web3.0Bitcoin (BTC) Price Rebounds to $67K Ahead of Donald Trump's Speech at the Bitcoin Conference in Nashville
The price of BTC experienced a significant rebound, reaching $67,000, ahead of Donald Trump's speech at the Bitcoin Conference in Nashville.
The price of BTC showed a significant rebound, reaching $67,000 ahead of Donald Trump’s speech at the Bitcoin Conference in Nashville. This sudden rise is attributed to investors’ anticipation of potential statements by the former US president on the future of crypto.
A booming market before Trump’s intervention
Bitcoin erased its recent losses which caused a wave of liquidations, recording a rise of more than 4% in 24 hours. This rebound occurs in a particular context, as traders avoid short positions before the weekend.
Markus Thielen, CEO of 10x Research, explains: “Nobody wants to short Bitcoin over the weekend.” This caution is explained by the high expectations surrounding Trump’s speech.
Indeed, rumors are circulating about a possible announcement by the former president regarding a strategic Bitcoin reserve. This prospect has led many investors to take a bullish position, fearing to miss a potential price surge.
CoinGlass reports that if BTC falls back to $65,000, it would threaten long positions totaling $1.11 billion.
The potential impact of Trump’s statements on the crypto market
Trump’s intervention in Nashville is a major turning point for Bitcoin. Market participants are attentive to the former president’s intentions on the balance between gold and Bitcoin in US reserves.
Currently, the US Treasury holds gold reserves valued at $600 billion, while the government has seized bitcoins worth $15 billion. Thielen suggests that Trump could express his intention to increase the share of Bitcoin to “around 10% of gold reserves, or even more.”
Bryan Courchesne, an asset manager, believes that adopting Bitcoin as a reserve asset would be complex, but not impossible. He notes the possibility of a transfer of seized bitcoins from the Department of Justice to the Treasury, thus paving the way for long-term accumulation of this rare asset.
In summary, the Trump speech in Nashville could mark a turning point for the future of Bitcoin, influencing its price and perception by institutional investors. The anticipation is palpable in the markets, which remain on tenterhooks for the former US president’s statements.
The above is the detailed content of Bitcoin (BTC) Price Rebounds to $67K Ahead of Donald Trump's Speech at the Bitcoin Conference in Nashville. For more information, please follow other related articles on the PHP Chinese website!
Senators Lummis and Scott Promise Pro-Bitcoin Legislation if Republicans Win the Majority in the Upcoming ElectionsJul 27, 2024 pm 12:58 PMSenator Cynthia Lummis took the stage to speak at the Bitcoin 2024 conference along with Senator Tim Scott, on Friday, discussing cryptocurrency and their vision for its role in the U.S. financial system.
Bitcoin (BTC) Exchange Netflow Has Just Taken to Positive Values, Here's What It MeansJul 27, 2024 am 12:07 AMOn-chain data shows the Binance exchange has received large net Bitcoin inflows during the past day, indicating that BTC's decline may extend further.
Hackers recover $3 million in bitcoin from software wallet locked for over a decadeJun 14, 2024 am 09:57 AMJoeGrand-anethicalhackerandYouTuberwhoiswidelyknownforhisprojectsinvolvingcryptowallets,hassuccessfullyrecoveredalife-changingamountofbitcoin,presentlyvaluednorthof$3millionfromasoftwarewalletthathasbeenlockedformo
Bitcoin (BTC) – America’s Key To Economic Supremacy?Jul 26, 2024 pm 09:15 PMIn the ongoing global economic and geopolitical rivalry, the United States may have a powerful new weapon – Bitcoin (BTC). That is the argument made by Sam Lyman
US Stock Market Peak Warning May Also Impact Bitcoin (BTC) MarketJul 27, 2024 am 06:35 AMFinancial experts are warning of an impending peak in US stocks. This may also lead Bitcoin to rise. According to Arthur Budaghyan, an analyst at BCA Research, the US stock market
Bitcoin vs. Gold vs. S&P 500: Which Is the Best Investment in the Current Market?Jul 27, 2024 am 07:11 AMCryptocurrencies, commodities, and stocks are among the most popular risk assets for investment and trade, also leading finance indicators.
Bitcoin Holders Can Now Purchase European Union Citizenship, Combining Cryptocurrency and Immigration PolicyJul 25, 2024 pm 02:53 PMPowered by the Unbound Fund, this initiative uses Bitcoin as a key to open up Portuguese citizenship via the country's golden visa program.
Bitcoin (BTC) Witnesses “Rare” Buy Signal, Could Enjoy a Massive Rally to $130,000Jul 26, 2024 am 11:26 AMCrypto analyst Mikybull Crypto has revealed the return of a technical indicator that represents a buy signal for Bitcoin. Based on his predictions, the
Hot AI Tools
Undresser.AI Undress
AI-powered app for creating realistic nude photos
AI Clothes Remover
Online AI tool for removing clothes from photos.
Undress AI Tool
Undress images for free
Clothoff.io
AI clothes remover
AI Hentai Generator
Generate AI Hentai for free.
Hot Article
Hot Tools
MinGW - Minimalist GNU for Windows
This project is in the process of being migrated to osdn.net/projects/mingw, you can continue to follow us there. MinGW: A native Windows port of the GNU Compiler Collection (GCC), freely distributable import libraries and header files for building native Windows applications; includes extensions to the MSVC runtime to support C99 functionality. All MinGW software can run on 64-bit Windows platforms.
SublimeText3 English version
Recommended: Win version, supports code prompts!
EditPlus Chinese cracked version
Small size, syntax highlighting, does not support code prompt function
VSCode Windows 64-bit Download
A free and powerful IDE editor launched by Microsoft
ZendStudio 13.5.1 Mac
Powerful PHP integrated development environment
