BTC Key Resistance Test: 90 Minute Cycle Top Typing Suggests Falling Risk

MN Trading Capital founder Michael van de Poppe posted on X platform that Bitcoin is currently at a critical price level, and if it falls below the $71000 support level, it may further retrace to below $65000. He pointed out that the 200 day moving average is around $61000, and further decline is meaningless because it will not bring good results in any market cycle. He also mentioned that the current market structure is different from the decline in February, when range resistance failed to translate into support.

The US stock market closed at a historic high, and expectations of the reopening of the Strait of Hormuz boosted market sentiment.

[Cynthia Lummis: The U.S. May Fall Behind Without Passing the CLARITY Act] According to Cointelegraph, U.S. Senator Cynthia Lummis stated that if the CLARITY Act is not passed, the United States might fall behind countries like China in leading crypto regulation. She believes that a comprehensive crypto regulatory framework can help prevent other nations from dominating financial rules. The bill was advanced by the Senate Banking Committee in May but still requires approval from both chambers of Congress and the President's signature to take effect.

1. The standoff in the Strait of Hormuz between the United States and Iran has escalated, and Iran's shipping fee plan has been warned of US sanctions 2. Alephium TokenBridge Ethereum cross chain bridge attacked, resulting in losses of approximately $815000 3. Robinhood launches Trump investment plan, partnering with BNY to target millions of underage users 4. CertiK CEO: DeFi attacked in 27 out of 30 days in April, the worst month in four years 5. SEC sues Texas man for alleged false AI crypto trading robot scam, involving $123 million 6. The United States lists Brazil's CV and PCC as global terrorists involved in money laundering through Bitcoin mining 7. Grayscale report: Hyperliquid is expected to generate $800 million in revenue by 2025 and has processed $2.9 trillion in perpetual futures trading 8. Eric Balchunas: Bitcoin volatility approaches gold level, BlackRock IBIT continues to outperform US stocks The above is a selection of hot topics from the past 24 hours. Click to see the full article: https://www.aicoin.com/article/537092

According to a Bloomberg survey, the US unemployment rate is expected to remain at 4.3% in May, with an increase of 89000 in non farm employment and an average three-month employment growth rate reaching a new high in over a year. The healthcare industry is expected to remain strong, while industries such as construction, leisure, and hospitality may benefit from warmer weather, and manufacturing employment may benefit from consumers hoarding goods.