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๐Ÿš€๐Ÿš€Buckle up, Bitcoin enthusiasts! Former US President Donald Trump has made a surprising U-turn on his stance towards cryptocurrency, promising to protect the rights of the nation's 50 million crypto holders and oppose the establishment of a central bank digital currency (CBDC). ๐Ÿ‡บ๐Ÿ‡ธ๐ŸŽ‰ Speaking at the Libertarian National Convention, Trump pledged to ensure the future of crypto and Bitcoin thrives in the US, rather than being driven overseas. He also vowed to keep critics like Elizabeth Warren away from crypto assets. ๐Ÿ›ก๏ธ๐Ÿ’ช This marks a significant departure from his previous skepticism towards the asset class and represents a milestone for crypto companies. The Republican Party has grown more supportive of Bitcoin and other digital assets in recent years, while leading Democrats remain divided on the issue. ๐Ÿ˜๐Ÿ’ฐ In a further twist, Trump promised to commute the life sentence of Silk Road founder Ross Ulbricht if re-elected president, a pledge met with cheers from the audience. ๐ŸŽ‰๐ŸŽ‰ Trump accused President Joe Biden of wanting the cryptocurrency industry to "die a slow and painful death," vowing that this would never happen under his leadership. So, it seems the crypto world has found an unexpected ally in Trump! ๐Ÿš€๐Ÿš€๐ŸŽ‰

๐Ÿš€๐Ÿš€Buckle up, Bitcoin enthusiasts! Former US President Donald Trump has made a surprising U-turn on his stance towards cryptocurrency, promising to protect the rights of the nation's 50 million crypto holders and oppose the establishment of a central bank digital currency (CBDC). ๐Ÿ‡บ๐Ÿ‡ธ๐ŸŽ‰

Speaking at the Libertarian National Convention, Trump pledged to ensure the future of crypto and Bitcoin thrives in the US, rather than being driven overseas. He also vowed to keep critics like Elizabeth Warren away from crypto assets. ๐Ÿ›ก๏ธ๐Ÿ’ช

This marks a significant departure from his previous skepticism towards the asset class and represents a milestone for crypto companies. The Republican Party has grown more supportive of Bitcoin and other digital assets in recent years, while leading Democrats remain divided on the issue. ๐Ÿ˜๐Ÿ’ฐ

In a further twist, Trump promised to commute the life sentence of Silk Road founder Ross Ulbricht if re-elected president, a pledge met with cheers from the audience. ๐ŸŽ‰๐ŸŽ‰

Trump accused President Joe Biden of wanting the cryptocurrency industry to "die a slow and painful death," vowing that this would never happen under his leadership. So, it seems the crypto world has found an unexpected ally in Trump! ๐Ÿš€๐Ÿš€๐ŸŽ‰

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๐Ÿ“ฃ Hey BTC enthusiasts! Let's take a quick detour and check out what's happening with Polkadot (DOT). ๐Ÿง DOT's been dancing around the $7.4 resistance level, with the 100-day moving average and the RSI indicator hinting at a tug-of-war between buyers and sellers. ๐Ÿ˜ฌ The market's at a crossroads, and the next price action could be a game-changer for DOT's future. ๐Ÿšฆ Now, if we zoom into the 4-hour chart, there's a slight upward trend forming an ascending wedge pattern. ๐Ÿ“ˆ But don't get too excited just yet! This pattern could mean a continuation of the initial bearish trend if it breaks from its lower boundary. ๐Ÿ˜ฎ Currently, DOT's wrestling with the $7.4 and $7.6 resistance levels, and it's not winning. ๐Ÿคผโ€โ™‚๏ธ The lack of bullish momentum suggests a potential pullback, targeting the patternโ€™s lower boundary. ๐Ÿ“‰ But what about the market sentiment? ๐Ÿค” The Long/Short Accounts Ratio is at 3, meaning there are three times more long position holders than short. But here's the twist: the total position value is equal on both sides. ๐Ÿคฏ This indicates that the long side is mostly retail traders with smaller positions, while the short side is likely institutional investors with larger positions. ๐Ÿฆ And guess what? The metric's been dropping, hinting at a possible increase in the average position size of institutional investors on the short side. If this trend continues, it could mean more selling pressure for DOT. ๐Ÿ˜ฑ So, while we're all about the BTC love, it's always good to keep an eye on the broader crypto market. Stay tuned for more updates! ๐Ÿš€
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