For two consecutive working days, the market has started to rise around 6 AM. Yesterday, I mentioned that it would likely fluctuate between $93,000 and $98,000. Although it has broken through now, I personally remain 'cautiously optimistic.' Last night, I impulsively opened a short position at $97,500, and now it hurts a bit. I'm still considering whether to cut my losses.
This rise is likely still driven by events. On one hand, the US has lifted restrictions on AI chips and made some progress on tariffs. On the other hand, after New Hampshire passed legislation, two more states have passed strategic reserves related to cryptocurrency:
1. Oregon SB167 has been signed into law, updating the state's Uniform Commercial Code, providing much-needed clarity on how to handle digital assets (such as legally recognizing them as collateral).
2. Arizona HB749 has been signed into law, although direct investment is not allowed, unclaimed assets, airdrops, and staking rewards are transferred into reserves.
3. Arizona SB1373 is on the governor's desk. After HB749 passed, it feels like Governor Hobbs is willing to enact legislation supporting cryptocurrency. 1373 is also a strategic reserve, just without using pensions.
I really think I shouldn't be shorting now; I'm just a foolish example. It's hard to predict what events might happen. Recently, Trump's wild ideas have decreased a bit, so bearish factors might also decrease.
But I do believe that maintaining fluctuations between $93,000 and $98,000 is highly likely, even if it slightly exceeds now. Of course, it's very possible that I'm wrong.
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