toward making the US the global crypto capital" and emphasized that passing CLARITY is "the next, decisive step that will complete the job and, most importantly, keep this powerful industry onshore."
The president said banks must not sabotage GENIUS or hold CLARITY hostage. He called for a mutually beneficial agreement between financial institutions and the crypto industry, stressing that this is what the American people demand. Concluding his remarks, Trump said it would be wrong to take away an industry that is on the verge of genuine success.
Trading recommendations
Bitcoin
Buyers are currently targeting a return to $71,300, which would open a direct path to $73,000 and then to $74,600. The most distant upside target is the high near $77,300; a break above that would signal attempts to return to a bull market. On a drop, buyers are expected at $69,300. A move back below that area could quickly push BTC toward $67,100, with a further downside target near $64,900.
Ethereum
A clear close above $2,078 would open the way to $2,169. The most distant upside target is the high near $2,279; a break above that would indicate strengthening bullish sentiment and renewed buyer interest. On the downside, buyers are expected at $2,007. A move below that area could quickly send ETH toward $1,915, with a furthest downside target around $1,845.
What's on the chart
The red lines represent support and resistance levels, where price is expected to either pause or react sharply.
The green line shows the 50-day moving average.
The blue line is the 100-day moving average.
The lime line is the 200-day moving average.
Price testing or crossing any of these moving averages often either halts movement or injects fresh momentum into the market.
The material has been provided by InstaForex Company - www.instaforex.com
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Yesterday, Donald Trump made a blunt statement, highlighting a critical situation around the GENIUS Act. According to him, this key legislation — intended to reform market structure and strengthen the US position in the global crypto industry — is being sabotaged by banks. The president stressed that such actions are unacceptable, saying, "We will not let this happen. The US needs to complete market structure reform as soon as possible. Americans must get more return on their money."
Trump also warned that if the CLARITY Act — the logical next step after GENIUS — is not passed, the US crypto industry could move to China and other countries. He called GENIUS "the first important step toward making the US the global crypto capital" and emphasized that passing CLARITY is "the next, decisive step that will complete the job and, most importantly, keep this powerful industry onshore."
The president said banks must not sabotage GENIUS or hold CLARITY hostage. He called for a mutually beneficial agreement between financial institutions and the crypto industry, stressing that this is what the American people demand. Concluding his remarks, Trump said it would be wrong to take away an industry that is on the verge of genuine success.
Trading recommendations
Bitcoin
Buyers are currently targeting a return to $71,300, which would open a direct path to $73,000 and then to $74,600. The most distant upside target is the high near $77,300; a break above that would signal attempts to return to a bull market. On a drop, buyers are expected at $69,300. A move back below that area could quickly push BTC toward $67,100, with a further downside target near $64,900.
Ethereum
A clear close above $2,078 would open the way to $2,169. The most distant upside target is the high near $2,279; a break above that would indicate strengthening bullish sentiment and renewed buyer interest. On the downside, buyers are expected at $2,007. A move below that area could quickly send ETH toward $1,915, with a furthest downside target around $1,845.
What's on the chart
Price testing or crossing any of these moving averages often either halts movement or injects fresh momentum into the market.
The material has been provided by InstaForex Company - www.instaforex.com