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Last week, it was mentioned that BTC has fallen to around 110000, a difference of 2000 from the target
On August 7th, according to Caixin, senior White House officials revealed that Trump will sign an executive order on Thursday allowing alternative assets such as private equity, real estate, and cryptocurrency to join the 401 (k) retirement savings plan, marking a significant shift in US pension investment.
The 401 (k) plan is a joint contribution pension insurance system between American employees and employers, with investments previously limited to public market products such as stocks and bonds. This policy will open the door to approximately $12.5 trillion in retirement account funds, order the Department of Labor to reassess relevant investment guidance, and collaborate with multiple departments to clarify rules.
The news has driven the cryptocurrency market to strengthen, with Bitcoin jumping and concept stocks such as BTC showing significant gains; Private equity stocks such as Apollo Group also rose slightly. This move is seen as a victory for the alternative asset management industry and an important move by Trump to promote the cryptocurrency industry.
Technical Analysis
After the BTC weekly line changed, it fluctuated around 110000 and fell back twice without breaking. It was bullish after four hours, but the daily golden cross failed. If successful, it will reach at least 130000 and we will see if it can stabilize at 120000 next week.
The weekly closing line of ETH synchronized with the bearish trend, falling back to around the target of 3300. As soon as the old news came out, it directly pulled back to a new high. If it breaks through 4000, it will reach a high before 4800.
So, how do we proceed next?
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