On Wednesday (June 26), Bitcoin rebounded to $62,000. The US November election ushered in new moves. Trump planned to give a speech at the 2024 Bitcoin Conference. The main author of Biden's cryptocurrency executive order returned to the White House. The US Securities and Exchange Commission hinted that the approval process for the Ethereum spot ETF was smooth. But the negative factors still exist, and the German government transferred 400 bitcoins again.
Trump and Biden come up with new strategies to win votes in the cryptocurrency world
According to Axios, two people familiar with the matter revealed that Trump is negotiating to attend the 2024 Bitcoin Conference hosted by Bitcoin Megazine at the end of July and deliver a speech at the largest Bitcoin summit of the year to be held in Nashville, Tennessee.
Trump is not the only U.S. presidential candidate planning to attend the 2024 Bitcoin Conference. Another independent candidate, Robert F. Kennedy Jr., will also give a speech. Other politicians who will be guest speakers include Vivek Ramaswamy, an entrepreneur who dropped out of the Republican primary earlier this year and actively supports cryptocurrency, and Republican Senators Bill Hagerty and Marsha Blackburn.
According to Decript, the White House has rehired Carole House as special adviser on cybersecurity and critical infrastructure policy on the White House National Security Council.
House previously served as director of cybersecurity and digital innovation at the White House National Security Council from 2021 to 2022. She was also one of the main drafters of the executive order on cryptocurrency signed by Biden in March 2022. She is regarded by the industry as an important official in the Biden administration who is relatively supportive of cryptocurrency. After leaving the White House, she served as a resident executive at cryptocurrency venture capital firm Terranet Ventures. Last year, she also served as the chair of the newly established Technology Advisory Committee of the Commodity Futures Trading Commission (CFTC), which is also joined by several large crypto industry players and executives.
House, a core official in digital innovation, is now returning to the White House, which is also interpreted by the outside world as a potential sign of the Biden administration's redeployment of cryptocurrency policy. She said in a LinkedIn statement: "I am honored to be asked to return to the White House to perform absolutely critical tasks that are necessary to shape the future of a secure and trustworthy digital economy."
It is worth mentioning that Bitcoin Magazine broke the news in the middle of the month that Biden administration officials will attend the Bitcoin and blockchain roundtable hosted by U.S. Democratic Congressman Ro Khanna in early July.
A private email from Khanna’s office described the roundtable as “the most important meeting to date between policymakers and innovation leaders in the blockchain space,” with Biden administration officials, House and Senate lawmakers, and longtime cryptocurrency supporter Mark Cuban, owner of the NBA’s Dallas Mavericks, expected to attend. The main goal of the meeting is to develop strategies for how to maintain Bitcoin and blockchain innovation in the United States.
Germany's "national level" alert: another 400 Bitcoins transferred
According to on-chain data tracked by Arkham, the German Federal Criminal Police Office (BKA) transferred another 200 bitcoins each on Tuesday, totaling 400 bitcoins, or about $24.32 million, to the US exchanges Coinbase and Kraken.
Previously, Arkham cited data indicating that the German Federal Criminal Police may have sold nearly $200 million worth of Bitcoin.
The address of the German Federal Criminal Police Office originally held about 50,000 bitcoins. On June 18, it first conducted a small transfer test of 0.001 bitcoins to exchanges such as Kraken and Bitstamp, and then transferred 500 bitcoins to each of them and 700 bitcoins to Coinbase.
SEC: Ethereum spot ETF approval process is "smooth"
According to The Block, Gary Gensler, chairman of the U.S. Securities and Exchange Commission, said at the Bloomberg Investment Summit in New York on Tuesday that although the specific timetable is unknown, the approval process for the Ethereum spot ETF is "progressing smoothly."
He stressed that it is critical that asset managers provide adequate disclosure so that these registration statements can be effective.
He also reiterated on Tuesday that most cryptocurrencies are securities and said there have been violations by crypto platforms.
Bitcoin Technical Analysis
CryptoDaily pointed out that Bitcoin has strong support at $60,000, so buyers entered the market at this level. Any increase in price will face resistance at the $65,500 level, where the 20-day and 50-day SMAs have completed a bearish crossover.
If the sellers regain control, the $60,000 support level could be tested and if broken, Bitcoin could drop to the $57,500 mark.
Looking at the indicators, the market has mentioned a bearish crossover. A look at the Volatility Index shows that the market is range-bound and the RSI is also in the oversold territory, suggesting that bears are currently in command.
