In March, Hong Kong announced the launch of a "capital investor access scheme" with an entry threshold of NT$30 million, and received inquiries from global clients, showing the potential demand for such initiatives. However, despite the tax benefits, legislators' concerns about potential asset flows due to political considerations remain a challenge.
PwC has received demand not only in Hong Kong but also globally as new investors are increasingly showing interest in digital assets. The surge in demand is attributed to the potential approval of BlackRock’s spot Bitcoin Ethereum ETF and the major hurdle of Bitcoin price breaking through the $31,000 level.
Market analysis:
Tomorrow's CPI forecast is 3.3. My opinion is that there may be a smooth transition. If the published value is higher than 3.3, the market will not fall despite the negative news. This further proves that the main force is highly controlling the market at this position. He does not want retail investors to continue to buy more Bitcoin chips. Or my opinion is that this position should not be significantly lower than 3.3. In the case of a big positive news, there will definitely be more funds chasing the price in the short term. On the contrary, it is possible that the market will continue to be cleaned up in the short term.
Bitcoin price started a fresh increase above the $36,800 resistance area. BTC clearly broke above the $37,000 resistance area and moved further into the positive zone. It even rose to $38,000 before correcting downward to $35,850. Recently, the price once again broke above the $37,250 level, but the bears were active near $37,500. A high was formed near $37,500 and the price is currently consolidating gains. It fell below the $37,250 level. The price tested the 50% Fib retracement level of the upward move from the $35,891 swing low to $37,500 high. Bitcoin is currently trading close to $37,000 and the 100 hourly simple moving average. On the upside, an immediate resistance is near $37,200. A short term descending channel is also forming on the BTC hourly chart with resistance near $37,250. #BTC #ETH #grok #etf #xrp $BTC $ETH
