💰 Gate.io Daily Topic & Post Event
➡️ #BitcoinStrategicReserveAct#
— On May 7, New Hampshire became the first U.S. state to include Bitcoin in its strategic reserves. The new HB 302 bill allows up to 5% of public funds to be invested in digital assets and precious metals with a market cap over $500B.
Will this boost Bitcoin’s price? Could it set a trend for other states or countries? Share your thoughts!
➡️ #FOMCMeeting#
— The Fed will announce its May rate decision on May 8. Despite pressure to cut, markets expect no change. How do you think this will impact the market?
✍️ Post with #Bitcoin
#BTC# The short-term holder SOPR for Bitcoin is still below 1, but shows early signs of recovery. This indicates that many recent market participants are still dumping at a loss, but the magnitude of the losses is shrinking. In past cycles, a gradual rise in SOPR to 1 typically marks the transition from capitulation to regaining confidence.
Currently, this recovery indicates that the sentiment of short-term holders is improving. If the SOPR can rise and maintain above 1, it will confirm that profit-taking behavior has returned, and buyers are once again in control of the market. Before this, the market may still be susceptible to reactive selling due to significant pullbacks, especially from investors who entered above $85,000. Continued price strength and an increase in SOPR will reinforce a broader bullish outlook.
The Federal Reserve Board of Governors member Christopher Waller stated that if the Trump administration reinstates high tariffs, companies may start laying off employees, at which point he would support a rate cut to protect the job market.