Just when you and I thought the cryptocurrency world was calm, a rumor struck like a thunderbolt, instantly stirring the entire market! Current U.S. President Biden is rumored to pardon the founder of FTX, SBF, who caused the 'explosion' in the cryptocurrency market? Is this a rumor or is there truth to it? Billionaire Musk's comment has only intensified the situation!
On Monday, Musk responded to this rumor on Twitter, saying, 'I would be shocked if this doesn't happen.' Once this statement was made, the FTT token surged over 20%, as if the entire market was cheering for this potential 'miracle'. However, the increase slightly retreated afterward, leaving behind a trail of doubt and speculation.
What is going on here? Could President Biden really give this market-shaking 'big shot' a chance for a 'pardon' before leaving office? Recently, there have been frequent reports that Biden intends to exercise his pardon power, and some even speculate that he may fully pardon Trump's critics. As the second-largest donor to the Democratic Party, could SBF really receive a 'get out of jail free card' in this 'political game'?
We can't help but ask, if Biden really pardons SBF, what will it mean? Is it a redemption for the market, or a trampling of the rules? And will those investors who suffered heavy losses in the FTX crash receive the justice they deserve?
Looking at the price trend of FTT, it seems to be cheering for this storm. While Bitcoin is undergoing a weak correction, FTT has become the cryptocurrency with the highest daily increase. Is this due to market speculation, or are investors betting on the rumor of Biden's pardon?
However, we cannot blindly follow the trend. Technical analysis shows that the key support level for FTT is at $2.85, and the resistance level is at $3.08. If the price can break through $3.08, it may further rise to $3.50. But if it falls below $2.85, it may retest $2.60. These levels play an important role in determining the recent price direction of FTT!
So, as an investor, do you choose to believe the rumors of Biden's 'pardon', or stick to your investment principles? In this volatile market, every decision could determine your future.
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The above content is for informational sharing only and does not constitute any investment advice!
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