#avax/usdt is breaking descending resistance on the weekly🔍 | Crypto Revolution Masters on Binance Square

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#avax/usdt is breaking descending resistance on the weekly🔍
Bullish🐃

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Sonic Chain Trading Competition: Trade Sonic Chain Tokens on Binance Alpha and Share Approximately $2.2M Worth of Rewards https://www.binance.com/en/support/announcement/detail/62f78985d5c8400d93e5ce0fa7d905f0

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#Binance native token $BNB has been fighting against this descending resistance for months now. The good news is that #BNB seems to be finally breaking above it! The target is $760🎯

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🔑 Key Insights 1. Bitcoin’s Dominance and Institutional Adoption 👉Price Surge: Bitcoin (BTC) has risen to approximately $98,891, reflecting growing investor confidence. Institutional Inflows: Significant investments are flowing into Bitcoin ETFs, such as BlackRock’s iShares Bitcoin Trust, which has attracted $6.96 billion year-to-date, surpassing gold-focused ETFs. Strategic Reserves: The U.S. has established a Strategic Bitcoin Reserve, repurposing over $17 billion in seized bitcoins to bolster national digital asset holdings. 2. Ethereum’s Pectra Upgrade 👉Upgrade Details: Ethereum completed its Pectra upgrade, implementing 11 Ethereum Improvement Proposals aimed at enhancing transaction speed, cost efficiency, and staking capabilities. 👉Market Reaction: Despite the upgrade, Ethereum’s price has seen a modest increase, trading around $1,905, and remains down 45.5% year-to-date, underperforming compared to Bitcoin and competitors like Solana. 3. Regulatory Developments and State-Level Initiatives 👉New Hampshire’s Move: New Hampshire has become the first U.S. state to investing up to 5% of its reserves in Bitcoin and other high-cap digital assets. Stablecoin Regulation: The U.S. Senate is set to vote on the GENIUS Act, aiming to regulate stablecoins by ensuring 1:1 reserve backing and enhancing issuer accountability.

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🔔 Fed Holds Interest Rate at 4.50%, Citing Solid Growth and Elevated Inflation ! The Federal Reserve has kept the interest rate upper limit unchanged at 4.50%, matching expectations. Despite net export fluctuations, the economy remains solid with low unemployment and high inflation. The Fed cited growing economic uncertainty and will continue reducing its holdings of Treasuries, agency debt, and MBS assets.

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🗞 Catch up on the news over the last 24 hours! 🔥 Bernstein analysts project companies worldwide could allocate up to $330B to Bitcoin treasuries within 5 years. 🇺🇸 The US House Financial Services Committee has released a discussion draft on the new crypto market structure bill. 🇺🇸 Florida's Bitcoin Reserve Bills HB 487 and SB 550 have failed after the legislature adjourned its 2025 session on May 2 without passing either bill. ⚡️ OpenAI abandons plans to become for-profit, will maintain its nonprofit status with a new structure. 🔥 BlackRock spot Bitcoin ETF bought 5,640 $BTC worth $531.2M on May 5, totaling $4.6B of inflows in 15 days. 🔥 Binance founder CZ thinks Bitcoin price could top between $500,000 to $1,000,000 this cycle. 🇬🇧 UK Treasury rules out national Bitcoin reserve, says following US lead not appropriate for its market. 🔥 Sol Strategies deploys full $20M from ATW deal to acquire 122,524 $SOL at an average price of $148.96. 🇺🇸 New Hampshire just signed a new law to allow the state to invest in cryptocurrency. 🇺🇸 Treasury Secretary Scott Bessent claims having a “central bank digital currency (CBDC) is a sign of weakness.” 📊 Bitcoin outperformed both gold and the S&P 500 last month. 🚨 The US CFTC moves to drop its appeal against prediction market platform Kalshi.

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