🚨 BOOOOOOOOOOOOOOOOOM 🚨
🇺🇸 SEC Chair Paul Atkins says he’s confident Congress will pass crypto market structure legislation and President Trump will sign it into law.
Crypto is entering a new era.
$XRP is ready. 🔥
It makes sense to me why Bitcoin isn’t following stocks right now. It could still be following its 4-year cycle.
The last two Bitcoin bear markets lasted around 371 days. If the pattern repeats, we could already be more than halfway through this bear market.
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🚨 BREAKING NEWS! 🚨
The Committee is fast-tracking the CLARITY Act markup for this Friday, May 29 @ 10:30 AM EST. 🏛️⏱️
The race is ON—the U.S. is making its move to become the global crypto capital. 🇺🇸🚀
🚨 REASONS BEHIND THE CRYPTO MARKET DUMP
1. Renewed attacks on Iran
CBS News reported the US could strike Iran again.
New strikes would spike oil prices, which makes inflation worse. And higher inflation could push the Fed toward rate hikes instead of cuts. Bad for crypto.
2. Clarity Act odds falling
In just 2 weeks, the odds of the Crypto Market Structure Bill being signed into law dropped from 75% to 50%.
Yesterday it was reported the SEC delayed plans to allow tokenized stock trading on the blockchain.
The pushback against crypto has started. Short-term bearish.
3. Bond market stress
Japanese bond yields are hitting new highs and US yields are surging.
High yields make borrowing harder, which hurts risk-on assets like crypto.
What happens next?
$BTC has dropped below $75,000.
If strikes happen this weekend, $BTC could fall toward the $72,000-$72,500 support zone.
If no strikes happen, we could see a strong reversal next week.