Bitcoin Hits 67K Before Trump's Speech In Nashville
🔍 New event:
Bitcoin rose 4.3% as traders leaned into long positions ahead of former President Donald Trump's speech at the Bitcoin Conference in Nashville.
🔸 Context:
🔹 Markus Thielen, CEO of 10x Research, shared: “No one wants to short Bitcoin on the weekend.”
🔹 Trump may announce a Bitcoin strategic reserve plan if he is elected president in November.
🔸 Market impact:
Futures traders avoid short positions for fear of rising Bitcoin prices. “If Trump announces strategic reserves, Bitcoin will surge,” Thielen told Cointelegraph.
🔸 Notable information:
Bitcoin is trading at $66,985, up 4.42% in the past 24 hours, according to CoinMarketCap.
🔸 Gold and Bitcoin reserves:
The US Treasury has gold reserves worth $600 billion, while the government has confiscated Bitcoin worth $15 billion. Trump may adjust this ratio to about 10% of gold reserves, Thielen predicts.
🔸 Expert opinion:
Cointelegraph's Bryan Courchesne said adopting Bitcoin as a reserve asset would be difficult but not impossible.
🔗 Source: 🔥Crypto Analysis ⚡️⚡️
https://t.me/cryptoanalysisvn/1/1857
